Petroleum refining has been, is still, and is expected to remain in the next decades the main source of energy required to drive transport for mankind. The demand for automotive and aviation fuels has urged refiners to search for ways to extract more light oil products per barrel of crude oil. The heavy oil conversion processes of ebullated bed vacuum residue hydrocracking (EBVRHC) and fluid catalytic cracking (FCC) can assist refiners in their aim to produce more transportation fuels and feeds for petrochemistry from a ton of petroleum. However, a good understanding of the roles of feed quality and catalyst characteristics is needed to optimize the performance of both heavy oil conversion processes. Three knowledge discovery database techniques—intercriteria and regression analyses, and artificial neural networks—were used to evaluate the performance of commercial FCC and EBVRHC in processing 19 different heavy oils. Seven diverse FCC catalysts were assessed using a cascade and parallel fresh catalyst addition system in an EBVRHC unit. It was found that the vacuum residue conversion in the EBVRHC depended on feed reactivity, which, calculated on the basis of pilot plant tests, varied by 16.4%; the content of vacuum residue (VR) in the mixed EBVRHC unit feed (each 10% fluctuation in VR content leads to an alteration in VR conversion of 1.6%); the reaction temperature (a 1 °C deviation in reaction temperature is associated with a 0.8% shift in VR conversion); and the liquid hourly space velocity (0.01 h-1 change of LHSV leads to 0.85% conversion alteration). The vacuum gas oil conversion in the FCC unit was determined to correlate with feed crackability, which, calculated on the basis of pilot plant tests, varied by 8.2%, and the catalyst ΔCoke (each 0.03% ΔCoke increase reduces FCC conversion by 1%), which was unveiled to depend on FCC feed density and equilibrium FCC micro-activity. The developed correlations can be used to optimize the performance of FCC and EBVRHC units by selecting the appropriate feed slate and catalyst.