Smart Innovators: EHS Analytics In The IoT Age
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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.Better Understanding Of Digital Analytics Helps Customers Overcome Lingering Barriers
Despite Firms’ Increasing Sophistication And Drive To Improve EHS Analytics, Challenges Persist
Digitization And Firm-Wide Integration Enable EHS Analytics Innovations
Innovations Within EHS Analytics Range From Idealized Possibilities To Grounded Realities
Vendors Deliver Real Usage Scenarios For Predictive And Prescriptive Analytics
Early Adopters Of Analytics Innovations Start To Reap Business Benefits
Future Opportunities For EHS Analytics Centre On Machine Learning
Figure 2. Internal And External Factors Slow Down EHS Software Use For Analytics
Figure 3. Data Management And Analytics Terminology
Figure 4. Adoption Of Digital Technologies In 2019
Figure 5. Integration, Flexibility And Out-Of-The-Box Analytics Are Key Purchase Criteria For EHS Software
Figure 6. Tailored Analytics Offerings For Practical Requirements And Objectives
Figure 7. Analytics Innovations Target Key Customer Pain Points
About the Authors
Sarah Bloch
Director, Advisory Services
Sarah is a Director in the Verdantix Advisory Services practice, with several years of experience leading high-impact advisory projects. She specializes in advising technology…
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Steve Bolton
Research Director
Steve leads the Verdantix EHS research practice, based out of our New York office. He has 25 years of experience advising on sustainability, EHS, circular economy, corporate s…
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