Covid-19 Will Continue to Push for a More Data-Driven Society

Covid-19 has actually been beneficial to certain disruptive technological advances that are thriving amid social distancing measures. One of those areas is the heavier use of data, which will, in turn, should push for more skills to further a data-driven society.

“Analytics and automation are absolutely key to successful digital transformation for businesses of all sizes,” an IT Pro Portal article stated. “And with the global pandemic accelerating the need for robust transformation strategies, now is the time to act. The divide between those companies that are analytically mature and those that aren’t will only become more pronounced in the near future, and it’s up to you whether you get left behind.”

“One of the biggest challenges of digital transformation is in turning your workforce into highly productive data analytic workers,” the article added further. “A focus on people is essential to success, as is infusing a culture of analytics across your organization. We recognize the importance of amplifying human intelligence to get the best from data analytics and the focus on human-centered design that makes data analytics accessible to everyone, something which is more important now than ever before.”

Data-Driven ETFs to Consider

A fund to get exposure to disruption via data-driven technology is Goldman Sachs Motif Data-Driven World ETF (GDAT). The fund seeks to provide investment results that closely correspond to the performance of the Motif Data-Driven World Index, which is designed to deliver exposure to companies with common equity securities listed on exchanges in certain developed markets that may benefit from the on-going rapid increase in electronically recorded data in the world and its impact on the lifecycle of data delivery and processing.

GDAT essentially provides exposure to the beneficiaries of technological innovation, regardless of sector, geography, or market capitalization. They can be used individually or collectively to help investors position their portfolios for the future.

Another fund to consider is the SPDR S&P Kensho New Economies Composite ETF (KOMP). KOMP seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Kensho New Economies Composite Index.

Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to capture companies whose products and services are driving innovation and transforming the global economy through the use of existing and emerging technologies, and rapid developments in robotics, automation, artificial intelligence, connectedness, and processing power.

For more market trends, visit ETF Trends.