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May 13, 2022

Cloud computing in food: company filings references in Q4 2021 – data

GlobalData has analysed companies’ annual reports and other filings to see which key issues are receiving the most attention.

By Data Journalism Team

Mentions of cloud computing within the filings of companies in the food manufacturing industry were 33% lower in the fourth quarter of 2021 than in Q4 of 2020, fresh figures show.

However, in total, the frequency of sentences related to cloud computing during 2021 was 233% higher than in 2016 when GlobalData first began to track the key issues referred to in company filings.

When food manufacturing companies publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies sentences that relate to disruptive forces facing companies in the coming years. Cloud computing is one of these topics – companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.

To assess whether cloud computing is featuring more in the summaries and strategies of food manufacturing companies, two measures were calculated. Firstly, we looked at the percentage of companies that have mentioned cloud computing at least once in filings during the past twelve months – this was 33% compared to 10% in 2016. Secondly, we calculated the percentage of analysed sentences that referred to cloud computing.

Of the ten biggest employers in the food manufacturing industry, Grupo Bimbo was the company that referred to cloud computing the most during 2021. GlobalData identified one cloud-related sentence in the Mexico-based company’s filings – 0.03% of all sentences. Japan’s Itochu mentioned cloud computing the second-most - the issue was referred to in 0.02% of sentences in the company’s filings.

In the last quarter, food manufacturing companies based in Oceania were most likely to mention cloud computing with 0.15% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in Asia mentioned cloud computing in just 0.01% of sentences.

This analysis provides an approximate indication of which companies are focusing on cloud computing and how important the issue is considered within the food manufacturing industry but it also has limitations and should be interpreted carefully. For example, a company mentioning cloud computing more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into cloud computing have been successes or failures.

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