In every recession, organizations find themselves in uncharted waters — after all, no two recessions or downturns are the same. What worked for Company A during the early 2000’s
recession may or may not work for Company B facing the economic downturn ahead of us today.
What organizations can do, however, is identify the patterns and behaviors of the companies that managed to thrive in challenging economic times. Harvard Business Review conducted a year-long study of nearly 5,000 companies and their behaviors in the periods immediately preceding, during, and after an economic downturn.
While 17% of the companies they studied didn’t survive (for a wide variety of reasons), and the overwhelming majority were unable to regain their pre-recession rate of growth, 9% were able to gain ground and outperform competition.
What Do the Winners Do Differently?
Harvard Business Review’s study effectively found that the key to coming out ahead, during and after a recession, is an adept combination of “defensive” and “offensive” moves. Defensive moves are those that are, perhaps, the most common response to a downturn — spend less and cut costs.
But “offensive” moves?
The companies that fared best in a downturn were those that focused on maximizing what they already had. This approach to improving operational efficiency had the same net effect as reducing headcount or slashing expenses without actually doing those things at the same levels as their competition.
Regardless of economic conditions around us, the reality is we could all use some help in getting more from what we’ve got. The average utilization of a software platform across all industries looks something like this:
Take a moment to let that sink in. What is your company’s annual investment in the Splunk platform? What could it mean to your organization if you could unlock that 50-80% of the platform that you may not be utilizing to the fullest?
The key to your future success will be found in unlocking the underutilized potential of the most amazing security and observability platform available… and creating incredible outcomes in the process.
Want to learn how?
If you want to create incredible outcomes in Splunk that empower you to see more, create more, and save more with the platform, grab our free “Do More with Splunk” ebook (just tap the button below — no email necessary). You’ll learn what a Splunk “Creator” is (and does), and get actionable next steps for accelerating your Splunk journey.