Uncertainty, specially these times of COVID-19 have marked an end to the existing crisis management solutions. To keep one’s business agile and respond to the changes happening, data analytics has provided a way to establish a new normal.
To develop timely response, analysis of accurate data is important across all industries. For example,
- Capacity upgradation is done based on the network traffic data in the telecom industry
- Need for medical emergency kits is made ready based on the data from countries that treated COVID-19 previously
- Stock inventory in grocery stores are done using sales data.
Similarly, to proceed your business and to take strategic action plans you need data for analysis.
According to Gartner, to keep your business moving, data about people, products and cost have to collected.
- Collect data on geographical areas that are getting affected and develop a new way of working for your employees.
- Data on demand for products helps you to provide the necessities to your customers and to develop a creative supply chain network and inventory.
- Track costs to develop new business plans.
This data can be collected by keeping track of the severity of the changes happening around. Along with your internal data, keep tabs over the third-party data sources like World Health Organization and local health reports.
So for you to collect data, use some recommended tracking dashboards like:
- Microsoft Bing’s Ai tracker- https://www.bing.com/covid/local/india
- https://www.againstcovid19.com/singapore/dashboard
- https://www.bbc.com/news/world-51235105 – the BBC,
- https://www.healthmap.org/covid-19/?mod=article_inline – the Health Map,
- https://coronavirus.thebaselab.com/
More data can be collected from
- Indian Ministry of Health & Family Welfare: COVID-19 India – https://www.mohfw.gov.in/
- https://www.who.int/emergencies/diseases/novel-coronavirus-2019/situation-reports
- https://github.com/beoutbreakprepared/nCoV2019/tree/master/latest_data
- COVID-19 Open Research Dataset (CORD-19) – https://registry.opendata.aws/cord-19/
Data Analytics steps for your business:
- Set Key performance indicators aka KPIs for your business to enable direction for decisions.
- Collect internal data and combine them with third party data.
- Data selection in line with your KPIs
- Data cleansing – good quality data ready for further decisions.
- Store data and process them. In case of bigdata, Hadoop can be used.
- Data visualization is done informs of graphs etc. using Tableau, QlikView.
Now your business is ready with Data Analytics to develop strategies and respond positively to the changing environment amid COVID-19.
Nicely organized. Clear and concise. Good links for me.
Hello! Data analytics has not lost its relevance since the coronavirus pandemic, because many processes have successfully moved into the online sphere. Thus, much more data needs to be processed than it was before and experts in this field are now increasingly in demand. Moreover, I am sure that it will not lose relevance in the future.