Categories: BusinessRecent

The role of data analytics in business organisations amid the pandemic

From small local businesses to start-ups and big conglomerates, the pandemic has gravely impacted the financial health of companies across almost all industries. In the meantime, business professionals are seeking ways to continue the business operations all the while ensuring that their employees’ health is not compromised. Moreover, the decisions that they make can have a profound impact on the organisation’s future growth prospect and this is what makes their roles very critical, especially in today’s time.

With that said, data analytics plays a vital role since data is at the core of any business decisions these days. It is important to have short and long term data-driven plans prepared beforehand to effectively tackle the challenges posed by the pandemic while improving the possibilities of the business to emerge profitable post pandemic. Where workload and data volumes have increased multi-fold, ensuring that the business performance does not get affected is paramount. Therefore, data maintenance is essential. Data analytics is a powerful tool that helps arrange and analyse data and give meaningful insights into bulk of data in a short span of time.

Companies like WGD Analytics have introduced various analytics tools for a specific purpose. For instance, the social media analytics helps in keeping track of consumer trends and likewise, security analytics helps ensure safety and data security of business organisations. With the changing patterns of customer behaviour amid the pandemic, the impact it has had on many industries is obvious. Optimising existing data such as getting an in-depth view of customer an be effective in streamlining the decision-making process.

Moreover, as businesses head towards recovery once things return to the new normal, organisations will need to shift their focus on boosting revenue and stay ahead in the market. Even then, the role of data analytics cannot be overstated. By leveraging effective analytics tool to analyse data from large number of sources, businesses can get informed about the emerging trends and anticipate potential risks in the future.

Abhilasa Verma

Recent Posts

RBI disallowing merchants to save financial details online is a great step, explains Pradeep Agarwal

Making payment over the internet has become the new normal. However, it has also increased…

1 week ago

Who is Tarish Bhatt? A sports management professional, consultant, and a sports enthusiast:

‘Do it with passion or not at all’ reads an Instagram caption of the man.…

1 month ago

Australian coal industry earns a fortune as prices soar amidst the surge in demand

The existing coal companies have been ramping up their operations to meet the demand, while…

3 months ago

Cardiologist and a Cardiac Surgeon- What is the difference?

Heart diseases can be fatal! One of the top causes of death worldwide, cardiovascular diseases,…

3 months ago

Navneet Kalra – Owner of Khan Chacha calls restaurants and local tourism “sides of the same coin”

The fact that the tourism sector relies heavily on the hospitality sector is known to…

3 months ago

Pradeep Agarwal Oracle elucidates the new rage that will take over the tech world – Metaverse

Metaverse has been defined as the virtual world that will usher in the next phase…

3 months ago