As the world moving from the implications of COVID 19 and coming back to work discussion, it is the time for the C-Suite to reconsider the role data is serving in their strategy. Now organizations need the C-suite ready to act on the relevant and timely data, even though companies all the data but become paralyze or ineffectual without understanding it and acting quickly on it.
C- suite executive must be familiar with modern analytical concepts such as the executive must move from descriptive analytics to predictive analytics that outlines the various scenarios and conditions to make a certain prediction about the future. There are several questions that the executive has to ask themselves not only in immediate terms but in the post-COVID 19 worlds.
Where are employees and are they safe?
Companies are beginning to envision a new normal there are a many important offices and real estate decision that area assuredly considering regarding appropriate remote work procedures so that employees can return office safely, to make possible this quickly and efficiently by enabling continuous monitoring for changing conditions provide an accurate image of the company data. A recent survey conducted by Gartner showed that 41% of employees are more working at least some of the time post-pandemic remotely. For example, analytics must help determine whether there are enough resources for remote workers, whether there is the relocation of office fits the long and short term staff culture needs.
Where are customers and how affected are they during the pandemic?
As COVID 19 cases are increasing daily, the C-suite needs to evaluate all the aspects especially about the customers, decision-makers should have real-time customer data available on-demand. Having up-to-data Net promoter scores about the data on hand is increasing importance during the pandemic, it helps the organization to understand what customer thinks about their product and services. And the importance of establishing data-driven business continuity plans will guarantee the continuation of important operational structure.
How will this affect the demand for products and services?
The purchasing behavior of the customers is shifting day by day based on the industry sector such as travel and local retail are one of the most impacted sectors. To avoid questions that can arise during the pandemic situation organization must have to tap into the wealth of both internal and external data to react and plan for shifts that are occurring in products and services to turn the profit during these crises.
Data can help an organization to guide a more stable future, these instances can show the need for the ability to collect, work, analyze, and argue with these data. The c-suite is tasked with so many tough decisions during certain times and with good knowledge about the data and understanding can help them make a better decision by using the appropriate tool.