The Single Biggest Mistake With BIG DATA in Workers’ Comp

 

Hey, there, Michael Stack here, CEO of Amaxx and founder of Amaxx Workers’ Comp Training Center.

Today is an exciting day in the Stack household. It’s back to school day. We have four children, a daughter going into second grade, a son going into first, another daughter in pre-K and a youngest son in first year of preschool. Everyone is excited, we did the first day of school pictures and the whole nine yards and they got on the bus just this morning.

Proper Sequence Is Critically Important

What if I told you that our seven-year-old daughter, instead of putting her into second grade, we actually enrolled her in Kennebunk High School? The odds of her being successful in that environment are basically very slim, if not, impossible. It’s not that the information taught at the high school level isn’t critical to her educational journey which hopefully then leads on to a successful life and career. It just that it’s taught out of sequence and she needs that foundational knowledge taught at the elementary level to be able to properly use and utilize that information.

Biggest Mistake Companies Make with BIG DATA

Now, I want to talk to you about a topic in worker’s compensation which is very popular: big data and analytics. I see a lot of companies making that same mistake. It’s not that the information or the tool of leveraging big data and analytics isn’t critical to your journey to a best in class work comp management program. It’s just that it’s typically implemented out of sequence and most companies don’t have those foundational, fundamental, necessary elements in order to be able to properly use and utilize the information both inputted into that big data tool and extracted from that tool. If you don’t know how you are measuring success, if you have no clear goals in your organization and a way to understand if you’re being successful or not and you’re spending all your time and resources researching and implementing this tool, then you’re out of sequence and I encourage you to go back and look at some of those fundamental elements in order to be able to properly use and utilize that extremely valuable tool.

Again, I’m Michael Stack with Amaxx and your work in workers’ compensation cannot only dramatically reduce your workers’ compensation cost but it will dramatically impact someone’s life. Be great.

To Learn more, check out The Step by Step Process to Master Workers’ Comp in 90 Days

Author Michael Stack, CEO Amaxx LLC. He is an expert in workers compensation cost containment systems and helps employers reduce their work comp costs by 20% to 50%. He works as a consultant to large and mid-market clients, is co-author of Your Ultimate Guide To Mastering Workers Comp Costs, a comprehensive step-by-step manual of cost containment strategies based on hands-on field experience, and is founder & lead trainer of Amaxx Workers’ Comp Training Center.

Contact: mstack@reduceyourworkerscomp.com.

Workers’ Comp Roundup Blog: https://blog.reduceyourworkerscomp.com/

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