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2.5 Achieving Business Impact with Data

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For the last two decades chemical industries have been generating, collecting, and storing huge amounts of operation and maintenance data using various software. These data are like a gold mine and now is the best time to achieve an impact with (your) data. More and more data are available, computing power is ever increasing, and mathematical techniques and the so‐called data science are becoming more and more advanced. Yet while data is considered as the “new oil” or the “new gold” these days, several technology‐ and business‐related challenges prevent chemical industries from realizing the potential impact data can make on their business (Holger Hürtgen, 2018).

Profit Maximization Techniques for Operating Chemical Plants

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