Chemical companies around the world are capitalizing on big data to make manufacturing processes more efficient and safe. The increasing number of measurable metrics in addition to powerful software solutions has given company leaders insights and hard evidence to drive making sound decisions, effectively decreasing the time and cost needed to bring a new product to market.
In a study conducted by Lux Research, titled Big Data and Analytics in Chemicals: From Cheminformatics and LIMS to Launch, researches found information technologies, new materials, and sensors are making R&D more efficient. Chemical databases, lab data, and government regulations can be integrated to quicken the pace of innovation.
Ways to improve company efficiency include “monitoring equipment to make sure it’s operating in the safe range, to avoid breakdowns, and hazards like spills or explosions,” said Mark Bünger, VP of Lux Research. Additionally, “better tracking of safety incidents, so the conditions that lead to them and the methods for remediating them are better documented and communicated” will help prevent future recurrences.
Safety software helps companies define the metrics and ranges to measure, provides the platform to manage the data collected, and measures the data collected against the defined metrics and ranges. Once the data has been measured against the defined metrics, managers and business leaders can clearly assess strength, weaknesses, opportunities, and threats.
In operation, increased automation is a rising trend in safety software, which cuts time needed to conduct administrative tasks. The data collected allows for increased company wide safety culture, from how to handle hazardous chemicals safely, to repairs done on machinery. Improved safety culture prevents future incidents from occurring as well as associated work place incident penalties and fines.
In the age of tech big data and safety software is now more relevant than ever before. Make sure your company capitalizes on powerful tools never available before. Quantum offers many solutions to help you capture your data. Give us a call today!