Yet more evidence has emerged to prove that the recession may have actually had a positive effect on firms - forcing them to integrate and improve management performance processes and recognise the benefits of Business Intelligence (BI) tools.
The second annual Oracle Enterprise Performance Management (EPM) Index used interviews with 800 business decision makers in Europe and North America to assess the quality of their processes and the accuracy of their information.
By some wizardry, the bods at Oracle then formulated each organisation's index rating, and found that as a whole, they have gotten a 38 per cent higher score.
Now what this actually means, says Oracle, is that over the past year these firms have noted improvements in their strategic planning and reporting processes, focused more on customer loyalty to drive growth, and acknowledged the importance of BI as a key reporting tool.
According to Oracle vice president, Frank Buytendijk, the findings show that businesses are now a lot more confident that they can handle "the new reality of today's economy".
"The improved Index doesn't as much signal any material advances, but this rediscovered confidence creates the preconditions for real improvement to take place," he added.
"Comparing it to a rise in consumer confidence preceding a spending increase, this increase in performance confidence will precede new projects and improved ways of working."
So you see, recessions aren't all that bad after all.
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