Thrive through digital disruption: Insights from Siemens & Deloitte for energy & chemicals businesses

The heat is on for asset-intensive industries like energy and chemicals.
 
Whether your business goal is to improve petrochemical plant operations, design and deliver assets on time and under budget, or meet increasingly stringent emissions reduction targets, embracing digitalization must be at the core of your strategy.

Yet with digital technology breakthroughs happening almost weekly and buzzwords everywhere, what’s a practical approach for embracing digital transformation to meet your goals? To answer this question, energy industry experts from Siemens and Deloitte discussed crucial learnings from recent energy and chemicals business digital initiatives that set the stage to effectively adopt and profit from technologies like AI, machine learning and data strategy.

Click here to watch the 28-minute Siemens + Deloitte Dbriefs webcast or watch video highlights below.

Mergers & acquisitions have created data integration challenges for energy & chemicals businesses

As discussed below by Brittany McGinley, Senior Manager, Digital Transformation & Product Strategy at Deloitte, energy and chemicals businesses began widely adopting a digital-first strategy around 2020 during the COVID-19 pandemic. 

Due to the large and highly complex mergers and acquisitions in the energy and chemicals industries over the last 20 to 30 years, companies often have many fragmented systems serving the same purpose. Watch the clip to learn about the importance of adopting a single solution that consolidates and connects data sources from across the enterprise.

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Establishing an effective data strategy should be the foundation of your AI strategy

With so much consolidation having taken place in energy and chemicals businesses, establishing a robust data strategy is a crucial foundation for businesses to benefit from AI and machine learning. As discussed below by John Nixon, Vice President of Strategy for Energy, Chemicals and Infrastructure at Siemens Digital Industries Software, creating a data strategy involves:

• Taking an inventory of all your data
• Removing inaccurate, incomplete, and duplicate data (a process known as “data cleansing”)
• Connecting and integrating your data

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Energy & chemicals businesses must balance data integration investments with organizational responsiveness

As organizations invest in data integration, their business must be responsive to the benefits it provides. Watch the clip to discover how well-orchestrated and traceable data can empower specialist personas inside energy and chemicals businesses with reinterpreted data that is unique and insightful to their specific job role.

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Ready to learn more about thriving with digitalization? Watch the entire Siemens & Deloitte discussion

The energy and chemicals industry faces unprecedented complexity and digital disruption, and businesses must adapt. To learn how your business can embrace digitalization to thrive in this fast-changing era, watch the full Deloitte Dbriefs webcast.