The Covid-19 pandemic, which is currently still ongoing, has changed the order of human life—starting from social activities to businesses. A lot of companies have had to change their business strategy to survive this crisis.

Tesla Inc., for example, an American auto company that specializes in electric sports cars faces significant challenges when it comes to transitioning teams to work at home. Using data and analytics, Tesla Inc. can analyze job roles and provide recommendations for the types of jobs that can be transferred to work remotely, and which should be on site.

The Business Intelligence (BI) tools used by the analysis team are beneficial in guiding data acquisition and processing.

Laudon and Jane said that Business Intelligence is an analytical tool used to consolidate data, analyzed, store and access a lot of data to assist in decision makings, such as software for database querying and reporting tools for multidimensional data analysis, and data mining.

From Maximizing Income to Predicting Trends

There are three opportunities for data to be collected, analyzed, and used to make decisions:

1.Maximizing income
Identify the driving factors for increased sales by evaluating current customers and business processes.

2.Increase inefficiency
Identify parts of the business and programs that are performing below average to reduce expenses.
Use analytics to find relationships and compare operational, performance, and financial analysis.

3.Predictions
Conduct trend predictions on supply and demand; observe the rapidly changing lead indicators.

In the era of economic recession storms, enlarging the role of data analytics can provide certainty where it is important. Both program analysis and ways of thinking are the main things to be able to survive in times of crisis like today. *

Sources:

Adapted from https://www.sisense.com/blog/why-analytics-are-essential-in-times-of-crisis/

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