Impact Measurement
Impact measurement is the process of quantifying and evaluating the social and environmental impact of a program, intervention, or organization. In this complete guide, we'll explore what impact measurement is, the various approaches and tools available, and the challenges and considerations involved in the process.
- Strategy
- Data Collection
- Survey
- Configure
- Charts
- Dashboard
- Communication
All-in-one Logic Model, Data, and Dashboard Strategy
With our AI-driven Impact Strategy, you can leverage our extensive library of hundreds of industry templates to personalize and tailor them to meet your organization's needs. Whether you're building SMART metrics for mission-driven purposes or aligning with IRIS metrics for investor reporting, our strategy is just the beginning. The real value of our approach lies in our ability to guide you towards the best data collection strategy and dashboard plan to impress and engage funders, even before data collection begins.
Data Collection
As your organization grows, you may find that different fund or program managers collect impact data in various systems. However, there's no need to worry. Our Impact Cloud platform is an advanced and user-friendly solution that allows you to collect data from multiple sources such as Google Spreadsheets, MS Excel, Sopact surveys, other survey platforms, or even Salesforce. Collect your data, which will show up in Impact Cloud in real-time, where you can easily aggregate common, program-specific, and company or project-specific indicators.
Business Intelligence Integrated Survey
Our business intelligence platform, Impact Cloud, offers advanced real-time connectivity and ease of surveying. You can collect data through various methods such as offline and online modes, SMS, WhatsApp, longitudinal tracking, and scheduled campaigns. Additionally, our platform enables data simulation and generates automated reports.
Advanced Configurations
With our platform, you can quickly and easily connect your data sources within minutes. Configure your sync settings to update manually, every 5 minutes, or daily. Before refreshing your dashboard, you can clean up and transform your data to ensure it's accurate and actionable.
Our platform supports integration with the most popular data sources, including Sopact survey, Google Spreadsheet, MS Excel, and Salesforce. With our user-friendly solution, you can seamlessly connect and manage your data from a single platform.
Custom Charts
Data visualization and analysis platform that provides its users with a wide range of chart capabilities. Some chart types can be created using hundreds of chart possibilities, such as bar charts, line charts, scatter plots, area charts, heat maps, pie charts, and more.
Users can customize these charts by selecting different types, colors, fonts, and design elements. They can also add filters, groupings, and drill-down functionality to create interactive dashboards.
Dashboard
Our platform allows you to build unlimited charts without worrying about costs per dashboard or user. With hundreds of chart options and real-time data from various sources, every team can tell its story to donors.
Our easy-to-use tools save hundreds of hours on manual data analysis and report generation. You can efficiently access and visualize data from various sources, making it easier to derive insights and make data-driven decisions.
Our scalable platform can grow with your organization and accommodate increasing data. Our platform provides a powerful tool for organizations to streamline their data analysis and reporting processes, enabling effective communication with donors and data-driven decision-making.
Impact Communication
Our platform enables effective data communication within your organization, allowing you to share progress and outcomes with boards, staff, and funders to build trust.
With our easy-to-use tools, you can create visualizations and dashboards highlighting important metrics, keeping everyone informed and engaged toward your organization's goals.
Sharing key outcomes with funders helps demonstrate the impact of your work and strengthen relationships. Our platform provides a powerful tool for data-driven decision-making and building stakeholder trust.
- Education
- DEI in Community
- DEI in Corporation
- Housing
- More Examples
Measuring Education Success
The following example is just one of many pre-existing solutions available. More solutions can be found in the Impact Strategy App.
Problem Statement: There need to be more educational resources for entrepreneurship in a community where resources are scarce. Entrepreneurship is common, leading to a need for more support for individuals interested in starting their businesses.
Key Stakeholders:
- Individuals interested in starting their businesses
- Local business associations
- Community leaders
Intervention: Developing educational resources for entrepreneurship
Activities:
- Conduct a needs assessment of the community to determine the specific needs of individuals interested in entrepreneurship
- Develop entrepreneurship curricula tailored to the community's needs
- Host workshops and training on entrepreneurship for community members
- Partner with local business associations to provide mentorship opportunities for aspiring entrepreneurs
- Create a resource center for entrepreneurship that is accessible to the community
Learning Goal/Outcome: Increased knowledge and skills in entrepreneurship among community members
SDG Indicator ID: 8.3.1
Key Impact Themes:
- Education and Training
- Economic Growth and Decent Work
- Partnerships for the Goals
Measuring DEI in the community
Problem Statement: Racism and lack of inclusivity in education systems contribute to disparities in educational outcomes and opportunities for students of color and other marginalized groups. These disparities are perpetuated by biases and practices within schools and classrooms that fail to acknowledge and address how racism and other forms of oppression impact students and educators.
