Glossary and Resources
Here you’ll find definitions of the key terms used in the 2023 Survey, as well as links to resources which may be of use to policymakers, researchers and businesses.
Data presented in the 2023 Survey is created by directly measuring the digital activities of Welsh businesses across six key metrics. These metrics are available at the level of individual companies, SIC codes, unitary authorities, regions, and the nation as a whole, making it possible to benchmark the performance of companies against local or sector peers and to compare averages across commercial sectors, localities or regions.
General Terms:
Companies House Register – The most comprehensive available list of registered UK businesses, recording company names, statuses, company directors and persons of significant control, SIC codes, accounts and other information. The sample for this survey was assembled from Welsh businesses registered at Companies House.
ONS Data – The Office for National Statistics (ONS) compiles comprehensive data on UK business performance, which have been used to support and contextualise the results of this survey.
SIC Codes – The UK Standard Industrial Classification (SIC) code is a system for categorising the commercial activities of a company, and is included as part of their Companies House listing. This survey has used the SIC codes of the companies in its sample to measure digital maturity across different commercial sectors within Wales.
ESG: – Environmental, Social and Corporate Governance (ESG) is a framework designed to help companies embed environmental, social and governance priorities such as ecological sustainability or reducing economic inequality into their business practices.
DEI – Like ESG, Diversity, Equity and Inclusion (DEI) is a framework designed to help companies embed values such as gender, racial and LGBTQ+ rights and inclusion into their business practices.
Sample – We created a sample of companies within each UA weighted by SIC proportions and the size of the business population within that authority, based on data we obtained from Companies House.
Key Metrics:
Digital Growth – A measure of the rate and volume of website maintenance activity over time, reflecting the time and resources a company is putting in to maintaining, updating and extending its digital presence.
Digital Maturity – A measure reflecting the overall maturity of a company’s web offering relative to its peers, reflecting a range of different properties including accessibility, use of technologies like chat bots and e-commerce functions, the presence of relevant policies and links to social media accounts, amongst others.
Innovation Score – A measure of the degree to which a company’s digital profile resembles that of an innovative company, calculated by a neural net which has been trained to recognise the observable qualities associated with the digital presence of companies with a proven track record of innovation.
Environmental, Social and Governance (ESG) Score – This metric measures the degree to which the text on a company’s website and in other publicly available materials demonstrates an engagement with ESG concerns.
Diversity, Equity and Inclusion (DEI) Score – This metric measures the degree to which the text on a company’s website and in other publicly available materials demonstrates an engagement with DEI concerns.
Welsh Language Use – A measure of the prevalence of the Welsh Language across a company’s digital presence.
Resources:
As well as the full report, the 2023 Survey also includes a User Guide designed to help businesses understand and act on its findings, as well as a Review for policymakers and business support agencies.
Business Wales Contact – https://businesswales.gov.wales/contact-us
Business Wales Businesses Directory – https://businesswales.gov.wales/business-directory/
Business Wales Marketing and IT Support Resources – https://businesswales.gov.wales/marketing-and-it-holding-page
