(9c) Data Analytics - a Roadmap to Achieve Operational Excellence
AIChE Spring Meeting and Global Congress on Process Safety
Tuesday, August 18, 2020 - 11:40am to 12:00pm
Ingenero uses the âDigital Twinâ approach to identify operational gaps and effective resolution of issues in timely manner to maximize performance. Ingeneroâs Excellence Through Insight program is successful through combining the right information with in-depth domain expertise and deep data analytics to generate predictive and prescriptive recommendations presented in customized visual displays and dashboards for intelligent decision making.
The success of the process requires the appropriate volume of data. Post collection and mining of data, tool are used for effective reconciliation, validation and consolidation of data to gain insights quickly. This information is utilized as an input for machine learning models and these models convert the raw information into useful statistics/analytics that maximize asset effectiveness.
This paper will discuss Digitalization process utilizing fundamental models combined with data analytic techniques to achieve operational excellence. The appropriate techniques, tools and equipment models that are applied to track the performance and identify the size of deviation and improvement opportunities on real-time basis will be discussed. Additionally the paper will describe how predictive and prescriptive analytics can help determine the impact of deviation, need for corrective action and assist in reaching challenging solutions.
The Industry 4.0 Digitalization initiative is driving industry specific advanced analytics to leverage both historic and real-time data to achieve improvements that are difficult to accomplish using traditional approaches. Substantial economic gains can be achieved when data analytics is coupled with the overall plant operating strategy.
Application of right data analytics process has helped manufacturers to improve their Overall Plant Performance and Capacity by 5 â 15%.