Key stakeholders:
Students of color, other marginalized groups, educators, schools, and policymakers.
Intervention:
Implement anti-racism and anti-oppression policies and practices within schools and classrooms to address disparities in educational outcomes and opportunities.
Activities:
- Provide anti-racism and anti-oppression training for educators to increase awareness and understanding of how racism and other forms of oppression impact students and educators. Output: Educators have increased awareness and understanding of how racism and other forms of oppression impact students and educators.
- Develop and implement anti-racism and anti-oppression policies and practices within schools and classrooms. Output: Schools and classrooms have implemented anti-racism and anti-oppression policies and practices.
- Increase diversity and representation in curriculum, textbooks, and other educational materials to promote inclusivity and diversity. Output: Curriculum, textbooks, and other educational materials reflect inclusivity and diversity.
Learning goal or outcome: Students of color and marginalized groups will have equal educational opportunities and outcomes as their non-marginalized peers.
SDG Indicator ID: 4.5.1
Key impact themes: Equality, Inclusivity, Diversity
Measuring DEI - Equal Opportunity in Workplace
Problem Statement: Ensuring fair treatment and equal opportunities for people of color in the workplace.
Key Stakeholders: Employees of color, employers, and human resource managers.
Intervention: Developing and implementing diversity, equity, and inclusion policies and programs.
Activities:
- Conducting a baseline assessment of the current state of diversity, equity, and inclusion in the workplace.
- Providing diversity and inclusion training to all employees.
- Establishing employee resource groups for people of color.
- Creating a diversity, equity, and inclusion task force.
- Reviewing and revising hiring practices to promote diversity and eliminate bias.
- Tracking and reporting progress on diversity and inclusion goals.
Learning Goal or Outcome: Improved representation, retention, and career advancement of people of color in the workplace.
SDG Indicator ID: 8.8.1
Key Impact Themes: Diversity and Inclusion, Social Justice, Economic Empowerment
Impact Measurement - Housing Resident Stability
Problem Statement: Residential stability leads to challenges in maintaining a consistent living environment and potential negative impacts on individuals and families.
Key Stakeholders: Individuals and families experiencing housing instability, community organizations providing housing and support services, government agencies responsible for housing policy.
Intervention: Developing and implementing programs and policies that increase housing stability.
Activities:
- Providing financial assistance for housing and rental subsidies.
- Developing affordable housing units.
- Providing case management and supportive services to address underlying issues contributing to housing instability.
- Offering tenant education and rights training.
- Promoting policies that increase tenant protections and prevent eviction.
- Researching to understand the root causes of housing instability and its impacts on individuals and communities.
Learning Goal or Outcome: Increased residential stability and improved well-being for individuals and families.
SDG Indicator ID: 11.1.1
Key Impact Themes: Housing Stability, Poverty Reduction, Social Justice
Review the following pages for more examples
Most groups have a bunch of information written down on paper or saved on computers using programs like MS Excel or Google Spreadsheets. There are also more advanced platforms like Salesforce, case management, and special software called SAAS that help manage data. As described below, it's essential to put all this information together and ensure it's accurate to understand how well things are going and see if we're making a difference. But, many organizations need the right skills or tools to do this well. Impact Cloud helps make sure that we're using data the right way and can keep track of how we're doing. However, it also takes much know-how to use data to make good decisions, and most groups need someone who knows how to do that. Impact Cloud can help with this too. Let's learn more about data types and tools and why it's hard for most organizations to combine data. It is worth mentioning that, with the progress of artificial intelligence and the acquisition of extensive knowledge, our Sopact Strategy App, along with our expertise, enables us to provide a highly effective end-to-end strategy.
Activity and Output Data
Anyone serious about impact measurement should understand five kinds of data: activity, output, outcome, stakeholder, and external data. To understand, let's take a nonprofit focusing on "Access to quality education." They have a strategic goal to improve equitable access to education and to learn through impact measurement. In this example, activity data would refer to data collected during the implementation of programs or interventions designed to achieve this goal. This might include information such as the number of students participating in a tutoring program, the number of schools implementing a new curriculum, or the number of teacher training.
