Leveraging Plumber in Excel for Predictive Modeling in Energy
Ryan Klein, a data scientist at Continental Resources, delivered a practical talk on integrating R’s Plumber package with Excel to enhance data-driven decision-making in the energy sector. The implications of such a solution extend well beyond the realm of Excel, yet the choice of interface is significant for user adoption. Problem Statement Continental Resources operates approximately 6,000 wells, each requiring an upfront average investment of around $8 million. This staggering figure underscores the need for predictive models capable of determining the viability of these investments based on varying parameters.