Check out this web video with data experts discussing the challenges of mission-driven and finance-driven enterprise data.
In 2013, Heron kicked off an ongoing exploration into the ways that modern data tools can be used to measure both the social and financial impact of for-profit and nonprofit enterprises. We began with a July retreat entitled “The Power of Information”, attended by a wide range of leaders from the business and social sectors including foundations and government, who all have a significant expertise in data and information technology. To continue the discussion, we hosted this interactive webinar featuring:
The panel discussed the nature of mission-driven and finance-driven data. At an organizational level, what do these two types of data look like? How do they interact, overlap and diverge? And how can we apply this in our drive for impact and returns—as investors/funders, social enterprises and nonprofits?
In "The Finance-Impact Data Spectrum", Annie Donovan discusses the difference between collecting financial and impact data, the two ends of the spectrum in impact data collection, and a model of the ideal.
In "Data-Driven vs. Data-Informed", Jake Porway argues that there isn't a clear line between financial data and impact data, but there is an important difference between different ways of using data to make decisions in how an organization is run.
In "Wallowing in the Data", Annie Donovan explains the culture needed to dive into data, and why to some degree it doesn't matter if a data point is about financial or impact data.
In "How Small Organizations Start Toward Big Data", Eric J. Henderson asked, how can a small organization with a small budget get started on the data trail? Annie Donovan responds: team up with like organizations. Jake Porway answers: Look creatively at what you already have.
Editor's note: The above is an excerpt from our January 2014 webinar titled The Power of Information. However, videos from Spreecast are no longer available due to a change in business model.