A global data analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest big data management study for a chemical company. The study highlights how big data strategies can be implemented by companies to manage huge volumes of data to reach their production goals. It also gives detailed insights on how big data management can help companies to improve efficiencies in business processes.
Increasing complexities of global supply chains have posed various challenges for companies operating in the chemical industry. It has not only resulted in price fluctuations for raw materials but has also increased customers’ demands. Such challenges have compelled chemical companies to leverage big data solutions that can analyze real-time information in every step of their production process. Also, formulating a big data strategy can enable companies to revamp their internal business operations.
The Business Problem: The client is a renowned chemical company that serves more than 30000 customers across five major segments. The company manufactures chemical substitutes for companies operating in the petrochemical, gas manufacturing and pharmaceutical sectors. Dealing with such a diverse consumer base was consuming a significant time and was complicating their work orders. This was restricting the chemical company from fulfilling orders and reaching production goals. Also, the slow decision-making process was resulting in financial losses for the company. This compelled the client to leverage Quantzig’s big data analytics solutions to extract meaningful insights and enhance their decision-making process. Also, by utilizing big data analytics solutions, the company wanted to gain a better understanding of their customers’ behavior.
“Big data solutions have become a necessity for companies in the chemical industry to identify potential bottlenecks and new market opportunities. Also, they help companies to generate higher profits, increase production yields and improve process efficiency in businesses,” says an expert from Quantzig.
The Solution Offered: The big data strategy offered by the experts at Quantzig helped the client to analyze global raw material costs and average selling prices of chemical products. This increased the productivity and profits of the company and improved the efficiency of their processes such as manufacturing, distribution, and delivery. The big data solutions also helped the company to analyze their customers and their needs and buying patterns by enhancing visibility into their internal sales and manufacturing data. This helped them personalize their service offerings achieve better savings in operations. Also, big data technologies increased periodical margins for the company by amalgamating data with inventory and ordering backlog data-sets.
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Quantzig’s big data solutions helped the client to:
- Reduce supply chain and labor costs.
- Identify price fluctuations.
- Managing huge volumes of data can be a tough task at times.
Quantzig’s big data solutions offered predictive insights on:
- Enhancing manufacturing, distribution, and delivery processes.
- Determining customers’ needs and buying patterns.
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