The New Metrics CoLab aims to improve decision-making by expanding the availability of insight on key questions within the new economic and social agenda. In collaboration with leading experts and data-holding companies, the project will crowd source metrics that reveal the emerging contours of today’s global economy and society. In a world where data is increasingly seen as the new currency of the global economy, the New Metrics CoLab presents a new frontier for corporate social responsibility.
Business leaders and policy-makers face significant barriers to maintaining the analytic depth necessary to make informed decisions for today’s economic and social agendas. The metrics currently in use are increasingly irrelevant or partial, wedded to outdated models of economic and social systems, and lacking many of the features that could ensure governance of emerging challenges.
Many new sources of data are a by-product of digitization and further investment is needed to shape and develop new metrics out of those resources. While new types of data, enhanced technologies and more sophisticated analytic methods are set to empower the creation of a range of strong, meaningful metrics, barriers to greater analytic capacity persist; namely, the fragmentation of measurement initiatives, low visibility of innovative approaches and lack of focus on critical measurement challenges among private-sector data-holding companies