Data and analytics are playing a revolutionary role in the chemical industry. This chapter provides an overview of the challenges confronting the chemical industry and the opportunities to transform the industry by aligning data analytics and strategy. We look at various facets of the chemical industry and outline data analytics’s role in production and research strategies and marketing and customer service strategies. The chemical industry is also successfully implementing analytical techniques used by various other industries such as retailing and finance to create value through differentiation and rethinking customer offerings. We also describe Big Data and analytics opportunities to offer the industrial Internet of Things (IoT) strategy and industry 4.0 to drive performance and growth. Finally, we outline the limitations of data analytics and opportunities for future research in this area.
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Soofastaei-Publications (SP) is a newly founded global publisher that produces specialized and high-quality books and e-books and holds world-class conferences and webinars.
This organization is a part of Soofastaei Institute, which provides technical business solutions, publications, and educational services in the field of advanced analytics and AI in various industries.