LONDON–(BUSINESS WIRE)–Quantzig, a global data analytics and advisory firm that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest predictive analytics engagement for an industrial gas manufacturing company based out of North America. As the total production volume and sales declined drastically over a period of five years, advanced predictive analytics was perceived as the only way for the client to analyze factors and improve their production curve.
Industrial gas manufacturing companies gather huge volumes of unstructured data through their advanced process control (APC) and manufacturing optimization systems that can help examine and predict equipment performance in real-time. Today industrial gas manufacturing companies can no longer rely on simulation models to acquire and analyze data, as such models generally assume the steady-state of operations and do not consider real-time conditions that impact machine performance. As a result, industrial gas manufacturing companies are on the lookout for advanced predictive models and analytics solutions that can help them visualize the value and devise systems for improved outcomes. Predictive analytics can help the oil and gas industry predict downtime by analyzing factors impacting exploration, drilling, and refining processes.
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The Business Problem
The client’s business processes mainly revolved around industrial gas manufacturing, refining, and distribution, which resulted in the generation of complex machine & sensor data. With both real-time and historic data volumes increasing with every passing day, the industrial gas manufacturing client sought smarter ways to use predictive analytics models to drive greater results. To do so, the industrial gas manufacturing company wanted to develop a robust predictive analytics program and build the foundation for an analytically astute organization that focuses on the use of predictive data analytics models to improve decisions and enhance outcomes.
“Downstream oil and gas companies should leverage predictive analytics models to gain deeper insights into transport, supply chain, and distribution processes,” says a predictive analytics expert from Quantzig.
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Our predictive analytics solutions empowered the industrial gas manufacturing client to analyze both past and real-time data being generated by planning, drilling, production, refining, and distribution processes to better analyze factors curtail productivity. By leveraging predictive analytics, the client was also able to interpret, visualize, cross-filter, and interact with the complex data sets to drive efficiency across processes.
Quantzig’s predictive analytics solutions helped the client to:
● Increased industrial gas manufacturing and recovery rates by 23%
● Fewer incidents were reported of all types, including product spillage and emissions
● Enhanced operation excellence by adhering to industry standards
● Better risk management through accelerated decision-making
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal