December 8th, 2022 | 09:38 CET
BASF, Kleos Space, Amazon - With Big Data to share price success
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Born in Bielefeld, she studied German, English and psychology. The emergence of the Internet in the early '90s led her from university to training in graphic design and marketing communications. After years of agency work in corporate branding, she switched to publishing and learned her editorial craft at Hubert Burda Media.
BASF SE - Big Data to optimize production processes
Digitization processes in large corporations like BASF SE hold real treasures. In order to unearth them, a large portion of innovative strength is required. BASF is cooperating with LSU, a US college of engineering, to optimize the efficiency of data mining processes. This will better structure data to effectively compare current and past operating conditions.
"Chemical production is complex," says Kerr Wall, digitalization manager in BASF's Monomers division. "Operating conditions can change from minute to minute, and a lot of data needs to be analyzed. Big Data offers a great opportunity to optimize our processes and become more predictive to improve our yield and energy consumption. As a result, we become more energy efficient and support our global value of producing chemicals for a sustainable future."
Monomers are chemical intermediates used in the manufacture of products such as coatings, adhesives, high-performance lubricants, flavorings and printing inks. The LSU project is designed to help find optimized and automated workflows.
**"Instead of waiting 12 hours for a lab sample or for the next shift to take a new sample, LSU can help us predict what will happen in our plants based on data and AI alone," Wall said.
Before this collaboration with BASF, the LSU team completed a similar project with the oil and gas company ExxonMobil. The first LSU student to earn a doctorate from that project was Gregory Robertson, who now leads applications engineers in automation and innovation at ExxonMobil in Baton Rouge. So it pays to work with universities to hire next-generation Big Data specialists right off the bat. The share is currently trading at a price of EUR 47.44. With a ranking of 34th and a minus of 1.01%, BASF is in the bottom third of the DAX. The share currently has a trading volume of 756,620 traded shares.
Kleos Space - Data marketplace cooperation with Airbus Defense subsidiary UP42
Sensitive data is also at stake at Kleos Space. Piracy still exists on maritime routes. According to Statista, product tankers were the most frequently attacked by pirates worldwide in 2020, with a total of 53 attacks recorded. Other vessel types that were attacked more frequently were bulk carriers and container ships. To identify criminal acts in advance, Kleos Space created security software.
Kleos is a space-based Data-as-a-Service company with offices in Luxembourg, the United States and the United Kingdom. Kleos locates radio transmissions in critical areas around the globe, allowing it to efficiently detect human activity on land and at sea. Radio frequency-based satellites in space are used to locate conspicuous movements. The data is analyzed through their proprietary software, and the technology and geolocation data are offered as a service.
Thanks to Elon Musk, another technology from Kleos Space is going into space. The Transporter 6 mission will be launched from a SpaceX Falcon 9 rocket. The launch date is currently scheduled for mid-December 2022.
The four Kleos satellites will be launched into a sun-synchronous orbit from Cape Canaveral Space Force Station in Florida. Spaceflight Inc. contracted ISILAUNCH to provide launch and integration services on behalf of Kleos.
Equipped with AIS, VHF and X-band payloads, the satellites expand Kleos' data collection capacity by up to 119 million sq km per day. This will allow Kleos to increase its average daily overflight rate over the 15-degree latitude area to approximately five times per day. More speed, more data.
Kleos Space has partnered with the leading geospatial developer platform and marketplace UP42 to add their geolocation data to the UP42 offering. The Berlin-based company is a subsidiary of Airbus Defence and Space.
Eric von Eckartsberg, chief revenue officer of Kleos, explains, "UP42 offers its users a wide range of data sources, such as satellite imagery with algorithms to identify objects, detect changes and find patterns. The addition of our precise radio frequency geolocation data, Low Earth Orbit technology, and industry expertise will benefit all UP42 platform customers. We look forward to unlocking new opportunities by merging these datasets with existing imagery data and algorithms. By making our data available through UP42, we gain access to an even larger number of potential customers and increase our market penetration."
Amazon AWS - Entering the insurance business
Every time we go shopping online, we reveal intimate details about our consumer behavior to retailers. For example, the supermarket chain's data analytics team at Target, was able to identify patterns based on online purchases that indicate whether or not a customer was pregnant. Women are more likely to buy unscented body lotions at the beginning of the second trimester. Women are also more likely to make purchases of supplements such as calcium, magnesium and zinc during the first 20 weeks of their pregnancy.
That is why it is no surprise that Amazon's cloud division, AWS, is now getting into the insurance business. The insurance company American Family Insurance has chosen AWS to advance its corporate IT and accelerate its digital transformation. Through the cloud migration, American Family will be able to centralize its IT infrastructure to reduce operational costs, improve business performance and expand support for the company's 13.1 million policyholders.
Once the migration is complete, American Family will be able to leverage AWS analytics, compute, database, machine learning, security and storage capabilities to increase efficiency, improve responsiveness and become a more agile business in the cloud.
In addition, both collaboration partners will create a joint innovation fund. This is part of their commitment to developing new and beneficial solutions for consumers and the insurance industry. The fund aims to identify, test and develop new ways to support consumers' insurance needs that could be widely adopted across the insurance industry. Knowing the Target retailer's early steps is the perfect fit. Amazon shares are currently trading at EUR 83.28.
BASF relies on Big Data analytics to optimize production processes to prepare for the future. Kleos Space has already turned its RF geolocation data into a business model and is now growing its sales by partnering with data marketplace UP42. Amazon AWS is helping a major US insurer get up to speed, positioning itself in pattern recognition of insurance needs. So the next time you order a chainsaw online for your gardening needs, you may receive mail from an Amazon insurance partner shortly after...
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