Opening the door to innovation and competitiveness

José Oliveira, CEO, BI4ALL

2020 was a year of countless challenges for all companies and several of them had to readjust and reorganise their strategy, reduce costs and look at their business models more closely to survive in a scenario never experienced before.

In 2021, company executives work in a scenario of uncertainty, and themselves grappling with the need to be even more resilient, flexible and agile. This year, on the one hand, it exposes the economic consequences of the pandemic, on the other hand, the post-pandemic world will certainly not be the same, and will have customers and employees who changed the habits, trends and patterns they had until the beginning of 2020.

The digital transformation has entered the organizations' dictionary. Those who had already started their journey undoubtedly had an easier path during the pandemic. Those who were not yet at this level had quickly to adapt to a new reality where technology was (and will continue to be) decisive to minimise the impact that the economic downturn will have on the business fabric worldwide.

To remain competitive, companies are focused on finding ways to optimise decision-making.

Therefore, organizations that invest in the adoption of disruptive technologies are now able to operate more efficiently and optimally, improving their processes and increasing their revenue with new products and personalised services.

With Data Analytics and Artificial Intelligence solutions, you can gain valuable insights concerning trends and customer needs, automate processes, identify patterns, reduce costs and manage risks, develop assertive marketing strategies, as well as gain the much-needed agility these days.

The pandemic has changed the way we work but also the consumption with online commerce growing. Remote working has become a preferred model in multiple organizations, which has brought challenges to accessing information and corporate culture, and this model will continue to be a trend this year. Forrester predicts that remote work will increase 300% compared to pre-covid levels, with the hybrid model being preferred. Therefore, it is expected a higher investment in cloud, networks and mobility to gain speed and adaptability. Also, according to Forrester's 2021 forecasts, 30% of companies will not only accelerate this migration but also expand it.

Gartner predicts that by the end of 2023, 40% of organizations will have operated from anywhere and provide enhanced virtual and physical experiences to customers and employees. It is a step ahead of remote working and remote customer service, as it includes added value experiences in collaboration and productivity, secure remote access and state-of-the-art infrastructure.

Another trend for this year is connected to the relationship with the consumer. The companies that stand out the most are those that put the customer at the centre of their operations, and offer personalised products or services, according to their tastes and needs.

Enhanced, differentiating and personalised customer experiences that captivate, engage and retain consumers. It forces companies to place a higher wage on digital channels, to invest in personalisation and to streamline all processes to provide more efficient, assertive and fast responses. With the economic downturn, more moderate consumption is expected and, the consumer will focus on essential goods, products and services that effectively add value and meet the crucial needs.

Therefore, Data Analytics and AI solutions are essential tools to survive in adverse times and, above all, to guarantee a successful future. By having up-to-date data on the market, its audience and its organization, decision-makers can make decisions faster, adjust their strategy and create higher competitive advantages.