Output data, on the other hand, refers to the data collected to measure the results of these programs and interventions. This might include metrics such as the number of students who pass a standardized test, the percentage of students who graduate from high school, or the number of students who pursue higher education.
To effectively track progress with activity and output metrics, it would be essential to define what specific activities and outcomes the organization is trying to measure. For example, this might include providing additional instructional support to students, implementing a new curriculum, or training teachers. And outcomes include increasing students' test scores, graduation rates, and enrollment in higher education institutions.
Once these activities and outcomes have been defined, it would be essential to develop a plan to collect data on them, such as creating a system for tracking student participation in tutoring programs, administering standardized tests to students, or gathering graduation rates.
Additionally, these data should be collected regularly and analyzed to track progress toward the goal of "Improving equitable access to education and learning for all" and make any necessary adjustments to the program or interventions.
It is also worth noting that it's essential to conduct a comprehensive analysis of data to understand the overall effectiveness of the program or interventions, looking at equity dimensions, socioeconomic status, and other demographic data to ensure that the impact of the programs is being felt by all the intended target group of students and not just specific subgroups.
Outcome Data: Stakeholder survey
One approach would be to analyze outcome data to understand the outcomes of a program or intervention aimed at improving equitable access to education and learning. Outcome data refers to the data that is collected to measure the results or impact of a program or intervention. For the example provided, this might include metrics such as students' test scores, graduation rates, and enrollment in higher education institutions.
To collect this data, it would be essential to have a plan for tracking and measuring these outcomes over time. For example, you might administer a standardized test to students before and after the implementation of a tutoring program to see if their scores improve or track graduation rates for a group of students who participated in a mentorship program.
It's also important to regularly analyze this data over time and compare it with the baseline data to understand how effective the program or interventions is in achieving the goal of "Improving equitable access to education and learning for all."
In addition to analyzing outcome data, it would also be valuable to gather feedback on the program or intervention from stakeholders affected by it, such as students, teachers, parents, and community members. This can be done through stakeholder surveys. Stakeholder surveys are a tool that can be used to gather feedback on a program or intervention from people who are affected by it. For example, these surveys can be used to collect information on the program's perceived effectiveness, the impact on student learning, and the overall satisfaction of stakeholders with the program.
For example, you might survey students to gather information on how the tutoring program has impacted their academic performance and ask parents about their satisfaction with the program or ask teachers about the support received during the implementation of the new curriculum.
It's essential to have a well-designed survey with clear and measurable questions, which will allow you to collect specific and relevant data that can be used to evaluate the program's impact on the stakeholders. Also, it's essential to have the plan to look over the data collected and take the necessary actions based on the feedback received.
By analyzing both outcome data and stakeholder feedback, you can gain a more comprehensive understanding of the effectiveness of the program or intervention and make any necessary adjustments to ensure that it is achieving its goal of improving equitable access to education and learning for all.
External Data Sources Integration
External data can be integrated to help understand progress and challenges in improving equitable access to education and learning for all by comparing data on student performance within your school district, state, and nation.
For example, if your school district is working to improve student test scores, you could gather data on test scores for students in your community and compare it to data on test scores for students in your state and nation. This can help you understand how your district's test scores compare to the rest of the state and country and whether or not your community is making progress toward improving student performance.
To understand the progress and challenges for those groups, you can also look at the data by different subgroups of students, such as by race, socioeconomic status, and language spoken at home.
Additionally, you could look at external data on school funding and resources to understand the correlation between budget and student performance. For example, suppose your school district's student performance is lower than the state or national average and has less funding per student than other districts. In that case, it may indicate that the lack of resources is a challenge that needs to be addressed.
Another example, you could gather data on graduation rates and enrollment in higher education institutions within your district, state, and nation and comparing them. This can help you understand if your district's students are graduating at rates similar to the rest of the state and country and if they are enrolling in higher education at similar rates. This will also allow you to identify any gaps in student outcomes and target your resources toward addressing those gaps.
By integrating external data on student performance and related factors, you can better understand the progress and challenges your district is facing in improving equitable access to education and learning. You can use this information to inform your decision-making and target resources effectively.
Impact Measurement FAQ
Here are a few frequently asked questions about impact measurement, along with their answers:
What is impact measurement, and why is it important?
Impact measurement assesses the positive and negative effects of an organization or program on the individuals and communities it serves. It is important because it helps organizations understand and communicate the effects of their work and allows them to make data-driven decisions to improve their programs and achieve their mission.What are some common methods of impact measurement?
