Lenovo: With data and collaboration between enterprises, we can address the greatest challenges on the planet

Lenovo presented the results of the “Data for Humanity” report, which highlights the importance of a collaborative approach to data to improve stability and security globally. The research, conducted in 5 countries including Italy on 600 executives from various sectors, reveals how companies that successfully use data are more inclined to face the greatest challenges on the planet. This group of Data Leader companies are already seeing financial benefits from this approach: over three-quarters (78%) have shown an increase in revenue in the last 12 months, compared to half (50%) of those companies that do not have full control of the own data. The report projects that companies will invest an average of $3 million in data collaboration technologies and initiatives over the next 12 months with the expectation of increasing their revenues by 50%. But while profit is undoubtedly important these days, it emerges that the social interest in the collaborative use of data is equally important to business leaders.

“Data can help us address a multitude of business and social challenges while increasing profits, which is a win-win for companies that are actively leveraging the value of the data they hold,” said Giovanni Di Filippo, EMEA President, Lenovo Infrastructure Solutions Group. “It is clear that executives at large companies that have an impact on society recognize the value of data as they plan to invest in artificial intelligence, analytics, and data storage. research shows the confidence of entrepreneurs in the power of data – particularly when we consider the challenging economic environment in which companies find themselves today”.

The innovative use of data for the welfare of society

It is clear from the study that data is a solution to help companies meet the challenges of the planet while improving financial stability, with a quarter (26%) of respondents saying they want to do more with their data for the benefit of humanity.

Findings indicate that the energy crisis is ranked the top threat facing over the next three years, with nearly three-quarters of executives (71%) saying they expect a moderate to severe impact on business. Among the risk situations follow global warming (59%), poor health care (53%) and income inequality (52%). However, only two-fifths (40%) of respondents said their company is taking steps over the next three years to address the energy crisis, even fewer for global warming (33%), healthcare (22%) and income equality (18%).

Collaboration as an advantage for innovation

While over a fifth (23%) of executives don’t know how to use data in a way that impacts the planet, many believe that collaboration can benefit humanity, innovation and business.

Companies are already sharing data with external partners and organizations to help improve education (46%) and commerce (46%), strengthen democracies and human rights (44%), support environmental initiatives (43%) and encourage innovation (43%).

Those who have not yet participated in data partnerships and ecosystems cite costs as the biggest obstacle (60%), followed by concerns about security (57%) and risk and compliance (57%).

Data Leaders and Data Followers

Lenovo’s research identifies an elite group called Data Leaders, who make up 15% of the sample, and Data Followers, who make up 37% of the sample.

Over the next three years, Data Leaders are more likely than Data Followers to take action against the energy crisis (60% of Leaders vs 33% of Followers), poor healthcare (29% of Leaders vs 18% of Followers) , poor education (61% of Leaders against 25% of Followers) and global warming (34% of Leaders against 29% of Followers). Data leaders have a higher perception of the importance of data to solve these challenges and the effectiveness of using data in the development of environmental, social and governance (ESG) initiatives (96%). On the contrary, only a minority (41%) of Data Followers claims to be active in this area.

Data Leaders compared to Data Followers are more inclined to use their data for a mix of commercial and social initiatives, rather than just for profit. This suggests that as organizations become more advanced in using their data, they are more likely to use it for the greater good. “Data Leaders are leading the way in this direction through their use of data and the financial results to demonstrate it,” adds Di Filippo. “Leveraging coordinated approaches that unite strategy, culture, people and technology, they incorporate data into their daily operations, analyzing the benefits not only for themselves and their companies, but also for the planet, using intelligent technology to create a digital future ethical”.

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