Harnessing Big Data for Natural Disaster Recovery

This technical report by Visa Business and Economic Insights discusses the application of big data in assessing and facilitating economic recovery following natural disasters. It outlines how geospatial analysis and anonymized transaction data from VisaNet can provide insights into the economic impacts of events such as wildfires and floods. The report analyzes two specific disasters: Storm Boris in Central Europe and the Eaton and Palisades fires in Los Angeles, California. It details the methodology used to create baseline economic models and visualize changes in consumer spending before, during, and after these disasters. The findings reveal significant variances in the economic impacts of different types of disasters, particularly highlighting that floods have deeper and longer-lasting effects on local economies. The report emphasizes the importance of utilizing big data to better allocate resources and support community resilience during recovery efforts.