These are unsettling times, every family and every organization is looking closely at what they spend their money on, and the value they get from these expenses. In order to do this effectively, it all comes down to making sound decisions with the best possible information you can obtain. You wouldn't decide to change anything in your household, such as trading in your SUV for a Volkswagen without understanding all the angles such as financing, gas mileage, capacity, warranty, etc. Hmmm, decisions and information... sounds like a recipe for Business Intelligence!
Every organization is in their own unique way poised to take advantage of better access to information to make sound, informed decisions to guide them in this current market economy. Rather than cutting costs without understanding the long term impacts, use information and analytics to truly understand the cost from all angles (slice & dice). We can also use information to look for new opportunities, such as using this downturn to acquire customers from our competitors by targeting them with advertisements that show the value of the product to them (segmentation & personalization).
This may be the time to consider increasing your company's investments in Business Intelligence technology and people, rather than trimming costs. ROI doesn't stop happening in a down market, get out there and leapfrog your competition!
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