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Time: 2017-02-17

With the increasingly severe market environment and increasing challenges, chemical companies can no longer rely on traditional means such as cost cutting and balance sheet cleaning to improve performance. In order to survive under such a premise, enterprises must explore the unknown territory and foresee the unknown world.

Breakthroughs in renewable energy will continue to drive the shift in energy choices. Companies must review their business strategies to adapt to the unpredictable changes in the market environment.

To navigate the increasingly volatile and complex market environment, global chemical companies must consider transformation, experts say. The success of the transformation will largely depend on how we respond to changes in information technology, digital design and discovery, commercialization of materials systems, biotechnology, manufacturing technologies, and collaboration across ecosystems.

A powerful and comprehensive multi-level data sharing platform is the basis for this transformation. With the support of the database, enterprises can not only measure the investment, related cost status,

The raw materials

Price differences and transport costs, but also to monitor and understand a number of complex multidimensional variables.

"Over the past 20 years, companies have invested heavily in the initial construction and maintenance of systems to streamline processes," says jiaming li, director of strategy and operations at deloitte China. The availability of systematic data for in-depth analysis has increased dramatically, making deep data analysis possible today. The focus is shifting from "what to do" to "what to know."

Li adds: "the functions of digital applications are not limited to this. Continuous digital lines will redefine every aspect of chemical production from product development to manufacturing. "Digitalization has begun to take root as companies apply new tools and technologies throughout the value chain.