The Global Value Exchange, a free online resource developed by the UK chapter of Social Value International, aims to elucidate how organizations can gather social impact data. Ben Carpenter of Social Value UK presented the Global Value Exchange (GVE) platform and its tools to a group of 15 attendees at the last DataStorm. GVE users can access a myriad of metrics for social impact, as well as input their own. The crowdsourced database, browseGVE, allows users to search thousands of outcomes, indicators and valuations measurements. myGVE guides users in collecting the kind of data that can not only improve a project, but can communicate social value to investors and funders.

To further strengthen this bridge, GVE should continue to do two key things:

Integrate other tools: There is no need to reinvent the wheel! By incorporating other platforms, GVE can be a more resourceful tool for its users. For example, GVE is collaborating with Keystone Accountability to incorporate the Feedback Commons, a tool that teaches organizations to how to collect and manage feedback data.
Price intelligently: Currently, GVE is free for anyone to access and use. As GVE adds more tools and resources, Social Value UK should consider establishing tiered payment schemes. For example, Ben and his team are in the process of developing a new API which would allow project level data to be drawn down and pulled in.

Lastly, with myGVE portfolio, users can manage the social value of multiple projects by creating a public portfolio with a shared outcome framework. All three layers of GVE are designed to help organizations build the groundwork for effectively capturing the social impact and social value of their work.

Read the source article at FeedbackLabs