MARKETING AND PRODUCT DEVELOPMENT STRATEGIES IN THE CHEMICAL INDUSTRY USING DARK DATA DATA SCIENCES

摘要

The GDP contribution from the Industrial sectors is ~$25T, of which the Chemicals and Plastics Industry, is ~$4T in revenues. This traditionally product-centric industry is transforming into a market-facing growth machine. While chemistry and product innovation will always be pillars of the industry's strength, prioritization of the development efforts are shifting heavily towards marketing strategies and identification of attractive segments. However, Marketing and Segmentation strategies at chemical companies currently rely on the use of traditional methods such as expertise, relationships, customer feedback, sales calls, static market reports, strategy consultants and patent searches. On the other hand, the use of data, advanced data sciences and automated intelligence is prevalent in the consumer- marketing world. This paper intends to open up and inspire possibilities - in fully utilizing these advances in data sciences from the consumer space, and applying them to the industrial space, in tandem with the extraction of relevant dark data. Deep industry expertise can be augmented by data sciences & big data analytics, mobile and social platforms and technology, to form a potent mix, which will catalyze this transformation.