There are a variety of methods that organizations can use to measure impact, including:
- Surveys and interviews can be used to gather qualitative and quantitative data from the individuals and communities the organization serves.
- Case studies and success stories can provide detailed examples of the positive effects of the organization's work.
- Impact evaluations use experimental or quasi-experimental methods to establish a causal relationship between an organization's activities and its impact.
- Performance indicators are specific, measurable, and verifiable metrics that organizations can use to track progress towards their goals.
How can organizations ensure that their impact measurement is reliable and valid?
To ensure that impact measurement is reliable and valid, organizations should:
- Clearly define their objectives and hypotheses before starting their measurement work
- Use appropriate methods and tools to collect and analyze data
- Be transparent about any limitations or biases in their data
- Use multiple ways to triangulate their findings
- Continuously monitor and evaluate the robustness and applicability of the technique.
How can organizations use impact measurement to improve their programs?
Once organizations have collected and analyzed their impact, they can use this information to make data-driven decisions to improve their programs. For example, they can:- Identify and replicate successful program components
- Adapt and refine programs to better meet the needs of the individuals and communities they serve
- Use impact data to communicate the effectiveness of their programs to stakeholders and funders
How do organizations balance short-term and long-term impacts?
It's important to consider both short-term and long-term impacts when evaluating the effectiveness of a program or organization. Short-term impacts may include immediate results, such as changes in behavior or knowledge, while long-term impacts may include more sustained changes, such as increased income or improved health. To balance these two types of impacts, organizations should establish clear goals and objectives that take both short-term and long-term impacts into account and track progress toward these goals using a combination of short-term and long-term indicators.What is social impact measurement framework?
A social impact measurement framework is a set of guidelines, tools, and techniques that organizations use to measure and understand the impact of their social and sustainability initiatives. These frameworks are designed to help organizations understand the social, environmental and economic effects of their activities and to use this information to make informed decisions and improve their performance.
A social impact measurement framework typically includes the following components:
- Defining impact: Identifying the social and environmental issues that the organization aims to address and defining clear and measurable impact goals.
- Data collection: Collecting data on the inputs, activities, outputs, and outcomes of the organization's initiatives.
- Data analysis: Analyzing the data to understand the organization's initiatives impact and identify areas for improvement.
- Communicating impact: The impact of the organization's initiatives on key stakeholders, such as investors, customers, and the public.
- Using impact data: Using impact data to inform decision-making and to improve the organization's initiatives continuously.
Different frameworks have specific guidelines and tools for data collection, analysis, and presentation. Some popular frameworks include:
- The Global Impact Investing Rating System (GIIRS)
- Social Value International's SV Measurement Framework
- The Impact Management Project (IMP)
- The Sustainability Accounting Standards Board (SASB)
Each framework has its own approach and criteria for evaluating impact, so organizations must choose a framework appropriate for their specific initiatives and goals.
Additionally, it is important to note that measuring social impact is complex and challenging, and the measurement process is ongoing. It should be constantly reviewed and updated to remain relevant and appropriate.
Thousands of organizations have used Sopact's impact measurement framework throughout the world. You can download an actionable impact management guide here.
What are impact measurement methods?
Impact measurement methods are techniques and tools that organizations use to measure and understand the impact of their social and sustainability initiatives. These methods allow organizations to understand their activities' social, environmental, and economic effects and use this information to make informed decisions and improve their performance.
Some of the most common impact measurement methods include:
- Outcome mapping: This method focuses on identifying the specific outcomes an organization aims to achieve and then measuring progress toward these outcomes over time.
- Logic modeling: This method creates a logical framework that outlines the relationship between an organization's inputs, activities, outputs, and outcomes.
- Key performance indicators (KPIs): This method involves identifying specific metrics closely aligned with an organization's impact goals and then tracking progress on these metrics over time.
- Surveys and interviews: These methods involve collecting qualitative data through surveys and interviews with stakeholders such as customers, employees, and community members to understand the impact of an organization's initiatives.
- Social Return on Investment (SROI): This method is a type of financial analysis used to estimate the social and environmental value generated by an organization's initiatives.
- Life Cycle Assessment (LCA): This method is a type of environmental assessment that is used to evaluate the environmental impact of a product or service throughout its entire life cycle.
- Cost-benefit analysis: This method evaluates the financial costs and benefits of a particular initiative or program.
