The global consulting firm BCG reports that teams that work together in the same place report higher productivity and effectiveness. Agile leaders need to make doubly sure that teams align around the company’s overall purpose, strategy, and priorities. Virtual meetings (employing videoconferencing when possible) and instant messaging are used as needed to chat with colleagues about work and other issues. Frequent calls or conferences during the early days of remote working can help people adapt to a new way of interacting
Companies that make bold moves during challenging times can turn adversity into advantage. The SARS outbreak of 2003 is often credited with giving rise to e-commerce giants such as Alibaba and JD.com. During the four previous global economic downturns, 14% of companies were actually able to increase both sales growth and profit margins, according to Boston Consulting Group research. Some companies that are on the forefront of these trends and have already begun the Analytics journey will thrive in the post-COVID world
The current crisis and its aftermath should motivate companies to adjust their business models to the new reality. Winners will reinvent themselves by putting software, AI, and Analytics at the core of their organizations. Data must underlie every aspect of the operating model, providing critical input to a broad range of tasks. Even the most autonomous algorithms and applications need humans to provide the contextual understanding and expertise that Analytics typically lacks.
Askdata is the right platform for optimizing internal processes, creating new customer experiences and developing new business models. Every company can become data-driven business leveraging our human + AI data approach.
A BCG survey of responses to the COVID-19 crisis found that most companies have focused so far on reactive measures. But now is the perfect time to take bold, transformative action. Companies that have already introduced Analytics use cases should press ahead immediately in order to achieve maximum impact in the near term. They should not hesitate to scale up, because AI will be a significant lever that can help them manage this crisis. Unless they are digital natives that already have AI at their core, companies should view the current slowdown in day-to-day operations as an opportunity for strategic reflection about how value creation mechanisms are changing—and how to prepare for the post-crisis world. They should start preparing and re-skilling their people and increasing their loyalty, enthusiasm, and long-term value in the coming age of AI.