European organizations are moving through three phases on the road to economic recovery — crisis response, resilient adaptation, and reignition (the 3R model). Better use of data, analytics, artificial intelligence, and machine learning is critical to complete this journey and can help organizations ensure they have the platform they need to deal with future business uncertainty, become more innovative and data driven, and maximize business opportunities in a digital-first world.
"For many organizations, the need to adapt to a new business environment requires investment in business analytics and an accelerated migration to the cloud. One high-level trend is that organizations taking a strategic approach to adopting cloud-based business analytics are outperforming those companies that are not doing so in key metrics. The COVID-19 crisis has shown that improving operational efficiency through data, analytics, AI, and machine learning is more effective during market turmoil than traditional cost-cutting measures." — Senior Research Analyst Wiktor Markiewicz, IDC Europe.