When companies misstep — by rolling out Cheeto-flavored chapstick, say, or lighter-shaped Bic perfume — they’ve usually strayed from their greatest strengths. (Hint: No one’s greatest strength is cheesy chapstick.)
Meanwhile, companies that lean into what they do best often grow, fast. Take Uber: Leadership knew the strength of their rideshare app’s vehicle-tracking and route optimization technologies, and they leveraged both to create the food-delivery app Uber Eats, now worth billions. That kind of institutional self-knowledge often stems from business intelligence products and platforms — tools that transform internal data into strategic insights about what’s currently working for a company and what could work in the future.
Author: Mae Rice