The Social Progress Index (SPI) is an algorithm of sorts devised by The Social Progress Imperative which offers a framework for measuring the facets of social progress for each country in part. The 2015 edition improves on last year’s version through plentiful feedback and an expanded number of countries. A total of 52 indicators were used in the study. A very important takeaway from the study – it tells you where there’s room for business.

The SPI looks at Basic Human Needs, which engulfs nutrition and basic medical care, water and sanitation, shelter, and personal safety. Foundations of Wellbeing is another criteria. This branches into access to basic knowledge, access to information and communications, health and wellness, and ecosystem sustainability.

The Opportunity tab is what its name implies, but it’s also another way of saying “this country could use improvement here and here,” and spans personal rights, personal freedom and choice, tolerance and inclusion, and access to advanced education.

GDP (Gross Domestic Product), the monetary value of all the finished goods and services produced within a country’s borders, plays a crucial role in the assessment, according to The Social Progress Imperative.

The top 10 countries that scored best overall were (in descending order), Australia, Netherlands, Denmark, Finland, Canada, New Zealand, Iceland, Switzerland, Sweden, and Norway.

Norway scored best on Water and Sanitation (In the Basic Human Needs Dimension) and has the most room to improve on the Shelter department. In Foundations of Wellbeing, Norway ranks best on Access to Basic Knowledge but is lackluster in Ecosystem Sustainability. In the Opportunity segment, the country is leader of the pack in Personal Freedom and Choice, but could do better in areas like Access to Advanced Education.

Here’s a clearer breakdown of the key metrics for Norway:

• Basic Human Needs – 94,80 (9th)
• Opportunity – 81.82$ (9th)
• Foundations of Wellbeing – 88.46 (1st)
• Population (2011) – 5.084.190 (99th)
• GDP (PPP) as of 2013 – $62,448 (2nd)

Norway’s Social Progress Index is 88.36, which ranks it 1st among the hundreds of countries tracked by The Social Progress Imperative. Visit socialprogressimperative.org for the bigger picture regarding social progress on a global scale. See where your country is situated and (most importantly) see if you can capitalize on the Opportunity factor.