Launch of IRIS by Beyond Analysis; predicting UK business recovery from Covid-19
Meet IRIS a revolutionary new tool from Beyond Analysis, which uses AI and machine learning to understand the effects of Covid-19 on UK industries and help build recovery across business sectors.
LONDON, May 20, 2020 /PRNewswire-PRWeb/ -- Where should companies reopen first?
Which staff should businesses take off furlough?
How is my industry performing?
Which strategies can businesses investigate to recover most quickly?
The questions every business leader wants answers to right now.
Meet IRIS a revolutionary new tool from Beyond Analysis, which uses AI and machine learning to understand the effects of Covid-19 on UK industries and help build recovery across business sectors. https://www.industryrecoveryindex.com
IRIS predicts future performance of UK industries by Standard Industrial Classification ("SIC") and postcode, to help businesses shape their strategies and perform more effectively in these uncertain times. By enabling companies to understand their own sector and target sectors, the unique technology gives UK businesses the confidence to build their strategies towards recovery.
The experienced data professionals at Beyond Analysis, who have worked with leading retailers, financial services and blue-chip international companies for 20+ years, were developing IRIS using their existing, trusted analytical techniques and data products prior to the pandemic. Understanding the impact of the global crisis on UK businesses, they accelerated the growth of IRIS to support both small and large businesses and help get the economy back on its feet.
The subscription service provides insights into how individual industry sectors have been impacted, across which geographies and maps the health of UK industries using an aggregate macroeconomic index to predict how recovery will be shaped in the future. The product is available to small and large businesses alike, with a range of cost-effective subscriptions starting at £60pm (excl. VAT), providing accessibility for all.
Daily updates in the data sets provide an accurate, scaled, index value from 0-100, to demonstrate how industries are performing and whether they are maintaining recovery (100) or on the verge of collapse (0). The simple, easy to use data visualisation tool can be filtered using keywords to show industry performance, compare information across geographical locations and enables organisations to visualise future trends in the growth of their sector and potential target sectors.
Using a 3 tiered SIC approach, company x can visualise the impact of COVID-19 on its industry and see how growth may change over the coming weeks, months, and year as businesses move out of lockdown. By understanding the impact of other target sectors, company x can approach new customers more effectively, avoid more slowly recovering sectors and use data to drive decisions based on regional recovery in the UK.
"IRIS provides the opportunity to more easily predict and understand risk in this uncertain environment, and manage a business's response accordingly" said Beyond Analysis CEO, Paul Alexander. He continued, "Our aim is to give businesses the confidence to react and adapt to uncertainty, which traditional business decisioning tools and economic models were not designed to deliver."
SOURCE Beyond Analysis
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