Data as a pathway to social value
Government legislation across the world is increasingly developing policy to ensure that investments in major infrastructure projects are delivering social outcomes. The impact on how developments are procured, delivered and evaluated means that to thrive and sustain as a responsible business, organizations must have an informed, strategic approach that delivers for communities.
Recognizing that different communities have different needs and challenges, social value needs to be specific to the projects and communities we work with. For many organizations this means rethinking how social value is being delivered. Crucially, how do we know what social value actions should be prioritized and pursued?
The answer is data.
Organizations looking to optimize impact in the communities in which they operate need to harness the power of data. Good data can elevate social value to a more effective, more transparent, and more impactful place because it increases understanding of local needs, while also enabling organizations to move away from delivering outputs and instead produce more strategic outcomes.
Data can also be used to improve social value practices within an organization so that priorities and targets are being met. At AECOM, we track quantitative data on a digital dashboard to evaluate activity and inform our evolving social value strategy.
We can also analyze our geographic impact, so that our social value activity is distributed equitably across the areas we work. By interrogating this data, we ensure that we deliver outcomes that align with our strategic objectives, our technical and project expertise, our clients’ ambitions, and the needs of our communities.
This data-led approach needs to be incorporated into how we design and deliver cities for the future. By making investment and infrastructure decisions based on the needs of local communities, we provide sustainable, equitable, people-centric solutions, such as:
- Making decisions in improving transport links to boost economic growth by identifying where the areas of low employment are and how they are currently connected to centers of business and industry where the jobs exist
- Planning the location of healthcare centers relative to demand and need across a city
- Analyzing whether areas of low further education attainment have access to a tertiary education institution
- Targeting investment in green spaces at areas with low air quality and poor health and well-being levels
By using data to inform our thinking, we can shift the dial from measuring outputs to achieving impacts. By recognizing the role that data can play to generate positive outcomes, we can deliver infrastructure that increases economic opportunity, improves physical health, and creates sustainable, authentic places for people to thrive.