If it walks, talks and looks like a recession then it’s probably not a duck, regardless of whether it’s “official” or not. But a poor economy doesn’t have to be synonymous with a leveling or postponement of IT innovation; wise CEOs and CIOs find ways to continue to innovate. While there may be less money, remaining dollars are more likely to be put toward R&D and IT than any other discipline. Even in earlier economicdownturns, IT innovation was not brought to a screeching halt. Instead, players who weathered the storm were forced to get creative and in some industry segments, innovation reached new heights, as was the case in the early part of this decade. At the time, IDC research director Stephen Minton said: “In a funny kind of way, a downturn is the best thing that can happen to innovation" (e-commerce Times, “The Technology Innovation Squeeze,” 6/12/02). While it can feel contradictory when budgets are tight, now is a prime opportunity to innovate.

Officially defined as the “process of making changes” or “a new method,” innovation can be the prime catalyst for successfully weathering a downturn. And it doesn’t require new technology, but often just a more acute focus on what you have – innovating through revised budgeting or business processes, or new applications. One idea for innovating in the short-term with long-term cost savings is the more efficient use and management of your data, which regardless of the economic climate is the “lifeblood” of every business.

Check Your Back Pockets
You don’t necessarily have to pull out the checkbook and start making big technology purchases because you may already have much of what you need in your existing infrastructure to start innovating today. Before investing in new technologies and applications, or deciding instead to “wait out” the downturn for better times, CIO’s have to take a long hard look at what they’ve got. Small, innovative changes in process or use of existing technology that can improve overall costs, reduce overhead and improve efficiency need to be closely examined. A downturn is a prime opportunity to show off what IT can do. In times like this, resources should be directed to “drive revenue” or otherwise “delight your customers" (George F. Franks III, Franks Consulting Group, “Your Business Can Thrive During an Economic Downturn,” 2/7/08).

Often you will have technologies in-house that may need re-deploying on other projects. Stretching investments and pushing the limits of what you have is absolutely a form of innovation. It might also follow that you can invest in a technology that helps you take further advantage of what you have – it’s like investing in a new motor for your old Honda. Would it make your Honda handle like a Jaguar? Perhaps not, but you will get more mileage and save money in the long run. This is non-technically known as “more bang for your buck.”

The Customer is (Still) King
This one never changes. No matter the business or the economic climate – the customer comes first. To look at better ways to serve your customer, whoever that might be, start by looking at the data you have and whether it’s used to full advantage. The “customer” is the end user or beneficiary of that data, whether they exist inside or outside the organization.

Real-time information is a driver for business innovation. Getting the right information to the right users at the right time can yield tremendous benefits for the business. The end-user community is often challenged by not having easy access to the most relevant information in order to make the best decision. In many cases, this

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