Quantzig: Advantages of Analytics in Chemical Manufacturing
LONDON--(BUSINESS WIRE)--Sep 20, 2018--Quantzig, a global analytics solutions provider, has announced the completion of their latest article on the advantages of using analytics in chemical manufacturing.
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Top Benefits of Analytics in Chemical Manufacturing. (Graphic: Business Wire)
Employing advanced analytics in chemical manufacturing offers insights into potential opportunities. The actual strength of concepts like analytics and big data come from their symbiotic relationship. With quality developments, the value of the insight produced by sophisticated analytics solutions also expands. This is precisely true in the chemical manufacturing industry, where many organizations are using big data and analytics to have a new level of strategic planning that has been unavailable until now. Planning of resources and allocation of resources have always been important processes in chemical manufacturing. At present, the industry is witnessing a fundamental change due to the rising middle class in Asia, globalization impact, global competition, and the extraordinary effect of US unconventional oil production on raw materials. Therefore, it becomes essential for companies to leverage analytics to stay ahead of the dynamic industry trends.
According to the analytics experts at Quantzig, “Chemical manufacturing firms have historical datasets with processes and products that can be used to discover patterns.”
Advanced analytics can considerably increase the level of understanding of what happens in a chemical manufacturing plant’s operations. This can help chemical manufacturing organizations to solve previous problems and disclose those that they never knew existed, such as unseen bottlenecks or unprofitable production lines.
Benefits of AnalyticsHelps maintain and manage assets: Compressors and turbines are chemical manufacturing equipment that have sensors, which are used to pull a continuous stream of data. The data produced is used by data scientists to find patterns and forecast potential breakdowns and failures of machinery, making this one of the major benefits of analytics. Also, chemical manufacturing firms can use data comparison from similar equipment to assure optimization of performance. Hence, chemical manufacturing firms can avoid unforeseen and sudden machine shut-downs and can improve their productivity by a huge margin. to know more about the advantages of using analytics in chemical manufacturing. Energy management: Choosing optimal operating conditions becomes very hard since many dynamic operations are performed together in a chemical plant. The actual benefits of analytics lie in the fact that it uses technologies like soft sensors, which can help in processing some data points. This can further help in growing the competence of energy and decreasing of their costs. Forecasting load: Analytics lets chemical manufacturing organizations to precisely estimate opportunities and save large amounts of money. However, the process is extremely risky and can help organizations in the chemical manufacturing industry to accurately predict the load of raw materials like oil, natural gas, water, minerals, metals etc. to help them meet the supply and demand necessities of energy and power. to know more about the advantages of using analytics in chemical manufacturing.
Quantzig is a pure-play analytics advisory firm concentrated on leveraging analytics for prudent decision making and offering solutions to clients across several industrial sectors.
View the complete list of the advantages of using analytics in chemical manufacturing blog here:
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 55 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
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PUB: 09/20/2018 08:36 AM/DISC: 09/20/2018 08:36 AM