BUS610: Business Intelligence and Analytics

Watch this video for a basic case study showing how some simple forecasting can inform the optimal ways for a business to intervene in its strategy as conditions change. For instance, if you are trying to sell sneakers in the Netherlands, how could foreknowledge of the pandemic have helped you plan?

While public health officials have warned that the possibility of such an event was increasing with the rise of globalization, most businesses were probably not prepared for it unless they sold personal protective equipment (PPE). For instance, if you were the owner of a sports footwear company that happened to be the daughter of a high-ranking World Health Organization official, you might have been thinking about a pandemic.

Once it began, you were ready for the rise in outdoor activities as spring turned into summer in the Netherlands, and people were spending more time outdoors as they had time and needed to entertain their kids. The virus is believed to be spread less quickly in areas with good ventilation. Thus, even your older population with little interest in sports may become a new target market. Due to your forecasting ability, you were prepared ahead of your competition to make an intervention in your sports shoe strategy and be the first to serve this space.