At the heart of sustainable business development lies a data- and analytics platform designed to provide your company with tools adapted to your specific industry. System and industry changes don’t come easily, so collaboration to meet the challenge of insufficient data regarding sustainability will help you achieve real change towards the net-zero plans committed in your industry. By harnessing the power of generative AI and pioneering research in data collection and synthetic data, you can aim to enhance the accuracy and applicability of sustainability data. Such initiatives not only align with industry-specific goals but also drive the setting of a new standard in making data-driven decisions for a sustainable future.
In today’s rapidly evolving world, the importance of sustainable business practices cannot be overstated. You might, as I have, come to the conclusion that one major key to impactful sustainability initiatives lies in the accuracy and reliability of the data that guides them. Therefore, I and the people at Ecometrix have engaged in building a platform designed to empower companies to not only report but also analyze their sustainability data in alignment with industry-specific goals and benchmarks from peers. The goal is to cater to companies and partners who are keen to make data-driven decisions in their sustainability journeys, with a focus on enhancing their performance in line with industry standards
The journey toward sustainability is complex and requires a nuanced understanding of various Key Performance Indicators (KPIs) across different industry sectors. This is where the precision of data becomes crucial. This journey has taken us to the forefront of developing innovative tools and analytical models to track and analyze the true progress of sustainability by using industry-specific KPIs.
To be able to create more accurate and comprehensive datasets for a platform, we are engaged in pioneering experimentation in three key areas. Some that you might also want to look into for your business or industry
1. Enhancing Product Data through Generative AI
One first experiment, more affordable than you might think, involves leveraging the capabilities of generative AI to improve product data. There is a lot of exploration going on regarding how agent-based Large Language Models (LLMs) can be utilized to augment existing product data in Environmental Product Declarations (EPDs), with the goal of validating them as a reliable data source for benchmarks. This initiative aims at enriching the depth and breadth of product information, making it a more potent tool for sustainability analysis
2. Identifying and Collecting Vital Product Data
The second area of research focuses on employing agents based on LLMs to sift through and collect essential product data embedded within the unstructured data of EPDs. This approach streamlines the data collection process, ensuring that vital information is captured efficiently and accurately, thereby enhancing the overall quality of our data models. We have conducted tests with data from both Swedish/Nordic and US industry EPDs. There is much to be learned, and doing this helps you discover new knowledge that you did not know you didn’t know, so to speak.
3. Exploration of Synthetic Data
Lastly, you probably should investigate the potential benefits of synthetic data in generating sufficiently large datasets efficiently. Identifying areas where synthetic data could be instrumental will allow us to overcome limitations related to data scarcity and enhance our analytical capabilities, ensuring robustness and scalability of our data models
Endeavors in these areas can accelerate the transition towards data-driven decision-making in sustainability efforts. By enhancing the quality and accessibility of relevant data, you can empower other companies in your industry. Everybody in your ecosystem is helped by identifying where their investments and process changes can have the most significant impact on achieving their sustainability objectives. So, striving to make small steps in data exploration and then showing the results to other actors in your ecosystem starts a small but much-needed start to your transition. New collaborations will emerge as you move forward
I, and Ecometrix, believe in the power of collaboration and are eager to forge partnerships with like-minded entities who share our commitment to sustainability. We invite potential customers and partners to join us on this exciting journey towards creating a more sustainable future. Together, we can leverage the power of accurate and actionable data to make informed decisions that drive real change.
Reach out to us, and let’s explore how we can work together to achieve our shared sustainability goals.
