Magnitogorsk Iron and Steel Works saves £ 3 million with Data Analytics to the aid

Magnitogorsk Iron and Steel Works saves £ 3 million with Data Analytics to the aidMore than £ 3 million is to be saved in steel making cost when Big Data analytics and machine learning services of Yandex Data Factory is used by Russia’s third largest steel works company, Magnitogorsk Iron and Steel Works (MMK). 12.2 million tons of crude steel and 11.2 million tons of commercial steel products in 2015 by the company is making. This means small proficiencies in raw material costs would return massive savings.

 

Over 7 years of MMK’s steel making records was integrated into the machine learning service designed by Yandex Data Factory which is still been updated to predict the finest combination of ferroalloys needed to produce the required steel products. These products will have the lowest cost and of International standard chemical composition. A 5% decrease in ferroalloys has been achieved by MMK with the help of practical recommendations and these acumens which accounts for £3 million while maintaining the quality.

 

Sergey Sulimov, Deputy CEO for finance and Economy at MMK said that their work with Yandex Data Factory has generated a new wave of the industrial automation with the use of Big Data. And MMk being the forerunner amid industrial companies in Russia for the application of digital tech it means a lot.