Why Analytics Are Essential in Times of Crisis

Hello,

In the midst of the COVID-19 crisis, maintaining momentum is vital and the art of decision-making imperative. Now is the time to apply the full force of business intelligence used by analytics teams to help navigate growing uncertainty. Three clear opportunities are ripe to collect, analyze, and act on data:

1. Maximize revenues:  Identify drivers to increase sales by evaluating existing customers and processes.
2. Drive efficiencies:  Identify underperforming departments and programs and determine where to reduce expenses. Use analytics to correlate and compare your operations, performance management, and financial analysis.
3. Predict:  Lastly, look to forecast trends in supply and demand and track fast-moving changes in leading indicators.

To foster the art of the possible, below are examples of how regular businesses use analytics to maximize customer revenue, reduce costs, forecast outcomes, and drive efficiency. 

Like we know there is some problems suited to smart analytical solutions, as well as what happens when leaders fail to leverage insights from data and make decisions based on other criteria. In times of economic turbulence, doubling down on analytics can provide more certainty which becomes increasingly important.  At Sisense, we know successful analytical programs and thinking are essential to survive these times of crisis.