February 11, 2016
The year is very young and we’re still (hopefully) full of optimism for what 2016 has in store as we look to improve upon last year and make it an emphasis to stay ahead of the curve. With the announcement of the Sustainable Development Goals (SDG) in late 2015, they will play the key role of influencer on trends over the year. Below is a list of what we think will be the top trends in data for global development.
There will be an increase in demand from management within organizations to make pertinent decisions based off of quantitative data. Why? Working in an NGO or non-profit we all know how stringent project budgets are and proof of progress, success and operational direction will be based on numbers.
The SDGs was a sector wake-up call to drive greater impact with greater transparency. There will be pressure from key stakeholders at funding organizations to know their money is being put to good use and as result, donors across the board will follow in the footsteps of the likes of USAID and Bill& Melinda Gates Foundation focusing heavily in metrics driven impact.
Most of aid funding goes to the major name brand NGOs. It’s because of their brand awareness, proven track record and operational infrastructure, they’re able to attract and secure regular funding from donors. But the #ReShapeAid movement is slowly gaining traction and has the potential to force donors to fund directly more Global South NGOs, rather than the usual western NGO suspects. In order for Global South NGOs to help themselves to be considered high quality candidates for funding, they will need to better track successes and impact, harnessing data will become more critical to their business operations and in making their cases even stronger to secure the funds they need.
Social impact investing for the last few years has been the trending buzzword. In 2016 it will become mainstream. Financial investing in organizations which showcase scalability, return on value and have social impact will continue to grow.
If you’re looking to take advantage of the rise of social impact investment, data will be key in navigating the water of funding. Check out our blog post and see how to do it.
2016 will be a pivotal year for data in the global development sector. How is your organization adapting?
Agree or disagree, we’d love to hear your thoughts!
Sign up to receive emails with TaroWorks news, industry trends and best practices.