There is a lot of worry on Wall Street and Main Street these days.
Are we in a mild or severe recession? Is it the next Great Depression?
How long will it last? No one knows the answers to these lofty
questions, but Forrester Research has been busy recalibrating on the
impact the economy is having on IT spending.
First, the good news, IT spending was better in the first half of
this year than expected. The bad news, IT spending is being hit
adversely now and probably into 2009. According to Forrester Research:
“The economy's affect on IT spending is evident in some
specific data points contained in the report: Forty-three percent of
firms have already cut their overall IT budgets in 2008 in reaction to
the slow down in the global economy, while 24 percent of firms have put
discretionary spending on hold. Twenty-eight percent of respondents
said the economy has had no impact on their IT budgets.”
“Forrester: Impact Of Economic Downturn On Tech Spending Varies By Region And Sector”, Forrester Research, September 9, 2008
Even under the best circumstances it’s important to maximize the
value from your BI/DW projects. But with these conditions it becomes
even more of an imperative.
No one can afford to be sloppy or wasteful in their business intelligence and data integration strategies. Cost cutting and getting by with what you have is the norm.
But mistakes are expensive. Businesses, now more than ever, need to
understand who their current and potential customers are as well as how
much revenue and profit each product or service line generates. This
demands current, consistent, clean and comprehensive data.