COVID-19 is impacting businesses, communities, and governments and actively changing the way we perceive emergency management—reinforcing how critical it is to have emergency management strategies and protocols in place.
Emergency management refers to responding to emergencies that can occur anytime. For example, a natural disaster as a result of climate change, or a synthetic disaster like cyberattacks, or civil disorder.
According to a recent study, global economic losses can amount to upwards of USD 300 billion annually. An annual investment of USD 6 billion in disaster risk management strategies would generate upwards of USD 360 billion in risk reduction.
Businesses need to be prepared for emergency situations to avoid economic downfall or drastic workflow interruption. Analytics-based strategies assist organizations with emergency management by:
- Tracking and analyzing real-time data to help monitor emerging critical scenarios
- Developing accurate solutions for emergency management
- Leveraging machine learning to classify and make predictions
- Mining cloud data for emergency management support
Data and analytics are essential to making accurate, valuable, and crucial decisions during times of crisis so that people can react to emergency situations with confidence and develop ongoing successful emergency management strategies.
Reducing Risk With Emergency Management and Analytics
Data and analytics strategies are vital in emergency management situations, such as preparation, mitigation, and response and recovery, to ensure business leaders have the evidence-based data to make informed decisions and position their business to withstand the unforeseen.
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Before a hypothetical emergency event, the emergency management process mainly includes performing a risk assessment, developing a monitoring plan and early warning system, and creating guidelines for emergency prevention and preparation. As the event is in process, it includes:
- Rapid decision-making based on information on the ground
- Coordinating and communicating between response teams
- Delivering clear commands
After the emergency event, emergency management requires restoration and reconstruction and an investigation into root causes and the effectiveness of the response. The ultimate goal is to learn from any mistakes to correct any flaws in the existing plan.
Data and analytics help to fill the gaps where existing emergency management systems are lacking and need support. From detecting early warning signs and mitigating risks to assisting with emergency aid, data and analytics can provide numerous benefits to strengthen emergency management effectiveness.
Analytics can help in a variety of capacities for emergency response:
- Emergency response-related data can be tracked, as demonstrated with the COVID-19 response in which hospital data is tracked to manage capacity and the availability of testing kits or protective equipment
- By reducing business and infrastructure risk through analyzing and visualizing risks with real-time data
- Emergency responders can benefit from analytics, such as real-time streaming data, to prepare for emergency situations and ensure they can protect and serve
- Analytics can support health institutions and government agencies reduce transmission, for example, in the case of COVID-19, or to help provide essential economic services
Accurate data is incredibly important in assisting business leaders, first responders, healthcare professionals, and essential workers to perform their jobs. Furthermore, all data from emergency scenarios can be leveraged to help future planning and preparedness for upcoming disasters.
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Support Preparedness and Continuity With Emergency Management
Emergency situations can occur at any time. Businesses need the capabilities and strategies to support their business continuity, ensure preparedness under uncertain times, and remain responsive in the face of disruption.
Learn how to further your data and analytics career with Data Analytics Program that teaches you the necessary skills to adapt to emergency events and keep your business prepared and productive at all times moving into the future.