As 2009 begins we are entering a time of change. From the uncertainties of a recession and falling exchange rates to a new President in the White House it will, without doubt, be a tumultuous year.
For businesses, 2009 will be year that makes us. It is the wake up call we have needed after enjoying the times of plenty and a swift reminder that the ‘economy can go up, as well as down’ (speak with any financial adviser and these will be one of the first lines they speak when talking about investments). Our businesses are our investments, from the hard work our staff give on a daily basis to the technologies we work with, we need to keep an eye on them and nurture them – data, information and they way it is analysed is key to a successful investment.

Agile companies will be those that succeed – the ones that can shift their businesses rapidly to take account of changing circumstances, new developments and trends – but to make the decisions required to be flexible businesses need information. Acting on a hunch may work for loveable /rogue television detectives but in the World of business it’s worth backing up your hunch with a bit of real World information and analytics.
We live in a World where data is king – Google ‘index the World’, the big supermarkets send us customised magazines with content and offers specific to our buying habits, and we are entering an age where we have the World’s information in our pocket with devices such as Apple’s iPhone. These are changing our buying habits and forcing retailers to think differently, December saw the demise of several large chains that couldn’t adapt, but with all the information they had to hand should it have been so?
As agile businesses there is no need to let this happen – use the information to hand, collect more when/where possible and act before it is too late. Accounts and sales figures are information businesses are used to having, a list of customers and their contact details is a luxury for some. The costs are low to collect and analyse business data with today’s technology and an investment should be made in these tools. They will help businesses prosper and thrive. Now is not the time to scrimp and save on these invaluable tools.
Every business has a variety of data they can collect and analyse. This can help build the bank of information on hand to influence critical business decisions. The difficult part is working out which is useful and worth spending time on.
Big businesses collect huge amounts of data – used to influence their ordering (you should see more cold drinks on a hot day in supermarkets because they tie in their ordering with weather forecasts), or send you specific offers and deals. Smaller businesses can make similar gains with the host of tools already available and the information they can collect and make available. Don’t think that this doesn’t apply to your business/industry – you may already be making use of the information you have, but there is always more that can be collated and acted upon – those businesses that see this and take the opportunities will be the ones that emerge from 2009 bigger and better.
2009 will be the year where Darwin’s ’survival of the fittest’ will be played out in front of us.