Friday, May 15, 2020
Business Intelligence and Analytics 64
1 Is the COVID-19 Outbreak a Black Swan or the New Normal?
https://sloanreview.mit.edu/article/is-the-covid-19-outbreak-a-black-swan-or-the-new-normal/
Economic resilience in the face of black swans requires companies to do things differently. Our current economic model is based on pursuing efficiency: Find the quickest and cheapest way to do or make something, and you likely have a time or cost advantage. But global supply chains that optimize for centralization and reduced costs have serious potential weaknesses.
2 How to build data architecture to drive innovation
https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/sales-automation-the-key-to-boosting-revenue-and-reducing-costs
Sales automation holds the potential to reduce the cost of sales by freeing up time spent on administration and reporting and to unlock additional revenue by automating outreach to customers in the sales funnel. But many decision makers are not aware—or have not taken advantage—of the value that sales automation can create across a growing range of use cases.
3 Crushing coronavirus economic uncertainty
https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/crushing-coronavirus-uncertainty-the-big-unlock-for-our-economies
There are three main paths forward that leaders around the world are exploring:
Balancing act. This path involves a staged reopening of the economy, controlling the virus spread within the capacity of the healthcare system.
Near-zero virus. This path means opening the economy while imposing virus-control measures that stop short of a lockdown; these appear to be effective in preventing virus spread.
Transition act. This path involves switching from a balancing-act path to a near-zero-virus path by implementing elements of near-zero-virus packages as soon as they are ready.
4 How coronavirus is reshaping Europe in dangerous ways
https://www.theguardian.com/world/2020/may/14/how-coronavirus-is-reshaping-europe-in-dangerous-ways
We are still in the early chapters of the Covid-19 story and it’s too soon to judge the full impact of the pandemic. But one can tentatively discern six negative trends for Europe. These had all emerged before the virus struck but are now accelerating. In various ways they are all likely to help the cause of anti-EU populists: greater economic autarky, stronger borders and more hostility to green policies.
5 Taiwan’s TSMC to build Arizona chip plant as U.S.-China tech rivalry escalates
https://www.reuters.com/article/us-usa-semiconductors-tsmc-idUSKBN22Q38T
Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), the biggest contract chipmaker, said it plans to build a $12 billion factory in Arizona in an apparent win for the Trump administration’s efforts to wrestle global tech supply chains back from China.
The plan, which will create over 1,600 jobs, comes as U.S. President Donald Trump steps up criticism of Chinese trade practices and Beijing’s handling of the novel coronavirus ahead of the Nov. 3 U.S. presidential election.
6 U.S. moves to cut Huawei off from global chip suppliers
https://www.reuters.com/article/us-usa-huawei-tech-exclusive-idUSKBN22R1KC
The Trump administration on Friday moved to block shipments of semiconductors to Huawei Technologies from global chipmakers, in an action that could ramp up tensions with China.
7 Customer Churn Prediction: A Global Performance Study
https://www.kdnuggets.com/2020/05/customer-churn-prediction-global-performance-study.html
Customer retention is one of the major challenges in any industry. Many firms realize that their existing customers are their most valuable asset, and it is more beneficial to keep and satisfy existing customers than to acquire new customers. Several studies such as the research done by Frederick Reichheld of Bain & Company (the inventor of the net promoter score) suggests that increasing customer retention rates by 5% increases profits by 25% to 95%.
8 6 Negotiating Tactics for Fast Growth-Minded Businesses
https://www.business2community.com/strategy/6-negotiating-tactics-for-fast-growth-minded-businesses-02310664
In business, it would be difficult if not impossible to achieve a notable measure of success without having inked a significant number of agreements with other parties—most appreciably with conflicts inherent in the process having been pleasingly overcome for all involved. Whether negotiating a sale with an existing customer or prospective new account, contracts with vendors, deals with company and industry stakeholders, a M&A situation, the salary of a new hire or any other, negotiating is a fundamental driver of a company’s prosperity.
9 Online Marketing Strategies During COVID-19
https://www.business2community.com/online-marketing/online-marketing-strategies-during-covid-19-02310876
The COVID-19 pandemic has disrupted a lot of things, and it’s had a profound impact on online marketing. While more people than ever before are turning to the internet in the wake of social distancing, those people are concerned about their finances and future and aren’t spending as much. You have a bigger audience to reach and interact with, but it’s going to be harder to convince them to connect and part with their money.
10 Why AI Is the Answer to Oil Spills
https://insidebigdata.com/2020/05/15/why-ai-is-the-answer-to-oil-spills/
Artificial intelligence is becoming an increasingly common part of business across many industries. You’ve likely heard of AI’s potential in areas like factory automation and data analysis, but it doesn’t end there. It may be the solution to preventing and responding to disasters like oil spills.
