How to Drive Business More Efficiently Post-Covid

COVID-19 is not only a public health crisis, but it has also caused an economic shock significantly impacting businesses and enterprises. India lost over US$4.5 billion every day during the first 21-days of complete lockdown in the year 2020. As the COVID-19 continues to evolve by the 2nd or 3rd wave, there has never been a better time for organisations to rethink and reconfigure their businesses for a changing world.

The economic challenges are similar to a war-like situation or the 1930’s Great Depression. One should remember how the resources were rationalized and the US saw really high level of growth post-depression. We need to take lessons from history and keep our hopes high.

Now is the time for organisations to focus efforts on key areas of their businesses & stabilise their growth. Customers are moving towards a more digital age with more than 750 Million Indians using a smartphone. This pandemic has not only accelerated the process of digitalization but has enhanced the internet economy. The economy will roar due to pent-up demand and it would be the right time to capitalize on consumer hunger.

In the post-COVID world, businesses need to adopt innovative ways to grow in the “new normal”. Embrace ways to increase their online presence, reorder employees to have an efficient structure, target customers directly based on their needs and more.

COVID-19 forced the Indian economy to contract by a whopping 23.9% in the April-June 2020 quarter and at the same time, it changed consumer behaviours and businesses around the globe. Below are some of the trends that it brought with itself:

Even in these tough situations, when market dynamics are changing, the time ahead of us looks good for the businesses.

As per Moody’s, India is expected to grow by 9.3% in this current financial year. India recorded Rs. 1 trillion GST for eight consecutive months. India’s international merchandise trade reached USD$34 billion in March UPI has registered 2.73 billion transactions worth Rs 5 lakh crore in March shattering all previous records. Many short term economic indicators — auto sales, electricity consumption, highway toll collection — were also pointing to a strong recovery after a crushing 2020.

These are very good signs for the Indian economy, given the expected growth of retail, pent-up demand and growing population. However, there are still measures that businesses would have to take in mind.

• Need to get smarter in the way businesses spend money & make decisions.
• Scaling, reducing the inefficient & tracking competitors in the entire decision flow
• Intuition and ground-level knowledge need to be complemented with data-driven ways.
• Create maximum impact with faster, organized & with the lesser workforce.

An important way to enrich all these benefits is by using Alternative Data. Companies like Tata and Colgate have been using and benefitting from Alternative Data in their operations for a while now.

Solutions:

unMazer.ai helps businesses bypass these issues and provide meaningful signals from all the noise.

• Targeted Audience
• Hyperlocal Intelligence
• Footfall Insights

To know more, one could access the business recovery primer in post-covid scenario that we have put together.

There is no denying that this unforeseen pandemic has hit the country hard and has created obstacles in the way of aspiring businesses. However, for businesses, these are times of exponential change. Businesses need to adapt to these new circumstances if they want to ride on the growth curve. Customers connected by smartphones, high-speed mobile networks and social media platforms are forcing them to engage and react in real-time.

Businesses must navigate the financial and operational challenges of coronavirus while rapidly addressing the needs of their people, customers and suppliers. For recovery in the post-covid scenario, businesses should adopt the easily available third-party data to directly press the needs of their customers.

This is where unMazer.ai comes into the picture. We are a SaaS-based data intelligence platform that enables key decisions for market players. Our AI technology provides decision-makers with the most comprehensive and economical insights from multiple sources such as social media, news/articles, locations, transactions and private proprietary data which are anonymized and meet high privacy standards.

Access the full report here. To know more, please visit unmazer.ai or write to us at sales@unmazer.ai or leave a comment.