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Business owners and materiality: What is it and why does it matter?

“The world is awash with data”, says UBS

According to IDC, EMC, and Bloomberg Intelligence, the annual size of the data universe was about 64 zettabytes in 2020, more than 50 times what it was in 2010 – and this isn’t expected to slow down. UBS Chief Investment Office predicts the global data universe will expand by a factor of more than 10 from 2020 to 2030, reaching 660 zettabytes—equivalent to 610 128 GB iPhones per person. 

Private business owners and entrepreneurs know that relevant data is vital to their businesses, particularly their financial performance. Identifying the most pertinent and hence useful data rests on the concept of materiality – this also matters for customers, stakeholders and investors. 

The latest article from UBS will explore materiality and why it matters today, particularly as its definition increasingly extends to cover sustainability metrics around environmental, social, and corporate governance (ESG) performance. 

Click here to read the latest article from UBS, where you can discover what materiality is, why it matters for business owners today, and much more.