Big Data in times of crisis

Measuring sales performance, observing trends and anticipating the impact that the crisis will have on the market in which each company operates has never been more important, and in this context, accurate data management and analysis becomes essential.

Thursday, April 23, 2020

"... Twelve years ago, in the midst of the economic downturn in 2008, British Airways (BA) was cutting costs across the organization. However, one area they refused to cut was their business intelligence program. BA said that continued investment in analysis during the crisis was a critical factor in streamlining marketing activities and curbing fraudulent bookings when its business was particularly fragile. They understood the need to maintain momentum in their analysis program in the face of an overwhelming crisis."

You may be interested in "New Commercial Reality: How to Reach Customers"

The British Airways case reviewed by the firm Sisense may seem not so easy to implement for smaller companies, however, any type of company should bet on the application, each at its own scale, of business intelligence in crisis contexts, such as the current scenario generated by the covid-19 outbreak.

Although not all companies have the capacity to sustain their investments in technology and infrastructure when sales fall and uncertainty takes hold of the market, keeping track of the business situation is fundamental in order not to be disrupted.

Also see "Changes in Lifestyle and the New Commercial Reality"

Business leaders agree that dealing with a crisis of such complexity and magnitude not seen in the last 50 years without access to up-to-date and real information is like sailing a boat blindly, without instruments or GPS.

Maximizing revenue, boosting efficiency and predicting supply and demand trends are some of the opportunities that can be seized by collecting and analyzing data about the company and the market in which it operates, says the article in Sisense.com.

¿Busca soluciones de inteligencia comercial para su empresa?

Looking for Business Intelligence solutions for your company? Let us help you!









this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423


More on this topic

Guatemala: Household Expenditure Forecast

April 2020

Once the local economy begins to return to normal, as isolation and mobility restrictions are relaxed, it is estimated that Guatemalan households will have reduced their demand for car insurance by 7%.

Using a demand/income sensitivity model developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to forecast the variations in demand by Guatemalan households for different goods and services as the most critical phases of the spread of the covid-19 are overcome and the measures restricting mobility in the country are lifted.

Tourism, Business and the New Commercial Reality

April 2020

The sharp drop expected in the income of the tourism industry in Central America will be partially explained by the decline in hotel activity and tourist marinas.

The "Information System for the Impact Analysis of Covid-19 on Business", developed by the Trade Intelligence Unit of CentralAmericaData, measures the impact that the crisis will have on companies according to their sector or economic activity, considering various scenarios for the coming months.

The Risks of Mishandling Big Data

February 2017

When using data to make business decisions, companies must understand that having a lot of information is not the same as having real, verified and high quality information.

EDITORIAL 

Every day more and more companies are using new methods of analyzing information to make their business decisions, but on the path towards change it is all too easy to make the mistake of believing that having a lot of information,real, is the same as having real, verified and high quality information.

Business Information "Convenient for Me"

November 2016

The failure of polls on the presidential election in the US shows that in order to get the right information, data must be collected and analyzed with scientific rigor, free from any bias caused by the personal interest of pollsters and analysts.

EDITORIAL