Using Business Intelligence to Beat Recession 

 

 

Smart Software

Making good decisions in a recession is rough even for the most experienced executives. As the economy sours, it can be difficult to distinguish between a temporary blip in the business and a worsening trend that merits serious attention.

But CEOs can adapt more swiftly by using what's known as business intelligence software to analyze data that are readily available but may be hard to sift through. For instance, Carnival Cruise Lines is using that information to identify customers who might like to go on a cruise despite the downturn. MetLife is collecting and analyzing information to clamp down on the rising tide of fraudulent insurance claims. Others are using this intelligence to squeeze costs out of their businesses.

 

 

Wyeth

Using data gleaned from business intelligence software, Wyeth is able to see demand for its products on a country-by-country basis and shift inventory to where it's needed. In the month leading up to the European launch of a treatment for rheumatoid arthritis and psoriatic arthritis, the company foresaw forecasted demand triple. The company's plants were able to respond successfully to the increased demand. Jeffrey B. Kindler, CEO of Pfizer and Bernard Poussot, CEO of Wyeth are shown here at a Jan. 26 news conference discussing the planned merger of their companies.

 

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