February 2018

Trends and Resources

Business Trends: The impact of industrial analytics on the chemical industry

The opportunities for industrial analytics within the chemical industry, and how advances in machine learning can impact revenue, operations, employee safety and capital investments, are analyzed here.

Vesely, E., Presenso

The opportunities for industrial analytics within the chemical industry, and how advances in machine learning can impact revenue, operations, employee safety and capital investments, are analyzed here. In both operational and financial measurements, the chemical industry has outperformed other sectors in the last 15 yr. Balancing this optimism, a March 2017 report by management consultancy McKinsey & Co. suggested that “the golden era may be coming to an end,” and pointed to slowdowns in total returns to shareholders (TRS) and return on investment capital (ROIC). McKinsey forecasts decelerated growth over the next decade and variations by region. As can be seen in FIG. 1, although overa

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