How the Coronavirus Crisis is Transforming Business Models and Analytics

An effective ‘journey’ to digital transformation is not so quick or easy as humankind is still moving past the quick-response stage of COVID-19. Organizations had to fundamentally rethink aspects entailing the future of work as developing capabilities are the need of the hour to keep up with the pace of change in the digital age.

Environmental and sustainability concerns are anticipated to get increased attention besides rapid growth in digital activities like AI-enhanced automated recommenders. What has happened during this crisis is merely described anywhere as one is unaware of the fact that ‘What Analytics can do’ to the businesses.


Business models have got the unique opportunity to reimagine themselves

Powering Businesses through the Pandemic!

Covid-19 business impact on its models and digitalization will positively affect several industries as people have seen creation and innovation in businesses during the pandemic throughout human history. Want to get prescribed in specific business initiatives? Analytics is the answer that will aid you in future predictions.

Robust and flexible growth in this Covid-19 landscape requires a broad understanding of ongoing trends with analytics capabilities.

Research has revealed that the human element behind digital technologies has been neglected – perhaps even more worrying is how underutilized digital technologies are? For navigating the journey we need to choose the pathway:

  • Exploring Digital
  • Doing Digital
  • Becoming Digital
  • Being Digital

Transformation with Analytics will ensure the businesses become future-ready as we see amidst this uncertainty leaders have keenly focused on increasingly adopting the digital.

What all do businesses ask for to achieve sustainable growth?

Well, it is just upgrading the capabilities and building future resilience for everyone. If we talk about the visibility of Analytics into various sectors or shifts in businesses then new trends on which we are encountering are below mentioned. Let’s have a light on the information that emerged:

  1. Many telcos are on the lane to deliver or surpass their 5G implementation goals and one of them “Apple” is rumored to be releasing its 5G iPhone later this year (2021).
  2. Wifi6 is also expected to roll out later this year which is working in concert for creating a perfect end-to-end combination of ultra-fast connectivity for homes and offices.
  3. Although the energy sector saw its fair share of disruptions during the pandemic its demand is expected to pick over time as investments in renewable energy will impact the Energy Transition by building a ‘Net Zero’ future.
  4. Customer engagement has seen a digital shift from the traditional one which has seen a change in consumer behavior that emerged overnight.
  5. Based on real-time visibility into operational and financial data, actionable intelligence will remain of strategic importance in the businesses.
  6. Business offices set before this disruption will be used in some other ways because working from remote locations is the ‘future of work’ and an imminent reality.

There has been no doubt in this that Covid-19 has accelerated ‘Digital Transformation’ and will prove itself in conquering the domains of digital change by granting the businesses with a remarkable opportunity to maximize their insights.

Is there still any course of action for them to cross in the state of doubt?

Definitely yes! Organizations are not as far across the digital journey as they perceived! Operational models and business priorities have seen a great shift and all these facts are worth knowing. Integration is a crucial IoT competency that is vital to be understood by everyone.

1. Increased personal surveillance

Intermittent business interruptions due to frequent lockdowns will transform the future business go digital by supplying the product or service needed by customers in an environment-defined manner.

2. Feelings of community

For retention of both customers for an organization and employees for the businesses require, a sense of community for which enterprises have become primarily digital, though, ironically social to provide the training or to hold events for them.

Yesterday’s 360° view of the business models will not be tomorrow!

Because as of now it is well-understood that data continues to grow exponentially but data without technology to analyze it, is useless. Analytics technology has the power to keep the world moving, even if the service team is out of service because digitalization is the only key to keep humankind informed and satisfied during a global emergency.

Last year ACPC’s need has seen an upward trend of growth as more and more people discovered its value as a really important means in providing fast, batter friendly connected laptops to workers and students. Apps that can collect data for contact tracing are also in high demand as APIs from Google and Apple have started been used majorly in smart cities.

With leaders capable and people empowered to lead the teams through volatile markets, the result of any business becomes future-proof, data-driven, and agile. When ‘digital or analytics’ is applied to its full potential, then the engagement with humankind shifts from physical to virtual, thus reducing the overall operational costs of the businesses.

There is no going back to normal and the businesses are partnering up to sustain & grow!

Is there any point in this? Or will it be beneficial to the businesses in their digital transformation?

Well, nothing is for sure in this uncertain world which is crystal clear to everyone after seeing the disruption caused by the pandemic. But one thing is lucid to the organizations that adaptability is now the only mandatory business competency to focus on because something bigger and long-lasting is under-way for everyone in the market.

Companies like Mercedes and NVIDIA have partnered up to put NVIDIA computers in cars by 2024. Cloud provider companies like Google, IBM, Microsoft and AWS are gushing investment into offering acceleration to the cloud. And like these, many organizations are coming forward to help global transformation with Analytics.

Better ways to use these technologies will be discovered by the companies and we can’t wait to see where we can go!