What managers really need to know -- as always -- is how to separate fads and transitory tendencies from the real and permanent changes. This month's CBR examines the question through the lens of IT spending. Cutter Consortium Senior Consultant George Westerman offers careful analysis of the results of a survey of intended 2004 IT spending patterns among 97 firms. He finds that, overall, IT spending will be flat in 2004. But he does more than report facts. By using clever metrics such as "IT intensity" and noting differences in spending patterns among firms, Westerman provides some satisfying insight into what's really going on. There's still plenty of room for alternative interpretation, but the picture this three-part series paints is compelling.