JV Article: Krux Analytics offers better data-driven decision making for the mining industry

Mining and mineral exploration companies are under increased pressure to improve drilling performance. More accurate drilling can benefit every aspect of a mining operation by making it smoother, safer, and more productive.

Drill operators, however, are required to oversee streams of complex data, generate value from that data, and manage tasks in need of constant attention during operations, which can often impact the performance of the drilling.

Consequently, many are increasingly automating their operations by adding equipment sensors to collect drill data and using technologies to process, analyze, and transmit this data across their organization to improve productivity, reduce costs, and increase return on investment while promoting more sustainable mining practices.

Founded in 2016, Calgary-based Krux Analytics has developed an enterprise-level software platform that helps mining companies from tier one operations and juniors to single-drill outfits to track and improve their drilling programs in real-time.

Jody Conrad, Krux’s founder, president and CEO, says the platform allows companies “to visualize their drilling programs in real-time, allowing geologists and drilling supervisors to make more informed and timely decisions that drive profitability and performance rather than having to focus on the administrative tasks of managing information.

“Krux enables mining companies and drill operators to target operational efficiencies, optimize performance on any scale, and add dollars directly to the bottom line. It does this by helping them to improve data-driven decision making by standardizing the collection and consistency of site data and allowing them to track drill programs, hole paths and costs in real-time.”

To date, Krux has helped companies with 211 exploration sites worldwide to track over 4.0 million metres of drilling.

Conrad said the platform can also consolidate data from other third-party contractors, such as surveys, directional services, construction, geophysics, and flights, into a single normalized dataset that allows for “consistent visibility and insightful analytics across a company’s entire operation.”

A mechanical engineer by training who combines more than 18 years of experience in the drilling industry with operational data analytics and system implementations, she says that what sets Krux apart from other providers “is not only do we understand drilling operations and business reporting requirements, but we also provide expert and tailored customer support and training to our clients.”

According to Conrad, for more effective data-driven decision-making data must be collected and integrated from various sources, with the instrumentation, drill type, data sources, and service provider all playing a role. “By providing this integrated data to drill operators in real-time, Krux helps them to make informed decisions when they count.”

And because the software provides an instrumentation agnostic solution, she says that data from multiple sources can be captured, normalized and stored on a single centralized platform to ensure consistent output and reporting for companies, allowing them “to compare ‘apples with apples'.”

“Just as Krux ensures integration of data entering the system, an API (application programming Interface) is provided so that the output from our platform can be taken to the next step or next platform in the process.”

By offering a single platform with customizable dashboards that can simultaneously display multiple datasets, Conrad says these aggregated datasets can allow users to optimize their drilling campaigns and control costs on a global scale. “Krux is the only software that allows users to aggregate all their contracts together, enabling them to review costs and make meaningful comparisons.”

She said that this allows the platform to provide an aggregated view of a company’s operational and financial performance in one place. “Our pre-configured and customizable dashboards allow for better decision making in real-time based on more accurate, robust, and comprehensive data. As a result, the Krux platform becomes the single source of truth at the site.”

And for companies reluctant about storing information in the cloud and exposing themselves to cybersecurity risks, Krux is Service Organization Control 2 (SOC2) certified. SOC2 is a technical auditing process and certification for data security under the American Institute of Certified Public Accountants. It assures companies that their data is stored in a controlled and audited environment.

“We know that data security is of the utmost importance to our clients and that there are years of experience that go into managing their operations,” Conrad said. “As part of our [SOC2] certification, our systems undergo vulnerability and penetration testing quarterly as well as annual audits and certifications to ensure that they are safe and secure.”

She encourages people to contact Krux for demonstrations of how the software can help create operational efficiencies.

The preceding Joint Venture Article is PROMOTED CONTENT sponsored by KRUX ANALYTICS and produced in co-operation with The Northern Miner. Visit www.kruxanalytics.com for more information