From the due diligence phase to the reporting one, Data Analytics will be present at all the steps of your CSRD exercise, but it can also be useful for the analysis of all the data points you will set up and let you improve your performance.

• The data points set up will not only be a data identying step, but also a analysis phase that will require simulation and root causes analysis. These two requirements could be handled efficiently with data analytics tools and methodology. 

• Data Analytics will not only be used on structured data but also on unstructured data as methodologies such as text mining will be useful to set up and test your narratives. Mastering the use of unstructured data will also help you collecting all sorts of data. 

• Data analytics techniques and methodologies will also be useful to check data that need to be collected and improve them to make your analysis more efficient. 
• Reporting will require auditable documents that can be certified by external auditors and Data analytics software could be reliable if used with a robust procedure to guarantee traceability and integrity of the data 
• The analysis phase will be the more exciting and could be allowed only by the use of data analytics tools as reporting tools cannot let you do. 
• The technique we use will be more agile and less costly than the reporting platforms and that could be an asset in these uncertain times 

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Data analytics will help you in this phase to : 

• understand the business model, identify stakeholders and build the value chain with the analysis of both structured and unstructured data will
• process the data you will initially collect to assess the amounts and volumes at stake for your double materiality review for Impacts, Risks and opportunities 
• review existing narratives and do benchmark with the use of text mining

Once you will have your analysis done, you will need to build your data points and data analytics methods and tools will be crucial to : 

• Understand the root cause of your impacts by conducting a data analysis of the related data
• Test your indicators to check their reliability and accuracy but also to assess the right parameters by doing simulations of changes in them 
• Test also the computation phase to build your procedure 

At the same time you will identify the relevant indicators, your will have to build your process and procedure to maintain these indicators and produce the reporting 

• Data analytics techniques will help clean the collected and data and check them for accuracy 
• Techniques will also enable to check the consistency and relevance of the data and if need be enrich them with other information to make them more relevant and improve the performance of the indicators

Data analytics tools and methods will let you use the database you produced for the reporting for further analysis thanks to the level of details you obtained and be able to :

• Understand root causes analysis of negative evolutions or underachievements 

• Expand the scope of analysis by connecting extra financial and financial data and improve forecasts, business plans and budgets

• Help reduce impacts by supporting the ecodesign phase 

• Assess greenwashing risks and detect unusual items in the flows

• Build models to anticipate risks by detecting signs