Big data is so 2015. Everyone knows companies can become paralyzed by that volume of energy and sustainability data they produce. In fact, one organization alone can generate millions of data points per year. The number and variety of metrics tracked and reported has also skyrocketed. According to research firm Verdantix, organizations have adopted more than 2,500 unique metrics for use in sustainability reports. The importance of selecting consistent, relevant and measurable performance indicators is paramount.
Challenge: More than 70% of companies across the globe still use spreadsheets to track data used in reporting, according to a 2012 survey by Oracle and Accenture. And that has led to reporting errors — a University of Hawaii study found that as many as 88 percent of spreadsheets contain inaccuracies. Many organizations are still suffering from the glut of data and haven’t yet created a centralized database that ensures precision and visibility.
Solution: Technology is emerging that seamlessly integrates information systems together, making data visible and actionable.
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