Analytics is increasingly important given the shift in what customers want, their changing buying behavior, and imposed limitations on how businesses are run.
Before, analytics was of importance only to the big retail giants. Now, partly to avoid exposure to Covid, more people are leaving corporate jobs to start their own businesses. As one Washington Post headline reads, “American’s unemployed are sending a message: They’ll go back to work when they feel safe – and well-compensated” (https://www.washingtonpost.com/business/2021/10/08/september-jobs-report-takeaway/).
More customers are turning to different service methods to avoid getting sick or dealing with new rules for being in public. Managers balance the shortage of employees with the demands of customers. This requires executives to rethink their culture. They face a choice between trying to conduct business as usual with a few (or many) modifications or expanding into a new marketplace. Adaptations to curbside pickup, service over the phone, precautionary measures, and keeping up with local regulations are challenging and necessary.
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Before the pandemic, I was consulting a publishing company focused on retaining talent. There was clarity among leadership that most jobs paid the same across the board in the various publishing roles. The trick was figuring out how to hold onto their staff, who could easily quit and join a different publishing company. The hands-down choice was for this company to focus on how their people are treated and valued.