Safeguarding reputation and improving efficiency through data-driven risk models
With advances in technology, companies are now collecting far greater quantities of data about their business processes and assets than before. However, existing assurance processes rarely benefit from this data, which limits access to richer insight and may lead to false assurance on performance.
There is also the potential for legal implications following an accident, in which a company may be judged to have failed to act on data that indicated an accident was foreseeable. Data-driven modelling approaches better exploit the value of these new sources of disparate data and are readily transferrable into multiple industries, such as utilities, transportation and oil & gas. This viewpoint describes the successful application of this approach in the utility sector, which has led to improved business efficiency by better allocation of limited assurance and operational management resources.
Released: November 2017
Download File ADL_Generating_business_value.pdf (.PDF, 514 Kb)
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