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See related article and video: BI bonanza – a slam dunk for Monster Canada

With the economy in a free fall, it's more important than ever for companies to zero in on customer needs and adjust their corporate strategy to meet these.

Often, though, that's easier said than done.

For online career site, Monster Canada, for instance, tailoring its services to the varied needs of a broad and diverse clientele – comprising employers and job seekers – was quite a challenge.

It's one the Montreal-based firm successfully addressed using analytics software – specifically business intelligence tools from Cary, N.C.-based SAS Institute.

Applications such as SAS Customer Intelligence and SAS Analytics helped Monster gain pertinent and valuable information about its customers, company executives say.

This data has enabled the firm to boost sales and marketing efficiency, as well as customer retention, according to Jean-Paul Isson, director of business intelligence at Monster Canada.

Isson said his company rolled out these analytics tools four years ago to better understand the composition of its customer base. A key goal was to create better sales pitches for high-value or niche customers.

The initiative uncovered some interesting data.

Monster was able to identify "high-opportunity customers" – the select group of clients who accounted for the bulk of the firm's profits.

This intelligence has helped Monster to improve cross-selling and up-selling by 40 per cent, Isson said.

The firm, he said, has built a benchmark tool that lets employers see how their online job posting is performing online compared to a similar posting.