Benchmark Gensuite Case Studies Heico Calls on AI to Predict & Prevent Potentially Serious Injuries and Fatalities (pSIFs)

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	Heico Calls on AI to Predict & Prevent Potentially Serious Injuries and Fatalities (pSIFs) Benchmark Gensuite

Heico Calls on AI to Predict & Prevent Potentially Serious Injuries and Fatalities (pSIFs)

Benchmark Gensuite

Technology Category	Analytics & Modeling - Big Data Analytics Analytics & Modeling - Machine Learning
Applicable Industries	Construction & Infrastructure Metals
Applicable Functions	Maintenance Quality Assurance
Use Cases	Machine Condition Monitoring Predictive Maintenance Root Cause Analysis & Diagnosis
Services	Data Science Services System Integration
Challenge	The Heico Companies, a holding company with a diverse industrial portfolio, was facing challenges in identifying and managing Serious Injuries and Fatalities (SIFs) across its various firms. Traditional approaches to reducing SIF potential, such as Heinrich’s Safety Triangle, were proving inadequate as they often misidentified the fundamental issues causing SIF events. The company needed a more nuanced method to reduce SIF rates, especially given its global presence and mixed portfolio. The challenge was to identify tasks with high potential for SIFs rather than focusing on more common severe or non-injury events. Additionally, the company needed to understand industry or region-specific workplace situations with high SIF potential. Read More
About Customer	The Heico Companies is a holding company with a diverse industrial portfolio. It owns more than 70 firms operating at different risk levels, including metal processing, construction, and industrial technologies. The company operates across mixed verticals in multiple regions, making the management of Serious Injuries and Fatalities (SIFs) particularly challenging. The company needed a comprehensive approach to reducing SIF and potentially Serious Injuries and Fatalities (pSIF) events across varied industries and geographies. Read More
Solution	To address these challenges, Heico implemented the Benchmark pSIF AI Advisor, a tool developed by Benchmark Digital Partners and Bowers Management Analytics. This tool uses Machine Learning and advanced data analysis to identify potentially Serious Injuries and Fatalities (pSIFs). The AI Advisor was implemented through a one-time data analysis of 20,000 data points between 2018 and 2020, identifying 699 pSIFs with 95% accuracy. These findings were incorporated into Heico's firm-wide plan for continuous improvement in dealing with the root causes of pSIFs. The AI Advisor provides a holistic, firm-wide approach to tracking, identifying, and minimizing pSIFs through standardized data analysis. This allows for more actionable insights compared with traditional methods. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Big Data Analytics

Analytics & Modeling - Machine Learning

Applicable Industries

Construction & Infrastructure

Metals

Applicable Functions

Maintenance

Quality Assurance

Use Cases

Machine Condition Monitoring

Predictive Maintenance

Root Cause Analysis & Diagnosis

Services

Data Science Services

System Integration

Challenge

The Heico Companies, a holding company with a diverse industrial portfolio, was facing challenges in identifying and managing Serious Injuries and Fatalities (SIFs) across its various firms. Traditional approaches to reducing SIF potential, such as Heinrich’s Safety Triangle, were proving inadequate as they often misidentified the fundamental issues causing SIF events. The company needed a more nuanced method to reduce SIF rates, especially given its global presence and mixed portfolio. The challenge was to identify tasks with high potential for SIFs rather than focusing on more common severe or non-injury events. Additionally, the company needed to understand industry or region-specific workplace situations with high SIF potential.

About Customer

The Heico Companies is a holding company with a diverse industrial portfolio. It owns more than 70 firms operating at different risk levels, including metal processing, construction, and industrial technologies. The company operates across mixed verticals in multiple regions, making the management of Serious Injuries and Fatalities (SIFs) particularly challenging. The company needed a comprehensive approach to reducing SIF and potentially Serious Injuries and Fatalities (pSIF) events across varied industries and geographies.

Solution

To address these challenges, Heico implemented the Benchmark pSIF AI Advisor, a tool developed by Benchmark Digital Partners and Bowers Management Analytics. This tool uses Machine Learning and advanced data analysis to identify potentially Serious Injuries and Fatalities (pSIFs). The AI Advisor was implemented through a one-time data analysis of 20,000 data points between 2018 and 2020, identifying 699 pSIFs with 95% accuracy. These findings were incorporated into Heico's firm-wide plan for continuous improvement in dealing with the root causes of pSIFs. The AI Advisor provides a holistic, firm-wide approach to tracking, identifying, and minimizing pSIFs through standardized data analysis. This allows for more actionable insights compared with traditional methods.

Impact #1	The AI Advisor identified 699 potentially Serious Injuries and Fatalities (pSIFs) with 95% accuracy.
Impact #2	The company was able to incorporate these findings into its firm-wide plan for continuous improvement in dealing with the root causes of pSIFs.
Impact #3	The AI Advisor provided a holistic, firm-wide approach to tracking, identifying, and minimizing pSIFs through standardized data analysis.

Impact #1

The AI Advisor identified 699 potentially Serious Injuries and Fatalities (pSIFs) with 95% accuracy.

Impact #2

The company was able to incorporate these findings into its firm-wide plan for continuous improvement in dealing with the root causes of pSIFs.

Impact #3

The AI Advisor provided a holistic, firm-wide approach to tracking, identifying, and minimizing pSIFs through standardized data analysis.

Benefit #1	The AI Advisor identified 699 potentially Serious Injuries and Fatalities (pSIFs) with 95% accuracy.
Benefit #2	The tool was able to identify pSIFs faster and more accurately than manual techniques.

Benefit #1

The AI Advisor identified 699 potentially Serious Injuries and Fatalities (pSIFs) with 95% accuracy.

Benefit #2

The tool was able to identify pSIFs faster and more accurately than manual techniques.

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Overview

Heico Calls on AI to Predict & Prevent Potentially Serious Injuries and Fatalities (pSIFs)

Operational Impact

Quantitative Benefit