Data Analytics: Data Science Tools for Safety Risk Management
Business analytics are becoming commonplace in the government and private sectors where organizations are using historical performance data and predictive modeling to support a wide variety of operational and business needs.
Performance management related to safety is not new, but risk management solutions which integrate key performance indicators, incident and near miss data, modeling results and subjective inputs from the workforce are propelling organizations into the next phase. Modern data science tools are capable of extracting, integrating and analyzing previously inaccessible and siloed data. Monitoring culture and ultimately predicting safety performance are no longer impossible tasks. Use of these technologies is the vision for the future of risk management.
ABS Group has supported organizations in building innovative digital platforms that use data to monitor, analyze and manage a broad range of operational risk. Our Data Analytics team has worked with both commercial and government clients to develop data-driven risk models that generate quality information about the possibilities for unwanted outcomes. New dashboards are helping our clients intuitively visualize their risk profile and apply valuable insights to improve their operational safety and efficiency.
There are plenty of opportunities to improve data-driven risk management, which can enable significant improvements to safety, cost savings and sustainable performance across a range of market sectors. Data analysis and data management solutions can enhance risk-based decision-making to reinforce a culture of health, safety, and environmental leadership.
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