Moving from Data-Driven to Knowledge-Driven Decision Making in Oil & Gas

SPEAKERS

Hosin Min Chief Executive Officer, Digital Transformation Consulting & Solutions, Rock15 Inc.

ABOUT THE SESSION

Hosin Min, the Managing Director of Digital Transformation Consulting at Rock15 Inc., brought forward transformative strategies at the Oil & Gas Digital Transformation Conference 2023. With a rich 22-year career in the digital transformation and IT industry, Hosin has accumulated a wealth of experience in a variety of roles, from system engineer to solution architect. His session focused on the concept of “Model-Based Anything (MBx)” and its ability to help organizations shift from data-driven decision-making to knowledge-driven decision-making. MBx, a concept that has been successful in space management, is now being proposed as a solution for the oil and gas sector to navigate future challenges more effectively. 

Hosin emphasized that while oil and gas companies already rely on data to make informed decisions, this alone isn’t enough to prepare for the complexities of the future and to avoid repeating past mistakes. The key lies in managing knowledge effectively. MBx, proven successful by NASA in managing its $40B assets and supply chain, offers a promising framework for the oil and gas sector. It helps organizations extract more value from their data, ensuring not only that they make the right decisions but also that they possess the foresight to address future challenges with a knowledge-driven approach. 
 

Key Topics: 
 

• Oil & Gas companies invest in data platforms to make optimal decisions – “do things right.” However, data alone is insufficient to prepare for future disruptions. 

• Managed knowledge allows organizations to “do the right thing” and avoid repeating the same mistakes, leading to better decision-making. 

• NASA uses ‘MBx’ to manage $40B assets and supply chains. Hosin discussed how this approach could be adapted for the oil and gas industry. 
   

For more on this conference or to access the session, reach out to us at info@ptnevents.com. 

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