So, given all of the challenges we are seeing companies face in today's economic environment, is now the right time to be making technology investments? In a recent webcast, John Haggerty, from AMR Research, spoke about the challenges companies are facing in today's unique economic environment and what they are doing to address those. He also specifically talks about "why investing in business intelligence and performance management makes sense...especially now."
The fact is, especially in challenging times, it becomes increasingly important for organizations to make better business decisions. When times are good and companies are going through high growth, there is a lot more room for error. However, when some companies are struggling just to survive, it is critical that you make the right business decisions across the enterprise - from strategic decisions around where to take the business, to everyday decisions, such as which loans to approve, how to pay out claims, and how to best respond to customer inquiries. You cannot afford to make the wrong bets, and you cannot afford to alienate customers.
And the key to making better business decisions is to have the right information. Have all the relevant information. Have information that is accurate and can be trusted. Have information available when and where it's needed. This is the reason why it is important for companies to make the investments required to establish information as a strategic asset. And the way to accomplish this is to begin creating an Information Agenda for your organization and focus on how you can better use information to address your key business challenges.