**4. Conclusions**

As our case study shows, there is an opportunity to use data to fill in a gap in the regulatory and social contexts. Capturing the value of data combined with an appropriate architectural framework and use of technology can rapidly help companies overcome a current compliance challenge while at the same time it can produce social returns that pay for previous years of heavy IT investment that has not yet been monetized.

The value proposition of the proposed approach is understanding benefit as a common value not exclusive to the organization, but it also has to distribute value among customers, workers, the community and, why not, to contribute to regenerate our planet based on a new economy.

Companies need to realize that the future is already here. Data-driven companies that have understood the importance of combining quantitative and qualitative models, Alipay, Tencent, Baidu, Huawei, Samsung, Apple, Amazon, Facebook, Google, and Walmart, to name a few, are rapidly grasping profit enhancement and social impact generation opportunities and filling the wide-open gap left by traditional players. Google (and Baidu in China) is used by every person on the planet who is connected to the internet. Facebook has over two billion customers. Baidu, Apple, Tencent, and Samsung's customer bases are close to one billion customers each. These companies have scale and very satisfied customers whom they really understand. They are essentially ready to deal with upcoming challenges which demand rapid adaptation (e.g. need for Regulatory Compliance with little guidelines for companies on how to report, VUCA (Vulnerable Uncertain Complex Ambiguous) environments which lack Supervisory Competence Boards).

We are living through a paradigm change, driven by new rules of competition in terms of both the speed of product development and the speed of obsolescence of products and services. Adopting new technologies and operationalizing the capture of value from data as the core strategic is imperative to maintain competitiveness. Digital transformation investments without focus on social impact returns has a very low success rate.

In this article, we have emphasized the need for an integrated, systematic approach, incorporating continuous improvement and constant feedback. The framework we propose is firmly based on empirical evidence, including both quantitative data and qualitative experience. As the PoC demonstrates. Implementing the framework can result from individual to country-wide contributions and improve sustainable development goals.

The framework described is in line with global reporting standards and at the same time, flexible enough to be tailored to each business's specific context, and if necessary, it can be implemented progressively, modulating the adoption rate. The higher the adoption rate, the more rapid profit enhancement and social impact returns. Crucially, though, customized solutions generally start delivering transformation in as little as three months.

As per the contribution of this research to sustainability, we have covered the applicability of modeling to non-financial risks management, and particularly in the field of sustainable finance. Conclusions point out that duality is the solution to capture the essential value of data and have an impact on planet, people and profits, which are associated to the three main pillars of Sustainability: Environment, Social and Governance (ESG).

Developing a framework is the first step towards systematization that can help businesses to generate value and impact in a recurrent way. Our framework is built under a pragmatic, universal and adaptable philosophy, which demands completion and commitment from the adopters' side. One of the main contributions of

*Social Impact Returns. Filling the Finance Gap with Data Value DOI: http://dx.doi.org/10.5772/intechopen.97407*

this model is that when companies are often asked what is the impact of their social investments, a silence is met. Next time, it is hoped that our solution represents a starting point that can be enhanced in a collaborative way, fostering open innovation and preempting any efforts to reinvent the wheel.

Capture of the essential data value, beyond data analytics, to generate returns and profit enhancement is the basis of all our work, which enables convergence between people, technology and value creation. One of the main limitations we faced is the volatility of data and its reliability and relevance. Most Large Corps., in order to comply with the EU Directive on non-Financial Reporting, have developed their own solutions. The problem is that lack of alignment and comparability of KPIs result in inefficiency of results when attempting to measure progress and achievement of targets. At this stage there is an urgent call to action to adopt standards that allow companies to co-pete (Collaborate and Compete), helping each other to improve and learn. Unless a shared strategy, goals and metrics are in place, actions will lead to sub-optimal results.

Finally, technology as a facilitator, plays a key role when it comes to the capture and exploitation of data value. In the las three years, investment in Digital Transformation accounts for \$1 Trillón but only 12% of companies obtained a return. Decoupling Data Value capture from Digital Transformation is imperative. Companies need to understand which metrics are relevant and can generate an impact and then, adopt a data driven strategy. This framework is aimed to enable companies differentiate such aspects and start putting the right pieces together to capitalize the data value opportunity.

#### **Acknowledgements**

Universidad Politécnica de Madrid (UPM). Instituto de Empresa (IE Business School). Essex Lake Group (ESSEX). Alastria. WStartup Community. Kunfud. ClimateTrade. MujeresTech. SWN

## **Notes/thanks/other declarations**

Thanks in an unprecedented year! Specially to my family and people that have provided support and advice at all times.

#### **Nomenclature**


