How can businesses use data to inform their social and environmental impact strategies?
Alejandro Penzini Answered question November 3, 2023
- Identify and measure their social and environmental impact:Businesses can use data to identify and measure their social and environmental impact across their entire value chain, from raw material extraction to product disposal. This information can be used to set goals for reducing their impact and to track their progress over time. For example, a company might use data to track its greenhouse gas emissions, water consumption, and waste production.
- Understand the needs of their stakeholders: Businesses can use data to understand the needs of their stakeholders, such as employees, customers, and communities. This information can be used to develop social and environmental impact strategies that address those needs. For example, a company might use data to identify the most pressing environmental concerns in the communities where it operates, and then develop initiatives to address those concerns.
- Assess the impact of their social and environmental initiatives:Businesses can use data to assess the impact of their social and environmental initiatives. This information can be used to improve the effectiveness of those initiatives and to communicate the results to stakeholders. For example, a company might use data to track the number of jobs created by its social impact programs, or the reduction in greenhouse gas emissions achieved by its environmental initiatives.
Alejandro Penzini Answered question November 3, 2023
Unlock Peak Performance for Your Snowflake® Data Cloud
Maximize the potential of your Snowflake Account with Snoptimizer® – the ultimate solution for automated cost, performance, and security optimization.