Krux Analytix inc. was founded in 2016 by drilling industry professionals who have spent years collecting, sorting, and analyzing drilling data. Led by President and CEO Jody Conrad, who has extensive industry experience in equipment design, production, and operations, Krux leverages its technical industry knowledge, subject matter expertise and data analytics methodologies to provide clarity to business operations. According to Conrad, “this helps lead our clients to better decision making, and ultimately maximized profits.”
By building proprietary data aggregation methods, insightful KPIs and metrics presented to all levels of business using dashboard-based visualizations, Conrad and her team focus on efficiency and helping clients achieve a deeper understanding of their businesses.
One of the ways Krux helps provide value, is by streamlining disparate data sources. “Drilling Contractors today need to manage data coming from a multitude of different sources such as; in-house software systems, company databases, innumerable spreadsheets, cloud-based services and various regulatory and government agencies,” Conrad explains. “Unfortunately, in most instances, these data sources rarely connect or communicate with each other.” Multiple sources of data inevitably lead to data silos that result in unlinked standalone reports that do not update automatically, create data reproduction errors, a duplication of effort and the inevitable misinterpretation of results due to missed associations. “At Krux, we can help by creating customized software applications to help companies collect and organize all data streams to achieve better efficiency.”
With these goals in mind, Conrad and her team have built two proprietary products that help structure data for business optimization, and are specifically focused on providing customers with important business insights. KruxLogixTM structures existing data by highlighting relationships between each source of data, connecting the sources, then integrating and normalizing those sources across all departments and business units. The resulting structured data is then visualized using an overarching dashboard-based reporting platform.
The second product, KruxMetrixTM, is a customizable software and hardware application developed to facilitate field operational data collection and storage, with built-in data analytics, the resulting structured data is visualized using an overarching dashboard-based reporting platform. In addition, Krux can provide customized software solutions, analytics and visualization packages for specific business needs.
When asked what the future holds for Canada’s oil and gas industry, Conrad suggests efficiency is key. “With oil prices hovering around the US$60/bbl mark and continued headwinds on new market access driving high differentials, margins are tight for the O&G producers,” she notes. “This is causing constraints on capital investment leading to fewer wells being drilled. The ongoing reality for the drilling contractor is continued downward pressure on day rates and extreme competition for the available work.” As such, drilling contractors will need to drive efficiencies into every aspect of their business, which is where Conrad and her team fit in nicely. “Clearly understanding your business operations is critical to being able to affect significant change. Using data analytics, business leaders today can obtain the tools they need to make the best possible decisions.”
Because Krux was founded by drilling professionals who want to help drilling contractors drive efficiencies into their business, they understood the importance of becoming a member of CAODC. “Being a (CAODC) member allows Krux to stay abreast of industry developments and is the best way for us to network with our clients and industry partners.”
For more information visit www.kruxanalytix.com