Trends indicate that significant resources will continue to be spent on health, safety and environment (HSE) programs in 2018,1 seeing companies naturally looking for new ways to monitor and proactively manage risk. Predictive analytics will become a key player in making better HSE decisions, preventing incidents and injuries based on an accurate picture of likely events, actions and outcomes.
Advisian Digital has combined forces with SaltGrid, a leading data science company, to create a unique service offering. The cloud-based platform applies predictive analytics to HSE data, recognizing patterns and relationships that standard business intelligence does not, to predict the number and types of incidents likely to occur, allowing you to intervene.
What is predictive analytics?
Predictive analytics is the practice of extracting information from large data sets to predict patterns and trends to control future outcomes. The application of predictive analytics is often skewed towards marketing and sales purposes. But these same practices can be applied in the energy resources sector to help prevent accidents, injuries or deaths.
How can predictive analytics prevent my next safety incident?
Predictive analytics automates the carry through of lessons learnt in safety between projects. In an industry where safety is critical, predictive analytics helps asset owners shift from today’s reactive mode towards a more proactive safety culture by delivering higher visibility into what is causing negative outcomes.
SaltGrid, machine learning and artificial intelligence
SaltGrid predicts events using proprietary algorithms that continuously improve over time as data is put into the platform. These events will identify risky scenarios and will highlight the most effective safety activities to mitigate the risk.
SaltGrid’s algorithms apply forecasting, identification and classification techniques through the deployment of stochastic processes, neural networks (CNN, RNN and deep learning), random forest and unsupervised clustering methods. Most of these algorithms are trained, verified and tuned using past historical data. They’ve been proven to be fast, stable and extremely reliable with an average accuracy measured at over 90%.
For example, one analysis SaltGrid undertakes is related to the measurement of preventive measures on incidents. SaltGrid ingests data from HSE activities such as inspections, training, meetings and large-scale infosessions to determine the independent and additive impact these activities have on incidents.
SaltGrid uses deep learning to recognize the relationships between activities and incidents and can determine if a large-scale infosession more effective at reducing incidents than a meeting, and if these two activities make more of an impact when coupled with an inspection.
A different way of thinking
SaltGrid’s powerful, transformative predictive models allow for better deployment of your resources to proactively manage future risks rather than simply responding to past events.
1 Industry Safe, ‘The Top 5 Safety and Technology trends to watch in 2018’, December 11. 2017