Big data is mostly referred to as high volume and variety of data which had hidden insights. The retail industry is benefited by acknowledging customer satisfaction and with the help of facial recognition technology buyer experience is improved. Featuring autopsy analysis and biometric strategies helped to solve many crimes. Even municipalities are employing big data to collect the crime hot spots and employ police to reduce the crime rates. Besides all these industries big data is being employed into chemical industries as well. Big data is changing the way in which companies are involving marketing, supply chain, production. It not only reduces the cost but also improves the overall production. Generate large amounts of information in real time about products, devices, and customers. This information, when collected, stored and analyzed, can provide deeper insight than before. It can also help break down traditional silos supply chains, accounting and finance, factory flooring, sales and marketing that are common in many companies.
Along with the increase of production, the risk is reduced in chemical industries with the advent of big data. The recent survey by Accenture reveals that 94% of the chemical executives is believing that digital technologies are changing the way of approach to their business. For making the digital technology to be effective we need to have the infrastructure in place.
Here are few of the specific areas in which big data is making a huge difference:
Companies can make better real-time decisions regarding the scheduling and usage of assets with the help of big data. The data generated from thousands of machines, monitors which are equipped with sensors is to be collected. This data can be used to reduce wastage, for improving accuracy and managing the consumption of energy. Maintenance issues are detected by these tools which alert employees for reducing downtime.
2.Safety and Regulation:
Long term remedies can be developed with big data in case of any security issues. The root cause of the issue is to be analysed and prevent the reoccurrence. The data generated about the incident is used for further studies and to bring knowledge to the public.
3.Pricing and Portfolio:
Chemical pricing strategies will rely on outdated data and are also complex. By analyzing profits, market estimates, and availability of raw materials, companies can make better decisions about the products and the value they offer. This information can help companies explore new markets for existing or new products too. With Big Data and analytics, companies can utilize accurate and timely pricing information from various sources, including sales information, to provide competitive and profitable pricing solutions for customers. Data on consumption, sales, and unit costs help companies also evaluate inventory of available products.
4.Research and Development:
Forecast, customers and market trends with better data help to reduce the time for marketing. With real-time intelligence, new products can be accelerated. The company’s resource planning platform (ERP) allows companies to integrate and utilize data from all chemical companies. Bringing all these insights to bear requires a powerful tool for capturing, storing, analyzing, and reporting information.
For the drastic improvement of productivity and profitability, many leading chemical producers are revolutionising the process of big data. manufacturers connect many equipment sensors on the shop floor to increase asset utilization through predictive analysis, the ability to predict equipment failures now keeps our factory running safely and efficiently. The amount of data generated from variable pump speeds, valve vibration analysis, tracking agitator torque, temperature and pressure with a generator operating every minute are surprising. With a new generation of educated talent entering the chemical industry, the core concept of optimization is not only applied to the supply chain, but also to product prices, portfolio planning, logistics and commodity management. All changes to supply chain management, asset utilization, and advanced optimization algorithms define cases of Big Data use in the chemical industry.
With the help of smart manufacturing chemical companies will be more benefited:
Gases which are at lower explosive levels like oxygen, hydrogen sulfide, nitrogen dioxide, sulfur dioxide are to be monitored at every moment.
To meet the demand and supply of energy and power, the raw materials are to be forecasted on a regular basis. The raw materials are like air, water, gas and many important minerals.
3.Phase diagram prediction:
Using computer codes phase diagrams are to be generated which is used to show thermodynamically different phases.
Multiple dynamic operations are to be performed in a chemical plant. For improving energy efficiency technologies like soft sensors which can process a number of data points and also enables the control of nonstandard variable processes.
Collecting and testing of samples are doing previously but with the introduction of Industry 4.0, it monitors the real-time data. For example, piezoelectric composite paints are used to sense cracks or mechanical vibrations of a chemical tank which reduces production risks.
Chemical industries will have numerous impact of regulations.REACH platform is being adopted, various international regional models. Some chemical products are mostly hazardous both the manufacturers and the shippers have to ensure the genealogy of the entire product during its complete lifecycle. Many chemical operators are to be employed and trained for ensuring the quality of the chemical products. The tasks they carry out, and even their physical existence, can now be monitored to ensure that certified operators perform tasks and non-qualified personnel are not physically present. Big data is making the quality check simple and fast with 100% accuracy.