- Author: Joacim Vestvik-Lunde
- Keywords: Business Assurance
Today’s organizations are facing a complex business environment. With increasing demands from stakeholders to operate sustainably, and with international standards being revised to encompass a more holistic view of the business context and related risks, organizations need to adapt and work smarter. Better utilization of own data, as well as insights derived from industry Big Data to make qualified decisions on improvements, will be critical for companies to succeed in the future.
Through a recent survey conducted by DNV GL, 52% of the 1189 respondents identified Big Data analysis as a major opportunity and 70% of the large corporations. However, 3 out of 4 were not able to capitalize on their data to improve productivity.
To assist companies in getting more out of their management systems, DNV GL is launching Lumina, a set of performance benchmarking tools giving organizations unique market-based insights and support to identify and prioritize improvement areas. Whether addressing environmental, quality or safety aspects, Lumina allows companies to identify their weak spots and where to invest time and resources to close the gaps.
Luca Crisciotti, CEO of DNV GL – Business Assurance comments “Most companies have a great potential to better use data to improve, compete and innovate. A management system is an excellent tool for handling business processes, but it also creates a lot of useful data about an organization’s performance – insight which is often overlooked. Lumina enables companies to more effectively analyze this information to gain insight that can support them in making more qualified decisions.”
Through more than 1.6 million audit findings accumulated from 80.000 customers, the analytics platform does not only provide a performance analysis of a company’s management system, but also a performance benchmark against industry peers. Combined, it provides a holistic overview allowing companies to identify the areas of their management system that need to be improved.
Lumina at a glance:
Top five quality management system failures according to 300,000 audit findings:
- Planning of the production or service.
- Internal training and competence.
- Ensuring adequate infrastructure for production.
- Internal verification of the management systems effectiveness.
- Corrective actions to eliminate non-conformities.