Executive Briefings

Chemical Industry to Be Transformed by Continuous Collection, Analysis of Data - PwC

The advent of continuous data collection and analysis has the potential to change the face of the chemical industry, and will create the need for platforms allowing companies to analyse a material throughout its value chain, consultants at PricewaterhouseCoopers (PwC) said.

In the future envisioned by PwC, the chemical industry will be able to collect and analyse data on polymers and other chemicals throughout their lifecycles - from their creation, to their sale to other manufacturers, to their incorporation into final end-products, to their sale to end consumers and to their uses by those consumers, said Vijay Sarathy, principal at Strategy&, the global strategy consulting arm of PwC.

“The data has always existed. But now there’s the ability to capture data from every part of your value chain and analyse it,” he said.

Chemical companies already collect and analyse plenty of data, but this is often done at individual parts of a product's cycle, Sarathy said. He expects companies will soon develop data threads that will run across the lifecycle of a chemical.

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In the future envisioned by PwC, the chemical industry will be able to collect and analyse data on polymers and other chemicals throughout their lifecycles - from their creation, to their sale to other manufacturers, to their incorporation into final end-products, to their sale to end consumers and to their uses by those consumers, said Vijay Sarathy, principal at Strategy&, the global strategy consulting arm of PwC.

“The data has always existed. But now there’s the ability to capture data from every part of your value chain and analyse it,” he said.

Chemical companies already collect and analyse plenty of data, but this is often done at individual parts of a product's cycle, Sarathy said. He expects companies will soon develop data threads that will run across the lifecycle of a chemical.

Read Full Article