Reimagining a New Future by Navigating a Crisis with Data Posted on : Apr 08 - 2021

“An opportunity of a lifetime.” Many businesses would not describe the COVID-19 pandemic in these words, but forward-thinking leaders are doing just that. Framing a crisis as an opportunity to reinvent their organizations has been essential for these leaders. These successful individuals will tell you that it is a growth mindset, executed with data and agility, that can help reimagine business models, reshape operations and reimagine a new future.

What makes a crisis like COVID-19 more challenging than an everyday obstacle is the multi-level disruption that is created. Consumer needs are thrown into continuous flux, work from home mandates have drastic impact on employees, supply chains, and trade routes are in turmoil. Any one of these dimensions would ordinarily pose a top-level challenge, but all at once these drivers create a crisis that requires a unique response. Yet the successful leaders are able to act with precision and focus, using a foundation of real time data to navigate with confidence.

Acceleration of Digitalization

Rather than taking a backseat, enterprises have doubled down on investments in technology and data. Research firms estimate that a decade worth of digital progress has been accelerated due to COVID-19. With lockdown and quarantine measures forcing both businesses and consumers to go ‘digital’, there is no longer an option to take it slow. Concerns over ‘dirty’ currency are driving towards a cashless society. As customers isolate to their homes over health concerns they are leveraging home delivery driving huge growth in digital payments. View More