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When Hurricane Harvey struck southeast Texas in 2017, it caused $125 billion in economic damages.
Since 2017 theres been an average of17.8 weather/climate disaster events per yearin the US alone.
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Yet, many still dont have clear strategies and risk analyses in place to guide decision-making.
Geospatial analysis is key to unlocking the potential of climate data.
An EYstudyfound that only 41% of organizations conduct scenario analysis of climate-related risks.
Were sitting on this mountain of information, yet were only looking at the tip of the iceberg.
Having efficient machine learning models can help optimize their operations to maximize profit while maintaining a particular climate target.
Map out the potential risks across your business operations.
This is all covered by geospatial analytics.
How can those sites be prepared to withstand the impact?
How will investments be allocated?
They will become key to enabling businesses to function, operate, and even grow.
The next step is to consider the potential opportunities.
How might changing your sourcing/production/distribution strategies lower your risk for climate change disruptions and boost your bottom line?
How might these changes also contribute to your companys longer-termsustainabilitystrategies?
Story byMarris Adikwu
Marris Adikwu is a freelance writer with a passion for internet culture.
Her work has been published in Glamour Magazine, New York Magazine, Eater, and more.
In her free time, she writes short stories.
