Businesses and Sustainability: 5 Technologies Shaping the Future

Today, the transparency of companies’ environmental, economic, and social criteria is crucial for customers, investors, and other stakeholders. Because of this, businesses spend a lot of effort defining a way to consistently and efficiently collect and share non-financial data. Digital technologies help with such tasks and offer various solutions. Technological innovations make it possible to detect weaknesses in enterprises on time and promptly fix problems, assess risks, and improve planning, taking it to a whole new level based on accurate data. 

Different technologies, including real time satellite imaging can help companies to optimize different processes, improve data collection and processing and increase efficiency. In addition, digital technologies enable companies to become more sustainable in different ways. It applies to the policy on relations with employees and the role in social and environmental development, as well as to reduce the negative impact on the environment. In this article, you will find information about what technological innovations are transforming businesses and making them more sustainable.

Satellite Imaging

The resolution and data that can be extracted from satellite pictures of Earth depends on the type of sensors with which these satellites are equipped. There are active and passive sensors. The first type directs the radiation itself and analyzes the reflected signal. The second type of sensor collects data from the sun’s electromagnetic radiation, which is reflected from the surface of our planet.

Satellite imagery has a wide range of applications across different industries. Historical and the most up-to-date satellite images can be compared and used for change assessment, navigation, forecasting, planning, and mapping. In today’s world, it is one of the most crucial tools for various businesses, which allows them to make more effective decisions that affect both the profitability and sustainability of enterprises.

EOS LandViewer is a user-friendly solution that provides free medium-resolution satellite imagery and paid high-resolution satellite imagery from many different sources. Users can also apply different indices for convenient satellite imagery analytics. The server focuses on the area of ​​interest selected by the user. It provides relevant images that can be further processed directly on the platform and then downloaded in a convenient format. The platform also enables users to find and compare multiple images of the same area taken at different times and on different dates, which makes it possible to compare these images and evaluate changes.

Internet of Things (IoT)

Speaking about the impact of digital technologies, one cannot fail to mention the Internet of Things. This technology involves using various sensors and other electronics that interact with each other remotely and exchange data. IoT offers more than just the digitalization of manufacturing and business processes. It entails the creation of new operating business models based on connected smart devices. Thanks to IoT, self-regulating systems provide monitoring and control processes. 

This technology is actively used in various fields. It provides many opportunities to create smart household appliances, houses, and production sectors, including agriculture. For example, IoT can be used to collect data on weather, soil, and crop conditions and evaluate various aspects of your farm. Moreover, this technology allows you to automate many critical agricultural processes, including irrigation and fertilization. IoT makes it possible to save resources due to their more accurate use and reduce the negative impact on the environment.

Predictive analytics

Accelerating the data collection and analysis processes will lead to improved decision-making and management structuring. Transforming data into actionable information that drives sustainable development and developing effective new strategies for companies is essential. Predictive analytics technologies solve the problems associated with ESG criteria, allowing companies to compare performance and identify risks. A technological breakthrough in predictive analytics will enable different enterprises to work with ESG data on a whole new level when used correctly. 

Digitalization

Unlike IoT or live satellite images, digitalization does not entirely change the concept of doing business and does not lead to the formation of fundamentally new business ideas. Digitization improves familiar processes and makes it easier to access and share information. The customer service industry is getting the most benefit from digitalization, as it considerably facilitates agents’ work, allowing them to find customer data, even in archives, quickly. The primary methods of working with clients do not change, but the process becomes more efficient, as agents can receive requests, find data and offer solutions in near real-time.

Blockchain

Blockchain is a distributed database of transactions in which information cannot be changed; therefore, all parties receive the same information. Accordingly, the blockchain allows transactions to be verified without the involvement of a third party, such as a bank. The parties can interact based on established trust backed by accurate data. This technology significantly impacts business and will continue to expand its influence in the coming years. Today, blockchain is primarily associated with cryptocurrency, but its capabilities can dramatically improve healthcare, consumer goods, real estate, etc. industries.