Tom and Sue live in the Northeast of the United States. They are both working, consider themselves middle class and their salaries enable them a reasonably good livelihood. They use their partner-credit cards for shopping, sometimes using up their credit range. For the World Cup they wanted a new big screen and a new barbecue for the garden to celebrate the national soccer team with their friends.
But when paying there was a problem: all of a sudden the card's credit line was drastically reduced. Tom and Sue were never officially informed about the reason for this radical measure: their shopping behavior shows a considerable accordance with typical shopping patterns of couples that are going to get divorced in the course of two years. The accompanying trouble brings the banks to reduce the credit range as a precaution and therefore also the risk of a divorce. Based on statistical values Big Data influences individual fates. For some reason there are significant breaking-downs of the process' yield in the Chinese factory of a big European Chemistry company several times per year. The experts are helplessly studying the causes. Finally, after analyzing all available measurement data collected over a long period in the facility, they are able to see a correlation between the data of a technologically preliminary stage and the yield of the end product. And as a matter of fact the yield problems can now be solved by way of appropriate measures.
Big Data contributes to the efficiency in the process industry. Are these examples fiction or reality? In any case there are always several sides of a new technology as there are always two sides of the same coin. The review whether and how a new technology is used, where its opportunities and risks lie and how the results are to be assessed, is for the experts and decision-makers to carry out.In addition it is becoming more and more important to be informed far beyond subject limits.
Only the one who is well informed and makes good decisions on the basis of that will take the lead in the competition.I hope you enjoy reading the latest CHEManager International. We offer you the information, which help you to sustainably pursue the interests of your business, your employees and your surroundings.