Big data and analytics can reduce R&D cost in chemical industry

Big data and analytics can be a big boon for researchers in the chemical industry as they can reduce cost of R&D. “Big data and analytics have been a hot topic in consumer-oriented businesses for years, but now new advances are bringing them to the chemical industry. These tools address the complete chemical manufacturing lifecycle from R&D to market, cutting the cost and time needed to bring a new product to market,” said Lux Research, which has brought a report, ‘Big data and analytics in chemicals: From cheminformatics and LIMS to launch’.
 
Novel sensors, materials and information technologies are making R&D more effective, integrating lab data with chemical databases and academic literature, and quickening the pace of innovation cycles.
 
“The business case for cheminformatics is based on assay-specific improvements in data acquisition, aggregation and analysis. Just as in the adage, ‘six weeks in the lab can save you an afternoon in the library,’ the growth of open science tools and data offers the biggest opportunity for advances, but challenging cultural changes must come first,” said Mark Bunger, Lux Research VP and lead author of the report.
 
Lux Research analysts evaluated the impact of big data and analytics on chemical research and commercialisation. As per the findings, smaller, cheaper and better sensors are a driving force. In chemical research, room-sized instruments now fit a benchtop and benchtop tools fit a factory worker’s hand, allowing one researcher to do the work of a dozen. Further efficiencies come from cheap satellites and drones that gather data about chemicals in the environment.