4GLOBAL, the UK-based data, services and software company focused on major sporting events and the promotion and measurement of physical activity, has just released the latest version of its Social Value Calculator (SVC). The unique tool reveals the cash benefits to people and society that come from adopting a more active lifestyle. The platform puts a cash value on the benefits of increased exercise, saving the NHS money in treating diseases. It also maps the impact exercise can have on educational outcomes and reduced crime.
Developed in partnership with Sheffield University, the calculator is designed to give leisure operators, as well as local authorities, national funding bodies and stakeholders across the sector, a way of measuring and providing evidence for the Social Value created from investment in sport and physical activity facilities. For example, in Sandwell Metropolitan Borough Council the data from 4GLOBAL shows that the targeted measures from local authorities have saved the NHS £566,876 in reduced costs for type two diabetes and dementia alone.
Eloy Mazon, Chief Executive Officer of 4GLOBAL, said: “Our new Social Value Calculator is part of our ongoing programme of upgrades to assist clients in making investment decisions and helping them assess whether their investments are achieving the criteria set for them.
“We are delighted that all 4GLOBAL’s existing clients are migrating to the new product. Also encouragingly, additional new clients are already showing interest and are attracted by the enhanced offering.
“Our aim is to lead the high growth market in which we operate providing clients with highly functional tools to assess and monitor projects. With our committed team, unique database and market leading analytical tools I believe we can look forward optimistically to an exciting future for 4GLOBAL.”
The calculator works by combining operator data with sector wide benchmarks and academic research, undertaken by the Sport Industry Research Centre (SIRC) at Sheffield Hallam University and funded by DCMS and Sport England. It captures and standardises participation data for positive changes caused by regular physical activity across improved mental and physical health, improved wellbeing, increased individual development and social and community development, including crime and converting these changes into monetary value. The model can identify areas of high deprivation and support funding applications by identifying areas with high social value potential. The calculator supports funding applications as it can identify areas with high social value potential, allowing savings to be aligned to specific social areas.
The 4GLOBAL Social Value Calculator is a stand-alone tool embedded into 4GLOBAL’s DataHub platform, which is the largest repository for sport and leisure data in the UK. The platform currently has over one billion data points, with 2,500 leisure sites actively sharing data, 21 million individual participants and 5,500 licensed users. The 4GLOBAL Social Value Calculator is also integrated into the Sport England Moving Communities platform providing a summary dashboard to local authorities and facility operators.
What’s new in version 3
The new version uses a duration-based model with a focus on the amount of time per week people spend engaged in physical activity. The model now extends to include those who are less active rather than the previous focus on the more active only. The new version of the Social Value Calculator also enables clients to assess the financial benefits arising from improvements in physical and mental health, subjective wellbeing, individual development and social and community development. Users can apply a range of filters to focus on specific outcomes or target groups which are key to their investment decisions.
4GLOBAL’s SVC is already widely used by its clients to assess the financial impact of health and wellbeing initiatives. The Directors believe that the new SVC will provide 4GLOBAL’s clients with the tools to make even more compelling cases for new contracts and will strengthen further 4GLOBAL’s unique selling proposition and enhance new business conversions.