Coronavirus pandemic How analytics can prepare companies for an outbreak

The life-threatening novel coronavirus has made its strong ripple effects felt beyond the health sector. It has jolted various businesses across the globe. It has been associated with a surge in unemployment and a potential recession to provide a fillip to 5G and working remotely. All tech companies have reacted differently to the situation. So what role can analytics play in how a company deals with such a crisis.At present, we have two options. We can sit back and let it pass or we can spring into action by utilising analytics to make a difference. In fact, one can deploy analytics at this very moment to garner better results. Here are five ways data analytics can influence.Analytics is instrumental in developing a course of action to curb expenditure (restrict or pause media spending) and not drain the revenue sources. The data can be used to determine the demand at the SKU level which can aid in limiting the production and sourcing accordingly, as per the new plan. Data analytics makes changing the operational plan to optimise production capacity and management, etc. easier.Coronavirus has made a great impact worldwide. Hence, continued technological advancement to strengthen the healthcare, government response, community and business requirements is predicted. Through AI and ML (robots sanitisation workers, grocery delivery drones, medical essentials delivery drones, etc.) we are already experiencing an evolution of products and services that help minimise the risk of contagion.