The analytics platform is designed to provide users with a real-time view of the global supply-demand balance.
OilX launched a new artificial intelligence powered platform for oil trading analytics. The OilX platform tracks cargo and flow and provides users with a real-time view of the global supply-demand balance. A product of a partnership between OilX and The Signal Group, and it gives traders and analysts the real-time oil analytics and insights to make better commercial decisions.
“We are proud of our partnership with Florian and the OilX Platform,” says Ioannis Martinos, The Signal Group CEO. “Florian’s deep industry knowledge and experience, combined with The Signal Group’s investment in advanced technology, has formed a powerful combination. Careful development over the last 15 months has brought us to the stage now where we feel confident OilX will provide a unique edge to traders and analysts within the industry.”
See also: SAP looks towards the future of converged analytics in 2019
Current oil analytics — based on historical and disparate data — can consume a tremendous amount of resources. OilX uses artificial intelligence to compile a more accurate, real-time view of market fluctuations. This streamlined approach allows companies to more easily increase their productivity.
“There is a significant amount of resource currently devoted to oil analytics. However, the flow, timeliness, and speed of delivery of information fall far below what is needed for impactful commercial decision making,” says Florian Thaler,OilX CEO and oil strategist. “The goal of OilX is to reduce inefficient and resource-heavy analytics work, in order for companies to focus on value-added tasks. By providing a more accurate, real-time view of the market, powered by state-of-the-art artificial intelligence and an intimate knowledge of the oil ecosystem, traders will be able to more effectively navigate a complex universe, and ultimately drive performance.”
Sue Walsh is News Writer for RTInsights, and a freelance writer and social media manager living in New York City. Her specialties include tech, security and e-commerce. You can follow her on Twitter at @girlfridaygeek.
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