Agreement set to accelerate development of advanced analytics for energy markets
EDINBURGH/LONDON/WESTMINSTER, Colo., Nov. 11, 2021 (GLOBE NEWSWIRE) — Wood Mackenzie, Inc. a Verisk business (NASDAQ:VRSK), and Ball Corporation (NYSE: BLL) announced today that they have signed an agreement between the two organisations to accelerate the development of advanced analytics for energy markets.
The collaboration will bring together data from the world’s largest private network of in-field monitors – owned by Wood Mackenzie – with satellite data analytics from Ball Aerospace, a business of Ball Corporation, to offer customers a near real-time view of the natural resources sector.
Devin Geoghegan, VP of Innovation and Head of the Innovation & Analytics Lab at Wood Mackenzie, said: “Combining Ball’s geospatial capabilities with Wood Mackenzie’s deep domain energy expertise will provide our customers with near real-time satellite data analytics. Our respective customers increasingly expect and demand access to higher-frequency data, which allows them to track daily developments that affect the short- to medium-term outlooks for commodity markets. In partnership with Ball, we plan to develop a suite of market-leading datasets and analytics products that will provide significant additional value for customers.”
Steve Smith, vice president and general manager, Systems Engineering Solutions, Ball Aerospace said: “Satellite data analytics and domain knowledge have traditionally been separate in our industry. This collaboration with the team at Wood Mackenzie offers an opportunity to extend our expertise in remote sensing and data analytics to new applications. We are excited about the potential benefits for our customers.”
With more than 60 years of experience in remote sensing, data processing and intelligence, Ball Aerospace has spent the last eight years using cutting-edge satellite data analytics and intelligence capabilities to monitor physical world activity within the natural resources sector through Ball’s commercial-facing analytics business.
Wood Mackenzie operates the world’s largest private network of in-field monitors and distributes industry-leading alternative energy data, delivering market intelligence across the commodity and energy spectrum, including power, oil, natural gas, natural gas liquids, agriculture, biofuels, and maritime freight.
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About Ball Corporation
Ball Corporation (NYSE: BLL) supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 21,500 people worldwide and reported 2020 net sales of $11.8 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.
About Wood Mackenzie
Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the world’s natural resources sector. We empower clients to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information, visit: www.woodmac.com or follow us on Twitter @WoodMackenzie
WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the USA and other countries around the world.
Verisk (Nasdaq:VRSK) provides predictive analytics and decision support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Tw
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