CASE STUDY

How Forecasting Analytics Helped a Major Chemical Manufacturer Find their Preferred Product Data Faster? 

Aug 21, 2022

Highlights of the Case Study: 

Particulars  Description 
Client  A leading specialty chemical manufacturer in Germany wanted to develop an optimal conversational user interface (CUI) to address customer issues and find information about products and services quickly. 
Business Challenge  The client wanted to use advanced analytics to effectively manage inquiries and implement forecasting models to predict demands and specific KPIs. 
Impact  Quantzig’s advanced analytics solution enabled the client to efficiently handle data volumes across multiple channels and address inquiries about products and services. 

Game-changing Solutions for the Chemical Industry 

The recent COVID-19 pandemic adversely impacted the chemical sector, upsetting production and manufacturing schedules. As the world inches toward normalcy, the chemical sector, too, is working on speeding up production in plants. The manufacturing unit is crucial to increasing revenue in the chemical industry. Hence, the manufacturing process must be fully optimized in terms of resource utilization.  

Artificial intelligence is making a significant impact in modernizing all aspects of the chemical industry, such as customer engagement, supply chain management, innovation, production line optimization, and the creation of new channels to reach the market. Quantzig’s advanced analytics solutions can efficiently leverage AI capabilities to optimize process lines, improve maintenance using predictive maintenance analytics, and evaluate revenue leaks.  

The Challenge of the Chemical Manufacturing Client 

The chemical industry has realized forecasting analytics as a boon. Understanding the impact of the analytics model, a leading specialty chemical manufacturer with a German presence worked with Quantzig to develop the optimal conversational user interface (CUI) to address customer issues and find information about products and services more quickly. The client had approached Quantzig to leverage our advanced analytics solutions to manage inquiries effectively. It also wanted to implement forecasting models to predict demand and KPIs. The client wanted to increase customer involvement by enabling convenient access to all product information, offering support, and responding to system problems. Our client was struggling with the following issues:   

  • Notifying customers of the status of a new chemical compound  
  • Cybersecurity  
  • Addressing additional service requests  
  • Envisioning asset failure  
  • Digitization and agile control  

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Quantzig’s Advanced Forecasting Analytics Solution for Chemical Industry  

Quantzig offered the client an advanced analytics solution that implemented automated product updates and delivery notifications to customers. Quantzig’s advanced analytics platform also performed predictive simulations to optimize formulations for cost and performance. The client used several features of the solution, including an extra customer engagement channel, product grade prediction, supplies, inventory check, along with tracking order fulfillment and delivery. Moreover, our solution helped the client integrate the database with enterprise resource planning (ERP) and customer relationship management (CRM) software. This granted the client real-time access to accurate information and greater visibility over all aspects of the business. Our team also identified discrepancies in the client’s distribution process and suggested distribution channels to overcome this challenge. Our AI system enabled the following resolutions:  

  • Real-time tracking and freight settlement functionalities  
  • Predictive maintenance  
  • Automation of administrative tasks  
  • Remote monitoring of equipment condition and performance   
  • Virtual assistant-based customer service  
  • Supply chain inventory management  

Impact Analysis of Forecasting Analytics and Chatbot Automation

The client could provide product information and services faster using Quantzig’s advanced analytics solution. Additionally, the analytics platform generated insights to streamline and maximize customer satisfaction. The client efficiently handled data volumes across phone, email, chatbots, messaging, website, and social media. In addition, the analytics platform handles floor queries and helps to avoid undesirable surprises about products.  Our solutions unlocked the following benefits for the client: 

  • Reduce email requests and phone calls  
  • Eliminated idle lab time through automated 24/7 testing  
  • The solutions saved time and money with chatbot automation  
  • The solutions helped the client offer 24/7 customer service and operations  
  • Reduced costs and increased margins  

Key Outcomes of Advanced Forecasting Analytics: 

Quantzig’s intervention helped address our client’s several pain points, including the need to increase engagement with its customers. It also allowed the client to integrate ERP and CRM to deliver better customer service. We also helped the client streamline other aspects of the business, such as production and supply, to provide an end-to-end solution.  

Broad Perspective on the role of Chatbots and AI in the Chemical Industry: 

The chemical industry is among several fields and activities witnessing the emergence of AI-powered chatbots. Chatbots can be programmed to answer complex inquiries or requests in bulk while giving instructions. Deploying such an automated tool has allowed facilities to streamline processes and free resources to focus on more complex tasks.  

AI can also be utilized to speed up product innovation between the stages of the process and product development. Chemical businesses can accurately optimize performance and cost by using machine learning and advanced analytics algorithms based on historical data. 

 Key Takeaways 

  • Quantzig’s solutions helped the client increase the accessibility and reliability of its operation.  
  • The conversational AI solutions helped resolve 20%-40% of issues via chats without needing a customer service advisor in the conversation.  
  • Implement real-time pressure and temperature control insights necessary for the chemical plants. 
  • Streamlined the supply chain and production processes  

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Related Articles: 

Optimized Customer Experience with Data Analytics for Specialty Chemical Industry Client 

How Retail Demand Forecasting Helped in Optimizing Supply Chain Operations by Forecasting Demand for Five Years? 

How Big Data Analytics in Oil and Gas Industry Enabled to Modernize its Global Data Platform? 

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