Challenges in 2018: Data, data, data.

Impakt’s mission is to empower consumers with accurate and actionable information. For every company that we examine, we must only share information meeting a rigorous standard of accuracy and objectivity.

We were forced to reformulate our data strategy since deciding to operate as a not-for-profit. For-profit companies, enjoying access to larger pools of capital and recognizable motivation, can pursue capital intensive projects on shorter time frames — especially when able to access and utilize expensive, high-quality data sources.

Our ultimate strategy for data collection and analysis still involves extensive implementation of natural language processing, crowdsourcing, and original research. This will comprise the second stage of development.

We are currently building what we hope is the best beta possible by tapping into a robust ecosystem of existing data providers. The challenge of identifying, vetting, and creating partnerships with these vendors has added a new dimension to our work.

Impakt is fortunately part of a larger movement involving Environment, Social, and Governance (ESG) criteria to build a more sustainable economy. In order to empower the ethical investment community, a number of data providers have emerged to provide news and investment data for mission-driven investment funds and family offices.

All the major providers of info services for ESG-based investment maintain news and controversy profiles on ~10,000 publicly traded companies. The front runners in the space — players such as TruValue Labs, Arabesque, Sustainalytics, and State Street — aggregate news from tens of thousands online news sources and update them in real time. Impakt is building relationships with key players in this industry, and is currently negotiating an extensive partnership with one of its leaders.

This is a complex process given Impakt’s mission to make data available to all online shoppers using the extension, which isn’t exactly the easiest sell for data providers who require high-paying clients to do what they do.

How you can help

If you’re familiar with any data providers and sources that might be interested in working with us, please help us make it happen!