Retail Business Intelligence (BI) BI As a Service (SaaS) - Silver Lining in Recessionary Times

Retail Business Intelligence (BI) BI As a Service (SaaS) - Silver Lining in Recessionary Times

We have a tendency to are in an exceedingly recession. The recession and its effects are here to remain for a minimum of 2 additional quarters. In most verticals, customers are being cautious with their cash and investments. This suggests that the pie is smaller, which competition for this finite share is more intense.

Things have become so depressing that within the US, some retailers, are merely throwing in the towel instead of file for Chapter 11 Bankruptcy protection and attempting to slog through the recession.

That is essentially what happened to several American retailer's throughout the past several months. With the economy in rougher form than the clearance rack at retailer's stores, many retailers could seriously weigh the merits of this gloomy business strategy within the months to come.

"The reason we have a tendency to're seeing liquidation rather than bankruptcy from therefore many retailers is as a result of individuals are hopeless," Dean Baker, co-director of the Center for Economic and Policy Analysis, recently told Newsweek. "We tend to're still wanting at a very unhealthy year in 2009 and probably most of 2010, therefore it's terribly troublesome to be optimistic about reorganizing and coming out of it stronger."

To be fair, some sectors of the retail business are oversupplied. This is often, after all, a nation that boasted of two million retailers before the recession started, which roughly translates to at least one retailer for every 150 people, according to analysis from Tony Gao, an assistant professor of marketing at Northeastern University.

During times like this, most corporations fall at intervals two categories. There are those that play defensively--cutting staff, cutting prices, concentrating on the best-revenue product lines and customers, and hoping for the dangerous times to go away. Smarter corporations, however, notice that the time when their competitors are hurting could be the foremost opportune moment to go on the offense and gain market share.

The second reasonably company is one that can not solely perform better throughout the recession, but come back out of it as a pacesetter in their market. How will this kind of company go about such strategy?

The primary factor is to aggressively determine areas of improvement, in addition to redefine and strengthen one's positioning. Then, corrective measures should be place in place to both eliminate inefficiencies and exploit untapped potential, aiming for excellence rather than for sufficiency.

Thus during this setting, a pertinent query arises: Can IT best practices and retail-specific technology applications facilitate weather this storm?

The positive impact of this environment is that it is during economic onerous times that smart organizations take a fresh examine the basics of their business. They become more tuned in to their strengths and weaknesses, refocusing their positioning and attempting to raised perceive their vertical. This is as a result of a recession--irrespective of vertical--will not altogether stop sales, but forces corporations to compete harder for the reduced volume. Organizations that do best will not solely withstand the recession, but emerge from it much stronger than their competitors. During this sense, a recession is an chance to realize a competitive advantage in the short and medium term.

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