Use of Data & Sustainability Value
In this age of technology-driven transformation, both humans and machines generate data every second. Despite the fact that data is vital for success in the digital age, most organizations fail to translate it into action. Organizations are struggling to create a data-driven environment, and as a result, they are missing out on data's actual potential.
With the exponential growth of data, the same methods used to manage it have resulted in data silos, which can obstruct information sharing and collaboration across departments while also forcing IT to spend too much time managing data infrastructure.
However, businesses have to take control of their data. Companies that have a consolidated view of their data, which is received from multiple sources throughout the firm, can respond more quickly and handle business issues. As a result, they will be able to provide a better client experience while generating revenue.
We can discuss four approaches to simplify data management and removing data silos in businesses:
Make data-driven culture a reality for everyone: All consumers, stakeholders, partners, and workers must embrace a culture of lifelong learning, information sharing, and open communication.
Improve visibility: Data silos obstruct the vision of the data. By gaining visibility, IT teams will be able to focus on data-driven decision-making, which is crucial to a company's financial health.
Create a system to centralize data from multiple sources: Streamline data into a single source, freeing up storage space and relieving IT of additional storage costs. On a single data platform, teams can interact in real time.
Centralize data access with a data governance framework: Data availability, accessibility, transparency and security can all benefit from a data governance system. This can result in increased report accuracy and consistency, improved decision-making, and fewer data duplications and manual data entry processes.
Let's now see how data management and sustainability work together.
Sustainability is a great approach for companies to reduce operating expenses and isolate themselves from resource shortages and price shocks. It is not only excellent for your company's image and conscience; it is also good for your profits.
Companies can get the insights they need to guide their initiatives towards a more sustainable and profitable horizon. Overall resource efficiency can be improved by collecting and analyzing data on a wide range of sustainability-related factors, such as energy and resource use, greenhouse gas emissions, and supply chain performance.
What to do now?
Understand the present. The tools and methodologies for studying sustainability have come a long way. Maybe it's time to ask yourself these questions: Can your current systems generate real-time (or near-real-time) insights? Are they fully automated and linked to performance dashboards? Do you have a system to govern and manage sustainability data? Consider data such as personnel, hours of operation, production levels and sales volume, time, and resources. Model future sustainability scenarios to better understand the complex interplay of economic, social, and environmental elements that influence your sustainability plans and performance.
Turn information into action. The results are useless if they are not implemented correctly. Raise awareness and train your staff and those who work with you, as the business environment is constantly evolving and your sustainability strategies must adapt to keep up.
Prepare a sustainability analysis. As we have said before, it is essential to evaluate the costs, effects, and success of past and current sustainability initiatives, in order to anticipate future conditions and requirements. This helps to understand the flaws, improve and prepare for the next even more sustainable step.
During these steps, you will not be alone. Trilleco is here to help and support you. Our companies can perform real-time sustainability research on huge amounts of data in three-time dimensions: past, present, and future. In this way it is possible to anticipate future changes in supply, demand, and prices, making the company one step ahead of the competition.
With advanced sustainability analysis, a company can demonstrate to potential business partners and customers that the company's sustainability initiatives are more than just words.
Queue up to those who see the future already from the palm of their hand.