In the grip of the virus
Corona has a firm grip on all of us, whether we are restricted in our personal liberty rights, have to reconcile children, partner and job in the home office, are affected by short-time work or, in the worst case, have lost our job. All this in a situation that changes, sometimes on an hourly basis. But not only we as individuals or as a society as a whole are massively affected. Companies/organisations are particularly exposed to the uncertainties. All our social lives and working environments have been completely turned upside down.
Whether and how a previously successful business model will continue to support a company in the future depends on many interrelated factors. For this reason, it is only possible to a very limited extent to draw conclusions about the short-, medium- and long-term effects for the company, the employees and all other stakeholders from the individual consideration of a factor, such as the period of time during which everyone's life is massively restricted.
But how can companies deal with this situation?
Unlike private individuals, companies have instruments at their disposal that allow a more valid assessment of the current situation and its effects. Especially when Business Intelligence or Data Analytics is used, the various factors and their dependencies can be incorporated into models which, with the help of external data, allow the current situation of a company to be assessed and various probable scenarios/forecasts to be made for the immediate as well as for the medium to long-term future.
Integrated value driver models are particularly suitable here, which can show the effects of influencing factors on the income statement, the balance sheet and, above all, on cash flow. Because especially in times of crisis, the motto "Cash is King" applies. Securing liquidity has top priority.
The Cubeware Solutions Platform is an application-enabling business intelligence, performance and data analytics software that can be used to create these applications or adapt existing models to the current crisis situation. Modules such as Cubeware Advance and its artificial intelligence capabilities can be used to create or adapt models so that valid predictive forecasts can be made even in these dynamic times.
They can provide information about the likely economic situation and especially about liquidity. Above all, such predictive scenarios keep companies capable of taking action by showing decision makers alternative courses of action that can be critically reviewed in a further step using the Cubeware Solutions Platform.
We as a society are jointly facing an unprecedented challenge. This makes it all the more important to keep a cool head and remain capable of action. With this in mind: stay healthy, make the most of your opportunities as a company and proceed according to plan!
More than ever, you'll benefit from the Cubeware Solutions Platform - Analysis, Reporting, Planning and Advanced Analytics.