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Organizational theorist and creator Geoffrey Moore said, “Without big data, you are blind and deaf and in the middle of the highway.” The point is well made. If you do not use data, you limit your ability to make decisions. Combined with economic inefficiency, this may increasingly result in an environmentally unfriendly enterprise.
If your organization is struggling to remain sustainable as an organization, data is the solution that will not mislead you. Here are some of the most vital the reason why data-driven decision-making can make it easier to adopt the right business solutions that may help your organization maintain its positive impact and accompanying brand image for the foreseeable future.
1. Use data to optimize resources
We live in a world with increasingly limited resources. Overuse, unequal distribution, and outright scarcity make it difficult to acquire the resources required to supply products and services at reasonable costs. In the context of sustainable development, the clever use of resources becomes much more necessary. Wasted resources signal an unacceptable and inexcusable waste of finite resources.
Data can help corporations optimize resources at every step. Keychain’s consumer packaged goods (CPG) manufacturing platform is a good example of this. The world’s first comprehensive CPG manufacturing database helps some of the world’s largest brands and retailers align with proven and (*3*)solid producers.
The purpose of this manufacturing resource is to facilitate transparency for each brands and manufacturers. For example, a brand or retailer looking for a manufacturer for its product may struggle to align with sustainable practices, often as a consequence of a lack of visibility into material sourcing and environmental impact. This resource goals to remove barriers in the packaging selection process by providing clear and accessible information on eco-friendly options, enabling brands to make more informed and sustainable selections.
Data helps streamline and optimize resource allocation. This can occur on an industry-wide scale. You can also apply the same concept on an internal level. In each cases, the goal is to make use of data to accurately invest resources in the best products on the first try.
2. Use data to attenuate losses
Optimal resource utilization is an necessary production behavior that results in more environmentally friendly operation. On the contrary, there is the more passive (though still very influential) issue of operational waste.
“Waste” can have many meanings in a business context. On the one hand, there is the general concept of “organizational waste”. For example, you could have excess office space, most of which is empty as a consequence of distant or hybrid work. In this case, heating, cooling and otherwise maintaining such rooms is wasteful.
On the other hand, waste can even be literally waste. Waste. How you manage trash and other waste as a business can directly impact your sustainability, and data can help. Waste tracking and reporting can help businesses maintain sustainable waste management practices.
By tracking and reporting the way you manage waste, you can minimize your impact on landfills and reduce the burden on your local waste management system. You can also reduce business costs, maintain compliance and improve your brand image. This form of evaluation can even make it easier to make more informed decisions when allocating resources. This results in long-term savings and provides a competitive advantage.
How can you apply this? Review the data you have on how it really works. Start with waste management. Then back up and review every part from administration to office space to warehouse management. Look for places where you can reduce waste and improve efficiency through pre-existing activities.
3. Use data to extend supply chain efficiency
In the first part, we discussed improving resource allocation. In the second part, we analyzed internal activities and identified areas requiring improvement. This last step challenges you to look outward. You can have an impact on the environment outside the 4 partitions of your organization – and it’s greater than just an environmental charity. Striving to drive positive, sustainable change in supply chains can have a profound and positive impact on the Earth and your individual business.
Data analytics company Oracle is taking note of this sustainability of the supply chain it can come from improving transportation and logistics, increasing transparency and educating others – all of which require data. He adds that measuring and reporting environmental performance helps establish appropriate indicators and benchmarks.
If you desire to improve your organization’s sustainability, it is advisable to look beyond your individual company. Use data to set the right supply chain metrics, track activity, improve transparency and collaborate with partner brands to work together towards greater sustainability.
Building an ecologically responsible business model
Sustainable development is a key element of the success of recent enterprises. However, it is difficult to find learn how to achieve sustainability without data.
By tracking the right information, establishing comprehensible metrics, and measuring your business activities against the right benchmarks, you can build an environmentally responsible business that advantages the earth, your care, and your bottom line, all at the same time.