- Experimental and Quasi-Experimental methods rely on data collection and statistical techniques to understand the causal relationship between an intervention or program and its outcomes.
It is important to note that organizations may use different impact measurement methods depending on their specific initiatives and goals. And that each method has its strengths and limitations; it is essential to select the appropriate methods for your organization, and it's necessary to integrate multiple ways to have a complete picture of the impact of your initiatives.
How to measure social impact in quantifiable terms?
Measuring social impact in quantifiable terms can be challenging, as social impact often involves complex and subjective factors that are difficult to measure. However, there are several methods that organizations can use to measure social impact in a quantifiable way:
- Key Performance Indicators (KPIs): Identifying specific metrics closely aligned with an organization's impact goals and then tracking progress on these metrics over time. For example, an organization that aims to improve education outcomes might track the number of students who pass standardized tests, the graduation rate, or the number of students who enroll in higher education.
- Outcome mapping: Identifying the specific outcomes an organization aims to achieve and then measuring progress towards these outcomes over time. For example, an organization that seeks to improve health outcomes might track the number of people who receive medical treatment, the number of people who receive vaccinations, or the number of people who live with a specific health condition.
- Social Return on Investment (SROI): This method is a type of financial analysis used to estimate the social and environmental value generated by an organization's initiatives. It aims to assess the overall social and environmental impact of an organization's activities by monetizing the outcomes in a way that the value of the outcomes can be compared to the costs incurred to achieve them.
- Experimental and Quasi-Experimental methods rely on data collection and statistical techniques to understand the causal relationship between an intervention or program and its outcomes. This method is usually used when evaluating the program or initiative expected to impact the outcomes directly and can be well-defined.
- Impact Pathway/Theory of Change: This method helps organizations understand the causal chain of events that links their activities and inputs to their desired outcomes. This will provide a clear understanding of what is required to achieve the desired outcomes and will aid in identifying the key indicators to measure progress.
It is important to note that measuring social impact in quantifiable terms is only sometimes possible and that these methods should be combined with qualitative methods, such as surveys and interviews, to gain a more comprehensive understanding of the impact of an initiative or program. Additionally, it's important to note that when measuring the impact, it's crucial to consider the ethical and legal aspects of data collection, storage, and analysis, to ensure that the data is handled responsibly and moderately.
What is qualitative measurement?
Qualitative measurement refers to collecting, analyzing, and interpreting data that cannot be quantified or measured using numerical values. Qualitative data is often used to understand complex social phenomena and explore people's attitudes, beliefs, and experiences.
Qualitative Measurement Examples
Some common examples of qualitative measurement methods include:
- Interviews involve asking open-ended questions to gather information from individuals or groups. Interviews can be conducted in person, by phone, or online and can be structured, semi-structured, or unstructured.
- Focus groups involve bringing a group of people together to discuss a particular topic. They can gather information on various issues, such as attitudes, perceptions, and experiences.
- Surveys involve asking a set of questions to a group of people. Surveys can be administered in various ways, such as online, by phone, or by mail. Surveys can also be open-ended or closed-ended.
- Observation involves observing and recording individual or group behaviors, actions, or interactions in a natural setting.
- Content analysis analyzes textual data, such as written documents, transcripts, or audio or video recordings. This method involves identifying patterns, themes, or codes within the data and is often used to understand attitudes, beliefs, and experiences about a specific topic.
These are a few examples of qualitative methods, but there are more. The critical thing to remember is that qualitative methods are used to gain an in-depth understanding of complex social phenomena by collecting information about people's attitudes, beliefs, and experiences. They help to create a more profound account of the subject matter and to gain insight into how people perceive and experience it.
It's important to note that qualitative data is often less reliable and generalizable than quantitative data. Still, it has a different value and can provide impossible insights with quantitative data. Additionally, it's essential to have a well-designed research plan for data collection, analysis, and interpretation that follows ethical principles.
When measuring impact, it's essential to consider using a combination of both qualitative and quantitative measurement methods to gain a more comprehensive understanding of the impact of an initiative or program. By combining data from both sources, organizations can gain a deeper understanding of the complex social phenomena they are trying to impact and make more informed decisions.
