How can companies better incorporate impact measurement while keeping customer focus? Tom Adams, from Acumen, a not-for-profit organisation that promotes innovative ways to alleviate poverty, provided a solution at a Midday Goes Social seminar at the EIB.
Nearly all impact investors say that they measure and report on the social impact of their investments, he said. But a close look at the impact investing field reveals that the state of practice is far from robust. Acumen has undertaken a series of projects that involve a new approach to impact measurement called Lean DataSM. This new approach also presented in the Stanford Social Innovation Review, reframes data collection and impact measurement in a way that corresponds to a real-world social enterprise context. It helps build more impactful businesses by providing them with data on their social performance, customer feedback and behaviour, he concluded.
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