Descriptive and diagnostic analytics help EHS leaders to predict workplace incidents with more than 85% accuracy and thereby take preventive measures in advance to minimize the risk exposure of employees as well as organizational assets.

According to some of the estimates provided by the National Safety Council, an average workplace injury can cost a company approximately US$41,000 in compensation, productivity, and medical and administrative expenses. The cost of a workplace fatality are, of course, even higher and can sometimes exceed US$1.2 million. Workplace injuries also include indirect costs such as the negative impact on employee morale and productivity, potential property damage, the impact on families and communities, and significant erosion of business reputation. These indirect costs can often be several times higher than the direct costs.

Therefore, taking an analytics-driven approach to proactively mitigate risks and hazards is longer a wishful want for EHS leaders. Instead, it is a strategic imperative and a sound business investment.