SGS has developed the BE Engine to help businesses successfully navigate today’s complex markets, providing them with a proactive approach to risk mitigation across the value chain.
True business enhancement can only be achieved when an organization evolves from simply reacting to business and market fluctuations, to proactively predicting risks and implementing successful mitigation strategies before they can affect the bottom line.
Data analysis application for business used to be descriptive and diagnostic, now it’s transformed to predictive, prescriptive and cognitive.
THE IMPACT OF BIG DATA
Since the introduction of ISO’s first standard in 1951, businesses standards have become an increasingly important asset for running a successful organization. Made up of multiple clauses and sub-clauses, they act as a way for companies to audit whether they are following a defined set of ideal business practices. These standards also act as a framework for driving forward improvements within the organization.
Not so long ago it would have been very difficult to properly analyze all the data collected during an audit, and impossible to drill down into it and compare it with the information from other audits of the business and across the industrial sector. Without doing this, it is difficult to identify where potential problems may be hidden.
Organizations may adopt multiple standards, covering a range of objectives – quality management systems, environmental management systems, and industry-specific standards. In today’s data driven world it is possible to effectively analyze all the data that is generated during these audits and then drill down into it to see whether the organization is meeting the expected requirements. While compliance or non-compliance to a whole standard may hold some bias, when we are looking as whether a business conforms to a certain benchmark there is no bias as the question is simply whether there is evidence of compliance or not. Because the auditor does not need to make a judgement call over whether the organization conforms to the intended standard, there is no bias.
Big data is transforming the testing, inspection, and certification (TIC) industry. Clients are now generating larger volumes of data, at higher velocities, and with greater variety. This has created an opportunity for TIC businesses to use compliance data to gain greater insights into the operations of an organization. These insights can then be used by technical experts to identify root causes, before providing clients with a bespoke training solution that offers true Business Enhancement.
SGS BE ENGINE
Business Enhancement (BE) Engine is a data transformation methodology and business intelligence tool. Using the data SGS has gathered from over one million audits, covering 200,000+ customers, in 39 industries, the system can give clients meaningful insights into the pain points that are impacting both their operations and the industry.
Pain points that are identified by the methodology might not yet have become problems within the value chain but, because they have been identified as non-conformities, they represent an area where the business is not operating optimally. If the wrong situation then arises, these areas of non-conformity could potentially become major problems. This is where high level industry experience becomes important as it will identify which areas of non-conformity hold the greater risk in terms of probability and potential impact.
Established as a business intelligence platform, the BE Engine covers analytics, intelligence, and transformation. Analytics begins with the analysis of SGS’s certification and auditing data, which is segmented by the risk areas in each industry. Intelligence provides both basic and in-depth assessments of the client’s auditing performance and compares it to various industry benchmarks. Finally, transformation goes beyond simply identifying pain points by identifying major impact areas, which can then be used to recommend training strategies to help mitigate risk and improve employee engagement.
Businesses need to optimize their operations in order to remain viable in today’s competitive, changeable, global markets. It is no longer acceptable to rely on out-of-date, siloed data to make decisions that will affect the future performance of a business. The BE Engine allows pain points to be identified for the individual business, industrial sector, and geographical region. SGS’s high level industry-specific experts then identify root causes and potential solutions to create a tailormade risk mitigation solution. The BE engine does not just offer a way to review the operational integrity of an organization, it provides a roadmap to true business enhancement.
About SGS
We are SGS – the world’s leading testing, inspection and certification company. We are recognized as the global benchmark for quality and integrity. Our 96,000 employees operate a network of 2,600 offices and laboratories, working together to enable a better, safer and more interconnected world.
