Friday, April 10, 2020
Business Intelligence and Analytics 59
1 How to Optimize Supply Chain Management with Big Data
https://bigdataanalyticsnews.com/optimize-supply-chain-management-with-big-data/
Having big data by itself is of little use unless subjected to proper analytics with defined objectives in focus. Plan adequately for it with superior data systems alongside cloud-based technologies for better collection, storage, analytics, and faster speeds as traditional ERP and SCM systems may not cope.
2 Coronavirus is bringing to light ‘cracks in US infrastructure and supply chain’
https://www.energy-storage.news/news/coronavirus-is-bringing-to-light-cracks-in-us-infrastructure-and-supply-cha
The COVID-19 crisis is bringing into the public eye the US’ dependency on importing goods, particularly batteries for advanced energy storage and electric vehicles, the CEO of a battery materials startup has said.
Dr Francis Wang, head of Nanograf, a US company working to commercialise a high energy density battery anode made with a composite of silicon and ‘curved’ graphene, replacing existing anodes which use graphite, said that the situation created by the novel coronavirus “is bringing to light… cracks in US infrastructure and the supply chain”.
3 How to Make Better Decisions About Coronavirus
https://sloanreview.mit.edu/article/how-to-make-better-decisions-about-coronavirus/
Decision-making becomes most important in times of crisis, and this certainly is one of those times. But it also becomes more challenging, too, during periods of stress and most difficult when future outcomes are uncertain — which describes the current period as well. One reason is because cognitive decision biases are likely to appear in highly changeable, high-stress environments, influencing decisions in damaging ways.
4 A Long Time Until the Economic New Normal
https://sloanreview.mit.edu/article/a-long-time-until-the-economic-new-normal/
We are in the middle of a historic rupture in the economic fabric of our society. The COVID-19 pandemic has already had a pervasive impact on the United States, and economic and financial market experts are hotly debating how quickly the economy will recover once we get “on the other side” of the contagion and the enormous pressures it has placed on our health care system. Although it is too early to estimate the exact economic impact, it is likely that full recovery of economic activity, including GDP growth, jobs, and unemployment, will take at least a year, and likely much longer.
5 Coronavirus putting world on track for new Great Depression, says WTO
https://www.theguardian.com/world/2020/apr/08/coronavirus-putting-world-on-track-for-new-great-depression-says-who
International trade has dried up as a result of the Covid-19 pandemic and could be on course for a collapse as severe as that of the 1930s Great Depression, the World Trade Organization has said.
The Geneva-based WTO, responsible for policing the global trading system, said even the most optimistic scenario for 2020 was that trade would shrink by 13%, a bigger drop than in the 2008-09 recession caused by the banking crisis.
6 What Employees Need to Hear From Leaders in Times of Crisis
https://sloanreview.mit.edu/article/what-employees-need-to-hear-from-leaders-in-times-of-crisis/
Amid the COVID-19 crisis, our professional (and personal) futures feel more uncertain by the hour. Businesses are experiencing unimaginable disruptions, to the point where some are worried about their very survival. Organizations that serve downstream supply chains are no exception. None of us is immune to the current state of our world, our towns, our companies, and our teams — and front-line workers, most at risk in a number of ways, may be even more aware of the uncertainty than their leaders when times get tough.
7 We Will Need All the Automation We Can Get
https://www.informationweek.com/big-data/ai-machine-learning/we-will-need-all-the-automation-we-can-get/a/d-id/1337411
Enterprise automation is not a cause for alarm but a societal imperative. Here’s why.
It’s a prediction that has been made for decades, even centuries. Technology-driven automation is about to trigger mass unemployment. In today’s rendition this means that there will soon be no need for truck drivers, fast food workers, retail store staff, middle managers, and machine operators — even doctors, lawyers, bankers and accountants are at imminent risk. What will we all do?
8 Successful Use Cases of Artificial Intelligence for Businesses
https://www.kdnuggets.com/2020/04/successful-use-cases-ai-business.html
Self-learning and Automation of workflow are not new terms in the professional world. In fact, they are the two most basic advice given to humans by their fellow mates. Learning from our past experiences and the experiences of others and getting the work done in a way that reduces the effort while not compromising with the efficiency have been the key contributors of all major breakthroughs in any field.
9 5 Ways How the Corona Crisis Will Change Organisations
https://datafloq.com/read/5-ways-corona-crisis-will-change-organisations/8178
Humankind is facing the biggest crisis of our generation. Across the globe, economies are coming to a standstill. Globalisation has been put on pause, and once the virus recedes, we will have to get used to the ‘1,5-meter economy’. For social creatures like humans, this social distancing will prove to be difficult.
10 6 Smart Ways to Retain Your Customer Base Amid COVID-19 Outbreak
https://www.business2community.com/small-business/6-smart-ways-to-retain-your-customer-base-amid-covid-19-outbreak-02300577
The recent COVID-19 outbreak has turned the world upside down and has disrupted the way we do business. Business owners are scrambling to keep up with the rapidly changing economy. It’s clear that this pandemic will continue to leave lasting impacts across the digital marketing world. Even though the world is in quarantine and almost everybody is at home, it’s important to keep in touch with your customers or otherwise, you’ll lose them.
11 How to Survive the COVID-19 Pandemic as a Service Business
https://www.business2community.com/strategy/how-to-survive-the-covid-19-pandemic-as-a-service-business-02300608
The last few weeks have turned the world on its head. You may be working from home. Or social distancing with your family or roommates, working on solutions for your business. You might have had to make really hard decisions lately. You may be feeling uneasy or stressed, or lost. In recent weeks, many governments have announced that all non-essential businesses must close. This is heartbreaking for many local business owners, despite the obvious necessity of this measure from a public health perspective. Many businesses had already closed earlier in March to prevent the spread of the virus and to protect their employees and customers.
12 Coronavirus threat to global peace and stability, UN chief warns
https://www.theguardian.com/world/2020/apr/10/coronavirus-threat-to-global-peace-and-stability-un-chief-warns
The head of the United Nations has called the coronavirus pandemic the “fight of a generation” and a threat to world peace and security.
The secretary general, Antonio Guterres, warned the UN security council that the pandemic had the potential to increase social unrest and violence, which would greatly undermine the world’s ability to fight the disease.
It was, he said, the UN’s most grave test since it was founded 75 years ago and had already hindered efforts to resolve international, regional and national conflicts.
13 Storytelling with data.
What is an area graph, how does an area graph work, and what is an area graph good for? —
http://www.storytellingwithdata.com/blog/2020/4/9/what-is-an-area-graph
An area graph is a specialized form of the line graph, where instead of simply connecting our data points with a continuous line, we also fill in the region below that line with a solid color. This might seem to be a minor cosmetic change, but it has a significant effect on how we perceive the data in the chart.
14 WTO sees ‘ugly’ trade plunge, likely worse than financial crisis
https://www.reuters.com/article/us-trade-wto-idUSKBN21Q1VM
The World Trade Organization on Wednesday forecast that goods trade would shrink more steeply this year than in the global financial crisis a decade ago before rebounding in 2021 as the COVID-19 pandemic recedes – if countries worked together.
The WTO said global trade would fall this year by between 13% and 32%, giving a wide range because so much about the economic impact of the health crisis was uncertain.
