Surviving COVID with Analytics

Surviving COVID with Analytics

In the age of coronavirus, data and analytics are of greater importance than ever before. This trend has clearly connected well in the minds of businesses and government, who are turning to analytics to identify efficiencies and insights more than they were before the pandemic, according to a recent survey by Sisense, an analytics provider. [1]

Here are some of the ways that data and analytics has come to the forefront during the pandemic:

  • Predictive Modeling: Businesses and government use historical data to forecast future trends of the virus in order to get ahead of the spread. [2]
  • Decision Making: Leaders need to make data-driven decision to protect vulnerable populations. Primary and secondary data sources are used to best predict viral and human behavior.
  • Answering Important Questions: Questions like “When will things restart”, “How many people could be infected” or “How will demand fluctuate” can be answered using analytics. Answering these questions are crucial to plan for different scenarios.
  • Analytics Cloud Platforms: Moving to the Cloud, in addition to being cheaper and more flexible, will also help differentiate those businesses who can move fastest ahead of their competitors to take advantage of the rapidly changing environment. [3]
  • Understand Key Processes: Ensure your internal and external processes are as productive and successful as intended. Analytics can show how integrated processes are and where potential bottlenecks occur.

While these times are certainly unprecedented, businesses are able to use analytics to ensure that they are staying on course. Utilizing analytics could only help your company during this time, so get out and start analyzing!