A new white paper, “Nate Silver, Billy Beane, and Alex Trebek: Making the Case for Predictive Analytics in Workplace Safety,” has been released by Predictive Solutions Corporation, an Industrial Scientific company. It is a resource for those who want to learn how leading safety professionals are making the case to employ predictive models in their workplace safety program.
Making this case is much easier, the white paper states, now that advanced and predictive analytics are proven and pervasive in many industries, business functions, and even in popular culture. The paper reveals dramatic results realized by companies employing the practice within their safety functions, including reduced lost work day rates, reduced incident rates, and reduced costs.
“Some companies have reduced their injury rates by more than 90 percent using advanced and predictive analytics,” said Griffin Schultz, general manager at Predictive Solutions. “Whether in pursuit of improved financial results, or the ability to ensure that every employee goes home safe every day, predictive analytics should be considered as part of a 21st century, world-class safety program.”
Additionally, the white paper summarizes pioneering research conducted by teams from Predictive Solutions and Carnegie Mellon University in the development of powerful safety analytics and prediction models. This is the same CMU department that helped develop the “Watson” supercomputer that originally gained fame by beating the top Jeopardy game show champions, and is now being used to help doctors make better medical diagnoses.
The white paper concludes by explaining that advanced and predictive analytics do not replace safety professionals, but rather extend their knowledge, increase their analysis power, and help direct the use of their often scarce resources.
For a free download of the white paper, visit here.