We have recently been through one of the most challenging years in recent history. The impact of living through a global pandemic, with the associated shut down of businesses has severely affected many lives.

Yet crises can also spark innovation. The world will never be quite the same, even after the pandemic is brought under control. Life and businesses will go on, but in a vastly different way than before.

One of the most obvious changes is that while it has been challenging to conduct business, teach and learn online, it has become a new norm with a silver lining of benefits. Many employees are happy to continue working from home to save time in traffic, as well as the expense of commuting and parking. Employers are downsizing their physical office spaces if possible, and saving lease costs and utilities.

In an article early in 2021, McKinsey and Company point out some very interesting trends based on Plato’s belief that “necessity is the mother of invention.” These trends include the digitization of just about everything in our working environment, from online customer service, to supply chain reinvention, to the use of artificial intelligence (AI) and machine learning, to general operational workflow.

And there is even more to come, as the U.S. Census Bureau also reported that In the third quarter of 2020 alone, there were more than 1.5 million new business applications in the United States—almost double the figure for the same period in 2019. The McKinsey Global Survey also reported that U.S. productivity in the third quarter of 2020 rose 4.6 percent, following a 10.6 percent increase in the second quarter, which is the largest six-month improvement since 1965.

There is pent up demand in the market right now. People are craving the ability to travel for leisure again, which is supported by the increase in mailings we are now receiving at home from travel companies, to hotels, airlines and vacation destinations. After being stuck in our homes for over a year we are dying to get out and socialize with our family and friends.

Live entertainment will certainly see a great boom. Accessing content on demand is a great perk in the internet age but there is no comparison to hearing a live performance of our favorite band, with the sound of the crowd, the new twists to our favorite songs when performed live and the smell of food in the distance.

Online ordering will not stop and all businesses having a physical presence will need to have an online offering for those customers who prefer to stay home and have their purchases delivered to them. Whether that is grocery stores, restaurants, and any other retail need from clothing, to essential home supplies.

Service is key and companies can differentiate their offerings from the mega online retailers by offering a personal touch to their customers that allows them to easily seek customer support or exchanges when necessary.

Data is critical to all businesses, even more so now than it ever has been. Forbes reports that “over the last few years, data volumes have grown massively. The businesses that leveraged this data to better understand their customers and to improve their decision-making are clearly the ones that are outperforming everyone else.” We don’t have to rely on subjective judgement when in fact we have a massive volume of data to make more informed decisions.

Forbes also reports that the global pandemic was very disruptive to the global supply chains, coupled with trade tensions and increased tariffs between countries. Many companies have transitioned to local sources when possible for the supply of goods that they are selling to their customers.

As companies move forward in an uncertain, yet positive seeming environment, they must always stay ahead of the curve and adapt to current trends. This requires both agility and ability to make changes quickly in order to adapt to the market instead of being left behind.