Benzinga | Nov 11, 2021 08:17AM EST

Verisk Analytics' Wood Mackenzie, Ball Corporation Announce Satellite Data Analytics Collaboration; No Terms Disclosed

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.