(57g) Business Value, Work Process, Analytics and Data in the Chemical Industry (Poster)

This presentation will begin with a discussion of the major categories of business value that can be unlocked by applying analytics to production activities, including asset reliability, production optimization, energy efficiency optimization and safety performance improvement. It will then explore how value is realized through transformation of work processes to identify several key requirements of digitalization programs and analytics, suggesting answers questions such as:

• Should I use the cloud for analytics?
• Is my process and predictive technology data sufficient to support analytics?
• Do I need to use artificial intelligence?
• How important are metadata (metadata are plural!)?

The presentation will include a demonstration of first-principles-based analytics approach applied to early detection of asset failure in support of a top quartile maintenance work management process.