Research shows data collaboration is fundamental to tackle humanitarian challenges
Lenovo has announced the results of the Data for Humanity report , which cites a collaborative approach to data as fundamental to improving global stability and security .
The research indicates that companies successfully using data across several business areas are more likely than others to be taking action against humanitarian challenges . This same group , dubbed Data Leaders , are already benefitting financially too , with over three-quarters ( 78 %) having increased their revenues over the past 12 months , compared to only half ( 50 %) of those not fully harnessing their data .
With an expectation to increase their revenues by 50 %, the study also finds that companies will invest an average of US $ 3million in data technology and initiatives over the next 12 months . But while profit is undoubtedly important in these turbulent times , purpose is equally front of mind for business leaders .
Pioneering data for good
In the study , data is regarded as a solution for helping companies address humanitarian challenges while improving financial stability , with a quarter ( 26 %) of respondents indicating they want to do more with their data to benefit humanity .
The results indicate that the energy crisis is regarded as the biggest threat over the next three years , with nearly three-quarters ( 71 %) of executives expecting it to have a moderate to severe impact on their business . This is followed by the threats of global warming ( 59 %), poor healthcare ( 53 %) and income inequality ( 52 %).
However , only two-fifths ( 40 %) of respondents indicated their company is taking steps in the next three years to tackle the energy crisis , falling lower for global warming ( 33 %), poor healthcare ( 22 %) and income equality ( 18 %).
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