The first step when faced with a crisis situation is to assess the impact of the situation on your operation. With that in mind, Dexibit has created a dashboard template including two new visualizations to help you quickly understand how the COVID-19 situation has impacted your venue.
The Master Year on Year Growth visualization (#251) provides a visual representation of a change in the pattern of growth. For venues that are not yet closed, this can provide an indicator to aide assessment of when operating costs may outweigh the benefits of remaining open. For venues that have already closed, it can be used to identify when the decline in visitation began outside of normal seasonal effects.
The COVID-19: Gap from forecast visualization (#252) calculates the gap from forecast during each phase of the crisis. As machine learning makes predictions based on a historic learning set of data and known factors, accuracy or gap from forecast can be used as a proxy to understand the impact of a novel factor. By selecting a forecast prior to the phase of interest, such as late December or early January, the model will not yet have adjusted to the declining visitation and the gap will represent the size of impact.