Now What? Comparing the 2008 Recession with the COVID-19 Crisis

COVID-19 Crisis

Now What? Comparing the 2008 Recession with the COVID-19 Crisis

We’re in a state of global emergency never before seen on this planet. People across the world are locked down at home, a novel virus continues taking lives and infecting new victims, and our economies are devastated. There seems to be a glimmer of light at the end of the tunnel in some countries, however, as new cases and deaths are dropping.  While it may be hasty, many are already looking ahead towards re-opening and picking up the pieces of our shattered financial reality. And it’s not looking pretty. Essentially all restaurants, bars, and places of socializing are shuttered. Almost all shops selling consumer goods, aside from groceries, are closed (some northern European countries have reopened non-essential services). Demand has all but disappeared; people aren’t…

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9 Tips for Food Service Management in the COVID-19 Era

Food Industry

9 Tips for Food Service Management in the COVID-19 Era

We are witnessing dramatic changes in the food and restaurant industry creating a new ‘norm’ overnight. Coronavirus confinement means consumers are taking advantage of delivery and takeaway options, and benefiting from the obvious time/cost savings.  We have no idea when restaurants will be opening, but after at least 2-4 months of eating at home, families are already finding that cooking together is not just a safer option, but also fun. With the convenience of delivery, the pleasure of home cooked meals and fears of second wave infection, it will likely take some time before people are eating out again. Due to these changes the industry will naturally become more cost effective, develop better controls over inventory and production, and will improve food tracking. Overall, keeping…

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Future Proof?- Predictive Analytics in Action

Prediction

Future Proof? – Predictive Analytics in Action

Automation of most business processes is now the norm across major industries. Mountains of data are being created and collected for further analysis daily, uncovering hidden trends, correlations and opportunities. Users are discovering new horizons of data analytics, and one of the most exciting applications is predictive analytics.  The benefits are of course quite obvious: Any company, organization or individual can now make complex decisions based on reliable predictions, for a minute from now or years down the road. Being able to foresee coming trends and events, to either capitalize on or avoid, can save you money, earn you money and give you a sizable competitive advantage. And the business world has taken notice: A 2018 Zion Market Research report indicates that the global predictive…

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Comparison: perceived vs. true spread of COVID-19

Correlation

Comparison: Perceived vs. True Spread of COVID-19

Here at Dyntell, we’re building a large time series database with the primary aim of benefitting society through access to data. In this post, we’ll study different time series representing both the true and the perceived spread of the coronavirus (COVID-19) pandemic. Daily COVID-19 numbers are currently available on TimeNet.cloud for many countries. We’re expanding these datasets with further variables measuring how we (people) perceive the significance of the pandemic. We use stock market movements and internet search trends to quantify the virus’s perceived spread.   Data Science and its role in fighting COVID-19 The current crisis is a great challenge for humanity—there is no arguing this. Since no vaccine is available and the incubation period can last as long as two weeks, it’s difficult…

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