LONDON--(BUSINESS WIRE)--Quantzig, a global analytics solutions provider, has announced the completion of their latest article on the top benefits of analytics in the chemical industry.
The chemical industry in one way or the other contributes to almost every manufactured product. The industry involves in activities that converts petroleum and natural gas into intermediate materials, which is later changed into daily use products. The global chemical industry has annual sales grossing to roughly US$5 trillion and employs almost 20 million people. Previously in this sector, the demand was for some chemicals that were sold in high volume and well-margined markets. But, with growing digital transformation that is promoting strategic growth and streamlining the industry, both specialty chemicals and commodity are now being modified to their end application.In this blog, Quantzig has listed top benefits of analytics in the chemical industry.
According to the data analytics experts at Quantzig, “Chemical industry players have historical datasets associated with processes and products, which can be used to discover patterns.”
View Quantzig’s comprehensive list of the top benefits of analytics in the chemical industry
Quantzig is a global analytics advisory firm concentrated on leveraging analytics for prudent decision making and offering solutions to clients across several industrial sectors. Listed below are the top benefits of analytics in the chemical industry.
Top benefits of analytics in the chemical industry
- Preventative maintenance and asset management: The chemical industry equipment like turbines and compressors are attached with sensors that bring in a continuous stream of data. These data are used by analytics to find patterns and forecast potential breakdowns and stop machinery failures. Similarly, data comparison from similar equipment can be used by chemical companies to guarantee performance optimization. Hence, chemical industry firms can avoid unanticipated machine shut-downs and progress their productivity.
- Detection of alarms: The chemicals that the chemical industry deals with are highly hazardous. Thus, in the chemical industry, it is highly important to continuously track the production, storage, and transportation of the chemicals. Analytics will help chemical companies to competently monitor and lower explosive levels of gases, like oxygen, hydrogen, sulfide, sulfur dioxide, nitrogen dioxide, and carbon monoxide. This will eliminate any accidents or explosion that could cause damage to property and life.
- Energy management: Multiple dynamic operations are performed simultaneously in a chemical plant, it becomes difficult to select optimal operating conditions. Smart manufacturing techniques and advanced analytics make use of technologies like soft sensors, which can aid in processing some data points. To improve energy efficiency, they also allow control of the non-standard process. This way, firms in the chemical industry can not only guarantee energy efficiency but will also help them in reducing their costs.
- Visit our page, to view the complete list of top benefits of analytics in the chemical industry
Request a free demo to see how Quantzig’s solutions can help you.
View the complete list of the top benefits of analytics in the chemical industry 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 45 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.