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February 25, 2021

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Redefining risk management

Uncertainty is often an unavoidable factor in making decisions when it comes to safety management. 

NIXNEvery company in the world makes safety management decisions on a routine basis. Many of these vital decisions, however, are not made in board rooms, they are made by employees in the field, on the shop floor, and in real time. Companies need a quantitative method for field personnel to make decisions in real time. Without one a company is leaving themselves open to unsustainable outcomes.

For Example: An employee of a company is working in a tight space with an angle grinder, they realise the grinder will not fit with the handle on it. Thus, the employee removes the handle to do the task. The work goes on and there are no issues. Each time there after when the employee is faced with a similar problem, he/she will make a similar decision. Is this right? Is this sustainable? Is this world class safety management? Does removing a handle from an angle grinder effect the risk of using an angle grinder? Does a tool exist that allows employees in the field to run quantitative analysis and make risk informed decisions? – Yes.

NIXN, (Neural Intelligent Xtracting Network) is described as ‘none-typical safety management software’. Built with a four terabyte large data set (and constantly growing) spanning across industries including – manufacturing, construction, energy, healthcare, insurance, ESG funds, and more. NIXN carries many familiar feature sets with one core difference, the system is built on a probabilistic framework allowing users in real time to review actions prior to work, during working, and post work.

Same example, with NIXN Implemented: An employee of a company is working in a tight space with angle grinder, NIXN quantifies the risk of cutting material with an angle grinder: (84) the 84 is the INHERENT risk of angle grinding because of the possible suboptimal outcomes: flying debris, kick back, and tool failure. The employee at this point understand the inherent risk of said activity and can add all mitigation factors that will continue to drive risk and probability of incident down too: (70). NIXN will now allow user to add additional risks (i.e. removing the handle) the new score with using an angle grinder + removing the handle: (95). At this point in time the employee now understands the risk involved with such case, and now NIXN will self-propagate ways to mitigate the new risk including: additional PPE to protect against kickback, making sure even without the handle two hand operation is still used. NIXN will even suggest if there is way to reach the same point at a new angle via some sort of scaffold and or man lift. NIXN creates a framework for the decision maker (employee) to have a more sophisticated understanding of the action, possible risk, and necessary mitigators.

In 2020 NIXN users have seen incident decreases as much as 80% year over year by giving users the ability at all levels of a company to quantify uncertainties and understand how they affect each work activity.

Probabilistic risk and decision analysis is the most (and some say “the only”) rigorous approach to difficult problems involving uncertainty. NIXN does the work for a user in real time, providing a real time analytical model, available on any smart device. This real time analysis is then stored, categorised, tracked, and trended, so companies can take real world scenarios to better build out back end safety management functions and identify true leading indicators.

Click here to find out more about NIXN.

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