Smart Innovators: EHS Analytics In The IoT Age

Executive Summary

This report helps corporate decision-makers at all levels within the EHS function to better understand the drivers and challenges of the market for EHS analytics while also highlighting capabilities that are available, high-growth areas in the market and a roadmap for future innovations across the technological landscape. Firms seek to improve their analytical capabilities to alleviate key resource constraints and derive actionable insights from their collected data. The field of analytics can be complex and daunting, especially for smaller firms that may not have in-house analytics teams to implement greenfield solutions. The age of IoT and Industry 4.0 is revolutionizing the analytics market, bolstering demand and alleviating key challenges. New technology is empowering old-hat techniques while also facilitating a shift in business focus from lagging to leading indicators to support a proactive rather than a reactive approach to risk management. Historically, the tangible benefits of predictive analytics have been tenuous despite the market enablers and technological advancements; but now some innovative firms and their software providers, having adopted cutting-edge analytics and implemented them into their operations, are starting to reap benefits across a multitude of use cases.