The global retail industry is experiencing an unparalleled crisis amid Covid-19. Consumers are staying home and reducing their spending while they face uncertainties linked to their health, wealth, and jobs. As a result, retailers are laying off staff and struggling to understand their options. They will have to restart and survive in a challenging market. How can leaders minimize losses and find opportunities in the current scenario? With such an unpredictable market, leaders should avoid making decisions based on pre-COVID-19 data and realize that existing dashboards are not of great help. In parallel, leaders should develop analytical models and tools centered on emerging behavior patterns. Finally, while data infrastructure and new technologies are addressable with reasonable investments, the scarcest ingredient for the effective use of analytics is managers’ understanding of what is possible. Data, hardware, and software are available in droves, but human comprehension of the possibilities they enable is much less common. Given that problem, there is a great need for more education aiming at promoting analytical thinking to compete on analytics.
The COVID-19 situation has forced worldwide education organizations to move programs online quickly. Everybody has made his/her best according to technology and teaching skills at hand. Most of the organizations shifted to remote teaching or distance learning in the simplest and quickest way possible — via basic tech tools on learning-management systems, web conferencing platforms, email, and phone. They basically have moved traditional teaching models online. While this abrupt transition has been ok to adapt to a crisis situation quickly, it is now critical to consider that online education is about how we use digital technologies to transform and improve the learning experience and outcomes.
COVID pandemic is urging the world about having high-quality data at the right time to track and measure virus spread. Indeed, containing and managing the COVID pandemic with contact-tracing apps may be very challenging when a data privacy strategy is not set up and effectively implemented from the very start.
Healthcare consumers have changed their wants, needs, and expectations. The organizations working in the healthcare industry that understand this implicitly and then deliver to the expectations, needs, and wants of the consumer will do well.
This month, Paul Tunnah reviews a new book outlining the basics of patient engagement, which cuts to the core of how it is an essential component of delivering positive outcomes and value to the healthcare market.
It is hardly news that the healthcare environment has changed and will continue to change for many years to come. Pharmaceutical companies can no longer just sell pills, but must become partners with healthcare providers and patients; ie, they must go 'beyond the pill' (which is often a mere buzzword these days).