Palantir's economic modelling solutions are helping the oil and gas industry overcome historic problems of bad budget management and overspending.

Bart Willigers, senior consultant with the oil and gas financial modelling company, told the Digital Energy Journal that the sector has a poor track record of maintaining budgets and forecasting annual spends.

The problem, he claims, is that the "decision systems" in place are of a standard that precludes accurate economic predictions and assessments.

"Having an efficient decision making system in place is as important as having very bright geoscientists and engineers," he insists.

From its bases in Aberdeen, London, Houston Calgary and Singapore, Palantir is providing the training, services and software to raise the standard of these decision systems, empowering the oil and gas industry in its bid to overcome budgeting problems.

Palantir's chief executive officer Alex Karp explains that the company is on the cusp of a seismic shift in the way that research is gathered and information is interpreted - and it is inviting the oil and gas industry to join this revolution in analytics.

Oil and Gas Directory: Training and Development