Chemical companies are beginning to recognize the value of data created within their plants, but for many, the use of that data does not extend past manufacturing operations. The data is not visible to roles outside the four walls, and companies can’t combine it with corporate or financial data for value-added analysis and superior execution. However, some organizations are beginning to provide this visibility and integrate their data into wide-ranging business and operational analytics, with the expectation that combining manufacturing, supply chain, and financial data, and even data external to the company, can drive higher profitability by uncovering "hidden" opportunities and previously unrecognized synergies for improvement.  In this research, LNS explores:

• The relationship between operational performance and the use of newer operational technology (OT), industrial internet of things (IIoT), and advanced analytics platforms in performance improvement; and
• The impact of these capabilities on corporate performance.

 Our initial survey findings reveal that the top three challenges facing chemicals companies are:

• Market forecasting and supply chain visibility
• Leveraging and deploying new technologies
• Difficulties in improving Operational Excellence

and the top three areas for future investment are:

• Operational systems
• New production technology
• Big Data and predictive analytics capabilities