Bangor Business School is using its expertise in powerful data analytics to help Welsh companies gain valuable insights and grow sustainable businesses.

A team of experts in data analytics and finance from Bangor University’s Business School will, over the next six months, develop a greater understanding of how North Wales businesses’ currently use data analytics to drive decision-making and what future plans they have to expand and develop their data analytics capabilities. This has been made possible thanks to significant funding from Welsh Government’s Smart Flexible Innovation Support scheme, which supports demand-driven Research, Development and Innovation.

Numerous reports from the UK and globally are citing the exponential growth in the use of data analytics, but also identifying a skills shortage in this aspect of business management skills – a gap Bangor University are already trying to fill by offering an undergraduate degree in Business Data Analytics.

Professor Adrian Gepp from Bangor University said,

“There has been an explosion in the use of data analytics over the last decade, and whilst some businesses in the region are leading the way in harnessing the power of the data they hold, we believe that many more businesses in North Wales need to truly embrace the changes and opportunities it brings to future-proof their business.

“The team here at Bangor Business School have worked all over the world in this field, so we were keen to find a way of transferring this academic and real-world experience we have into a collaborative research process that will ultimately improve the operations of Welsh businesses by helping them harness the full potential of their data for sustainable development and competitive edge.”

Working alongside colleagues Dr Laurence Jones and Dr Heather He, Professor Gepp aims to consult Welsh businesses on two key issues:

• Their use and challenges in implementing data analytics
• Their Environmental, Social and Governance (ESG) considerations and concerns

Dr He added,

“Environmental, Social and Governance considerations, or ESG as it is widely known, is central to businesses for several reasons, in particular future growth and sustainability. How ESG data is collected and evidenced can be crucial when it comes to both public and private funding and investment.”

Dr Jones said,

“We want to build connections with as many business leaders as possible about the challenges and opportunities their data presents, and give businesses an insight into how they can leverage new and innovative methods to harness their data to drive strategic decision making. Ultimately, our aim is to empower businesses to use data analytics to drive growth and innovation in the Welsh economy.

Following the research process, a white paper on the use and development of data analytics in North Wales will be shared with the businesses involved.

If you are a North Wales business and want to get involved to benefit your business contact Adrian Gepp [email protected] for an informal discussion.