Facebook launches new datasets, insights to support small businesses amidst COVID-19

As part of the 'Data for Good' program, Facebook is releasing new datasets and insights that will help researchers, nonprofits and local officials identify which areas and businesses may need the most support.

Facebook has launched new tools to help support the economic recovery of small businesses and communities suffering devastating financial losses due to the ongoing COVID-19 pandemic.

As part of the 'Data for Good' program, Facebook is releasing new datasets and insights that will help researchers, nonprofits and local officials identify which areas and businesses may need the most support.

"These new tools build on the existing range of data products that our Data for Good program offers public health officials to help combat COVID-19 around the world. We hope that researchers and nonprofits can leverage these new insights to help small businesses and communities recover more quickly from the economic effects of the pandemic," Facebook said.

The four datasets include:

• Business Activity Trends

To address the information gaps, Facebook has joined forces with the University of Bristol to aggregate real-time information from Facebook Business Pages to estimate the change in activity among local businesses around the world and how they are responding to local COVID-19 containment policies. This will make it easier for public institutions to better respond to these events.

• Commuting Zones

Facebook Commuting Zones show where people spend most of their time and how this differs from traditional administrative boundaries. They can help identify areas of economic activity and how they recover from crises.

• Economic Insights from the Symptom Survey

Economic insights from the global COVID-19 symptom survey which was launched earlier this year can also help officials understand the pandemic's economic effects. The University of Maryland is releasing new insights about whether people in different occupations are worried about their household finances and having enough food to eat, as well as if they have experienced disruptions in employment.

• New Waves of the Future of Business Survey

Facebook is working with the World Bank and Organisation for Economic Cooperation and Development (OECD) to survey small businesses on Facebook monthly to determine the effects of the global pandemic on their operating status, their employees and their business needs