Analyze the crash – InformationWeek: Top 10 CIO Priorities for 2011
In Bob Evans InformationWeek article on top CIO priorities for 2011, I couldn’t help but notice #1:
1. Seeing and Shaping The Future: The Power Of Analytics
BI is not just about tools, its about mining data to make educated guesses on the future. So, to that, how many companies have now gone back, some 2+ years later, and analyzed the data not just leading up to the crash, but the recovery after? Were there any key indicators in your market segments early in 2007/08? Have you looked at your CRM interactions and notes looking for things that “pop out” during this time frame? What tools were missing in your sales and service force at that time, that did not allow you to react faster to the crash, or even before it? How were you positioned after the crash and throughout the recovery?
All of these questions can quickly be answered, and a new data model created to trap for this anomoly in the future. These models should become a piece of your BI analytics of today. Although the recession has (mostly) passed us, that doesn’t mean it will never happen again. And when it does, will your company be able to see it coming, and more importantly, have the tool set and information necessary to counteract it?