Report: 50% of leaders say their data should contribute to ESG initiatives

Pushed by the convergence of adjusting financial circumstances, data and AI, companies in the present day face a whirlwind of recent pressures within the wake of the global pandemic — every thing from rising buyer calls for and a expertise scarcity, to, most notably, a workforce not empowered by revenue however by objective.

Not solely is the workforce now deeply purpose-driven, however they largely demand a brand new method to management: one which blends human traits, like empathy, with a data-driven mindset. Workers in any respect ranges imagine that doing good pairs with driving revenue — each decision-makers and information employees agree that not less than 50% of the information their firm makes use of on a day-to-day foundation ought to be targeted on doing good for the communities it serves, in accordance with a brand new report by Cloudera.

In consequence, leaders are performing, with 26% of enterprise decision-makers rising funding in environmental, social and governance (ESG) forward of growing new merchandise/companies (24%) or accelerating monetary progress (21%). This pattern signifies that revenue and ESG are not mutually unique pursuits.

Utilizing massive knowledge and AI to make extra sustainable enterprise choices might be a vital side of competitiveness as companies look to beat modern-day pressures. Companies that want to prevail must redefine success past revenue alone and improve concentrate on creating actual environmental influence. Those who fail to behave for social good will inevitably put their enterprise progress and skill to draw expertise in danger.

The good information is that advances in know-how can present options to those challenges, whereas additionally serving to to attain conventional enterprise targets. For leaders and executives, this implies it’s time to refocus on technology investment — figuring out not solely the information that may assist progress, but additionally assist workers acquire significant entry to it.

For its report, Cloudera surveyed 2,213 enterprise enterprise decision-makers — together with 54% C-suite illustration — and 10,880 information employees within the U.S., EMEA, India and APAC. The examine reveals that firms who’re able to speed up their know-how technique now, whereas supporting funding in ESG, can have a major benefit over their rivals in the long run.

Learn the full report by Cloudera.