Episode 32: (Data Bites) Data From Social Enterprises will Change the Way We Do Business

On Monday’s and Wednesday’s episodes we covered a handful of issues with data and social enterprises.

Today’s show considers the lasting effects that Social Enterprises will have on the way we do business. By leveraging the data both used in and stemming from these enterprises, every industry will either focus on the impacts of their businesses to the globe, their customers, their communities, and their employees, or otherwise they will perish!

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Music for the show: Foolish Game / God Don’t Work On Commission by spinmeister (c) copyright 2014 Licensed under a Creative Commons Attribution (3.0) license. http://dig.ccmixter.org/files/spinmeister/46822 Ft: Snowflake

Show Notes:

Welcome to data couture the podcast about data culture at work at home. And on the go. I’m your host, Jordan Bohall. To stay up to date with everything data controller, be sure to like and subscribe down below. Furthermore, be sure to follow us around the internet at data to her pod, on Twitter, at data couture podcast on Instagram, and at data couture pod on Facebook.
Of course, if you’d like to help keep the show going, then consider becoming a patron at patreon. com forward slash data couture. Now, onto the show,

Welcome to Data Couture, I’m your host Jordan, on today’s data bites, we’re going to be talking about the rise of the social enterprise. Now on Monday and Wednesday, we’re heavily focused on social entrepreneurship and the various data challenges and transformations that are necessary but also very, very difficult to get these types of startups off the ground. Now, what I want to talk about today is something a little different, and perhaps will be, I don’t know, mocked by the social entrepreneurship community if those people are listening, and that’s that this rise of this new type of super hot startup, the sexy new unicorn version of the startup community, it’s just in response to the changing nature of businesses all around the country and around the world. Just so give me to give you an example. What I mean is take a look at FinTech companies, financial technology companies, these were all the rage five years ago, they continue to be quote, unquote, disruptive to the financial services industry. But at the end of the day, what you find is that they’re not operating like full banks or full credit unions, they’re offering one or two services, maybe a checking account, maybe a lending option, maybe some sort of retirement account, but they don’t act in the same way that a bank acts.

And so one reason for these types, these fin techs to have originated is because people were heavily dissatisfied with their relationship with banks and credit unions and other financial services institutions. And so these new disruptive again, in quotes, technologies are these disruptive startups that are super sexy into the various funding communities. All they did was bite at the banks by at the credit unions bite at the financial services institutions, by offering products and services, and a very limited very small part of the overall ecosystem of the financial services industry.

And, again, it was just because customers were unhappy with various aspects of their relationships with these types of companies. Of course, we’ve seen that with the rise of these fin techs, well, what happens, banks and credit unions and financial services institutions are starting to look more and more like these organizations, these hot young startups by offering very similar products, very similar customer experiences, all that kind of thing. Now, when it comes to social entrepreneurship, are these hot young social startups, I see it as the same kind of thing, but more towards an overall culture of an organization, the way that all the organizations are trending, they care about their customers, their employees, their communities, all these kinds of things these social entrepreneurs do.

And guess what companies are starting to do the same. And so just like the FinTech, we’re heavily data driven so to are these social enterprise startups, seeing enterprise because for some reason, I just can’t get over trying to say entrepreneur, entrepreneur, entrepreneur. Nevertheless, these social entrepreneur companies, these social enterprises, they see a gap and the way that our current companies are run the look at Nike look at I don’t know Wendy’s for that matter. They are Pepsi even, even though Pepsi had a major gap and a social issue. The point is, now major brands are starting to see how effective caring or at least pretending to care, at least on the surface, caring about these social issues are actually driving revenue, they’re driving product sells, they’re driving, more and more customers to come through the door to form relationships, once again with them.

And so given that the social enterprises, these new startups are looking more and more how to get data for their various social issues, so too, will these much larger companies that have much larger assets and much larger capabilities to go out, just straight up by the data or employ a team of researchers to go collect the data if necessary, as I mentioned, on Wednesdays episode, and to connect it back to previous weeks through digital literacy or data literacy. This is a fabulous thing. Why because every single one of us as a little computer living in our pocket are our telephones or smartphones. And if we don’t have one of those, we have a computer at work. And if we don’t have one of those, we can go to the library, there’s so many ways to access data about a particular company, we can see various media reports, we can watch it on TV to see how various companies are responding to social problems facing our world today, that it’s just going to become part of who we are as digitally literate natives digitally literate, consumers, citizens, and this 21st century.

So while I don’t necessarily see all of us needing to go out and support our local social entrepreneurs startup in our hometown, it is very good that venture venture capitalists are looking to fund these people fund these enterprises fund these important projects, because it’s going to get every other company around the United States around America around the world to actually start operating in a way that’s beneficial both to their bottom line, let’s face it, but also to the good of the world, the people, their employees, anything and everything that has some sort of connection to that company. And for that, I want to say thank you social entrepreneurs is you are the vanguard for changing the way that business is done.

Talk to you next time.

That’s it for the show. Thank you for listening. And if you like what you’ve heard,
think consider leaving a comment or like down below.
Stay up to date on everything data couture, be sure to follow us on Twitter at data couture pod, consider becoming a patron@patreon.com forward slash data couture music for the podcast. It’s called foolish game. God don’t work on commission by the artist spinmeister us under a Creative Commons Attribution 3.0 license, writing, editing and production of the podcast is by
your host, Jordan Bohall.

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