In times of crisis, organizations often need to make tough decisions fast. That’s particularly true in the era of COVID-19, and our research shows that data and analytics is playing a central role in business decision-making as executives steer their organizations through the unfolding pandemic.
We surveyed 59 data and analytics leaders in North America and across the globe to discover how recent events are affecting their work, and our findings show that demand for data and analytics is soaring.
“Our teams have been working around the clock and face new challenges every day,” says Tim Carey, Director of Data and Performance Analytics at skilled nursing facility operator Bane Care Management. “Our strategy is, as always, to do whatever needs to be done to provide the best care to our beloved residents.”
A full 63.8% of respondents say securing new business is a ‘top three’ challenge for them at present, while 32.2% say the same about their ability to deliver products and services. Meanwhile, 45.8% of survey respondents say cashflow management is one of their organizations’ three greatest challenges.
While just 33.9% of respondents put ensuring staff wellbeing in their top three challenges, 55.9% included it in their top fours. This implies that many are thinking about how best to support their staff as the realities of long-term social distancing begin to take a mental and physical toll on their health.
“Focus on employees and their wellbeing,” recommends Joe Vellaiparambil, CDAO at insurance company AXA Equitable. “You need a motivated and engaged workforce to face the challenges of the current environment.”