CBS needs a strategy for what to do about its demographic problem of an aging audience. Maybe that means phasing out the old-skewing shows and phasing in some new, younger skewing shows, and if so, what kind of shows, and how will they compete with broadcast networks and with cable, and how fast will the phase in-phase out occurr? Those are just a few of the questions CBS needs to address.
Cancelling or keeping this or that show is just a tactic. Businesses need to operate on a higher level than just reacting to data, and they need to plan for more than just the current season.
I keep an eye on the business press where Moonves' strategy would be reported, and I've yet to see any indication that there is a strategy other than business as usual. So when business as usual no longer works, then it lights a fire under some asses to come up with somethng that will.