Using Data Analytics to Guide Sustainability Initiatives
The use of analytics can be a powerful tool in guiding an organization’s sustainability efforts. As companies face rapidly changing expectations for sustainability initiatives, they are looking towards business intelligence and data analytics capabilities to strengthen such initiatives.
By applying analytics to reliable sustainability data, leaders may be able to more effectively:
- Identify which of their sustainability decisions, actions and investments are actually achieving their intended goals
- Detect signals of sustainability-related risk or opportunity early, even when those signals are faint or hidden in exploding volumes of data
- Understand the interplay of economic, social and environmental factors associated with the entire value chain of a company’s products and services
However, organizations are finding that efficient and effective management of sustainability information requires careful data stewardship and enterprise-strength solutions to support a variety of information needs, including forecasting, economic evaluations and analysis. At the same time, these companies are discovering that their current applications and information architectures are often inadequate for gathering and analyzing sustainability data.
Click here to read more about some practical tips organizations can consider when driving analytics initiatives.