With continuing technological innovation and the capacity to store unfathomable amounts of data (especially in the cloud), many enterprises are sitting on a gold mine of customer and market intelligence. Surprisingly, however, many have not even begun to realize the latent value of these IT artifacts, nor have they discovered how to use this data to their advantage. Here again is where technology -- specifically, sophisticated analytic tools -- can have a decided business impact in 2013. Companies that are able to aggregate that data and mine it for legitimate business purposes will establish a substantial lead over their competitors. This is where the most potential for business value can be realized in the coming year.
Boosting profit margins
Although raising prices can have a positive effect on profit margins, it carries with it the risk of losing loyal customers. As a result, companies often see more benefit by focusing on reducing expenses. One way is by driving operational efficiencies, especially in IT.
This is not a new concept for IT, which has been tasked to "do more with less" for years. What is new is IT's ability to take advantage of recent advances in cloud technology. By leveraging any number of unique cloud deployment models, companies can get the raw processing power and storage capacity they need to support their growing businesses -- without incurring the expense of building out and managing their own data centers and associated infrastructure.