Global spending on data analytics is expected to reach $275B in 2022, according to IDC’s Worldwide Big Data and Analytics Spending Guide. A lot of media attention goes to how Amazon uses data to drive supply chain efficiency and speed, or how Netflix’s algorithm knows to recommend Stranger Things for my queue rather than Bridgerton.
While construction and manufacturing have been much slower to invest in data analytics capabilities than other industries, that’s changing fast. 95% of manufacturers recently surveyed reported that they’d seen increased productivity as a result of implementing predictive maintenance. And venture capital investment in construction technology is outpacing overall VC spending 15 times over (especially in project management, back office, and on-site execution), suggesting that the construction industry is slowly but surely embracing digital transformation.
Especially relevant for the ISEA audience: firms are upping their investments in analytics to keep employees safe. In addition to being the right thing to do, the cost of injuries on the job is enormous – as much as $352 billion annually. In order to innovate in how we keep workers safe, companies are using data analytics, machine learning, and other tools to do what no single human can.
For example, while incident reports capture valuable information, they often leave out potential causal factors such as equipment operation data, vehicle telemetry, training records, etc. That makes it nearly impossible to develop mitigation strategies to address these contributing factors. This is a natural application for data analytics, even if for organizations without a connected worker strategy.
To talk about trends in how companies are using data analytics to understand trends in injuries, workers’ compensation claims & the economic cost of risk, I’m excited to welcome Scott Bellack, Senior Vice President of Workforce Strategies to the ISEA Annual Meeting. Scott will share perspectives on:
- Trends in worker’s compensation and injury, based on Marsh’s Blue[i] (the world’s largest data lake on worker safety)
- Trends in worker safety driven by emerging industries (e.g. the entire EV lifecycle) and different ways of working (e.g. robotics, drones, autonomous vehicles)
- How end-users are using data analytics to predict the cost, likelihood and severity of a safety incident before it happens (the economic cost of risk)
To make the session as valuable as possible, I’d like to invite all ISEA members to let us know what questions you’d like us to ask Scott, in this fireside chat. If you haven’t registered yet, get in before the early bird rate expires on Sept 14.
Please send me an email with any questions you have for Scott, and we’ll tee it up for him to address!