Our client was developing a new product to help their customers improve their safety standards using innovative technologies. The client was interested in developing a database of safety technology providers with innovative solutions from all around the world. This database in turn will help them identify potential safety technology partners and provide new solutions to their customers.
The client was also interested in understanding their customers’ biggest risk factors. This required a deep analysis of a large range of risk factors that their customers are exposed to such as fall risk, explosion risk, chemical leakages, etc. This data could then be mapped against the available solutions in the database.
The overall project was a big undertaking that required significant time and overhead to execute. The client also needed ongoing analysis support to maintain and update the database. Our client did not want to build an in-house team for this project and was looking for an agile solution to develop this new product.
Ravenry supported the client in two key areas: risk factor analysis and database creation. We provided a quantitative analysis of various risk factors faced by a diverse group of companies. Ravenry looked through 20+ risk factors such as collision risk and fire risk, and provided risk ratings for each of these factors across multiple heavy industries. This risk factor analysis formed the basis of the safety technology database that is designed to consolidate solutions that address these issues.
Ravenry then consolidated a list of more than 400 safety technology providers with cutting-edge safety solutions. These are niche players that leverage technologies such as wearable sensors and human-augmenting exoskeletons to improve workplace safety. Ravenry proceeded to research and include data points such as technology categories, client list, and business traction to accompany the list of providers.
With our network of global analysts, Ravenry was able to provide this research within an expedited timeline. Our client launched their database two months after Ravenry started the research process. The client managed to keep their cost low and avoided an expensive dedicated in-house team to execute on this project. Overall the client saved an estimated 250 hours on the project, and still received a consulting-grade information database that is valuable to their portfolio of global customers.
Days turnaround time
The Ravenry team was quick to absorb all requirements to deliver within a very short turnaround. This agility, combined with their access to a global network of relevant experts, allowed my team to gather input and make decisions on the project significantly faster. Altogether, I would not hesitate to engage Ravenry for any of my research tasks.
~ Manager, Global Consulting Firm