Chemicals and Petroleum
Most of the world’s top chemicals and petroleum organisations rely on IBM Business Analytics software to deliver smarter operations and performance, including four of the top five global chemicals companies.
Business intelligence software lets you consolidate, track, analyse and report on relevant data. Financial performance and strategy management software provides planning, budgeting and consolidation for linking strategy to dynamic plans and targets.
Advanced analytics software gives you the insight to anticipate trends and predict future outcomes. And analytic applications give you a quick start with a particular issue or domain.
Sales and operations planning
- Monitor fluctuating raw materials costs – such as oil – to better control expenses.
- Identify high and low performing areas, and automate oil field testing.
- Plant specific P&L statements can be generated in order to achieve the best balance between meeting customer demand and profitability.
Supply chain performance management
- Monitor and analyse your supply chain to control expenses going to labor, supplies, services and other areas across the chain.
- Align sales, marketing, supply chain and finance plans and objectives.
- Compare and benchmark raw materials, energy and other suppliers in terms of quality, delivery and price.
- Use predictive analytics to identify when equipment or assets are likely to fail or need service.
- Identify the root cause of product failures, and address issues to reduce warranty cost and improve customer satisfaction.
- Determine the characteristics that increase ownership cost and downtime over the life of a system.
With analytics, companies can consolidate data from a variety of sources—production, reserves, accounting and wells—into a single operational view. More and more organizations recognize
the value of implementing a holistic, integrated BAO approach to replace standalone, ad hoc solutions in which information is siloed and disconnected.
A Business Analytics and Optimization approach can offer chemicals and petroleum companies many competitive advantages, including:
- Improved production efficiency by providing near-real-time information and analytics.
- Greater collaboration by embedding analytics within business processes, organizational roles and responsibilities.
- Measured and managed business tactics to support alignment with the business strategy in near-real-time instead of requiring decision makers to rely on traditional leading and lagging indicators.
Applying Business Analytics and Optimization to the chemicals and petroleum industries