Impact Measurement Software
Impact management software is a type of software that organizations can use to track, measure, and report on the social and environmental impact of their operations, products, and services. These systems are designed to help organizations understand and communicate the positive and negative effects they have on society and the planet and identify improvement opportunities.Impact Management System
Impact management systems typically include a set of tools and features to support different aspects of impact management, such as:
- Impact measurement: software that helps organizations quantify and qualify the social and environmental impacts of their activities, often using standardized frameworks and metrics, such as the Global Reporting Initiative (GRI) or the Sustainability Accounting Standards Board (SASB)
- Impact tracking: software that enables organizations to monitor and report on the progress of their impact over time and to identify and analyze trends and patterns
- Impact reporting: software that provides organizations with the ability to communicate and share their impact information with stakeholders, such as investors, customers, and employees
- Impact management platform: a web-based system that hosts a suite of tools and features required for impact management, a centralized system that allows an organization to seamlessly integrate the process of data collection, data analysis, and data reporting.
The software can also be integrated with other systems, such as accounting, project management, and CRM, to provide a complete picture of an organization's impact and streamline data collection and reporting.
In summary, Impact management software is a technology solution to help organizations to manage and measure the environmental, social, and economic impact of their operations by collecting, analyzing, and reporting data; these tools are designed to help organizations be more sustainable, transparent, and accountable.
Impact Reporting Software
Impact reporting software is a type of software that organizations can use to report on the social and environmental impact of their operations, products, and services. This software aims to help organizations understand and communicate the positive and negative effects they have on society and the planet and identify improvement opportunities.
The software typically includes tools and features to support different aspects of impact reporting, such as:
- Data collection: the software facilitates collecting data from various sources, such as internal systems and external surveys, about an organization's activities and their impact.
- Data analysis: the software allows organizations to analyze and extract insights about their impact.
- Data visualization: the software provides organizations with the ability to present their impact information clearly and concisely through charts, graphs, and tables, for stakeholders to understand the data easily.
- Reporting: the software enables organizations to generate reports, such as sustainability reports, CSR reports, and impact reports, that can be shared with stakeholders, such as investors, customers, and employees, according to the standard they follow, like Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), etc.
In addition to providing data and reports, impact reporting software can also be used to track and measure an organization's progress in addressing its impacts over time and identify improvement areas. It may also have a feature that provides access control to stakeholders at different levels to view and share the impact data per their requirements.
Impact Management Software
Impact management software is a type that organizations can use to track, measure, and report on the social and environmental impact of their operations, products, and services. These systems are designed to help organizations understand and communicate the positive and negative effects they have on society and the planet and identify improvement opportunities.
Impact management software typically includes a set of tools and features to support different aspects of impact management, such as:
- Impact measurement: software that helps organizations quantify and qualify their activities' social and environmental impacts, often using standardized frameworks and metrics, such as the Global Reporting Initiative (GRI) or the Sustainability Accounting Standards Board (SASB).
- Impact tracking: software that enables organizations to monitor and report on the progress of their impact over time and to identify and analyze trends and patterns
- Impact reporting: software that provides organizations with the ability to communicate and share their impact information with stakeholders, such as investors, customers, and employees.
- Data management: this software allows organizations to store and manage data and makes it easy to retrieve and analyze when required
- Workflow Management: enables organizations to automate the process of data collection, analysis, and reporting.
The software can also be integrated with other systems, such as accounting, project management, and CRM software, to provide a complete picture of an organization's impact and to streamline data collection and reporting.
Overall, Impact management software provides an organization with an overview of its social and environmental impact and helps it to become more sustainable, transparent, and accountable.
Impact Tracking Software
Impact tracking software is a type of software that organizations can use to monitor and report on the progress of their social and environmental impact over time. This software is designed to help organizations identify trends and patterns in their implications and areas for improvement.
The software typically includes tools and features to support different aspects of impact tracking, such as:
- Data collection: the software facilitates collecting data from various sources, such as internal systems and external surveys, about an organization's activities and their impact.
- Data analysis: the software allows organizations to analyze the data and extract insights about their impact over time.
- Data visualization: the software allows organizations to present their impact information clearly and concisely through charts, graphs, and tables so stakeholders can easily understand the data.
- Benchmarking: the software enables organizations to compare their impact data with industry standards and best practices and identify improvement areas.
- Reporting: the software enables organizations to generate reports that can be shared with stakeholders, such as investors, customers, and employees.
Impact tracking software can also be used to set and track progress towards impact-related goals, such as reducing greenhouse gas emissions or increasing the use of renewable energy. By providing a comprehensive view of an organization's impact over time, the software can help an organization identify areas of success and areas that need improvement and measure progress toward achieving its sustainability goals.