Information, data important for business decisions but not always accurate or timely
More than one-half of executives in Quebec say the amount of information they have overwhelms them and three-quarters believe their staff could share information more effectively. A survey by Leger Marketing also finds that while 94 per cent of executives believe it is important to have access to information and data to make better-informed business decisions, only one in 10 say the information they receive about their department or business performance is always accurate and timely. And only one-quarter say the information they receive is always useful.
“In today’s digital age, it is timely information, not time, that is money,” says Jean-François Ouellet, marketing professor at HEC Montreal. “Because so much data is now available, companies that master turning data into useful business information will have a definite advantage over those that don’t.”
Quebec executives also believe the biggest threat to the future of business in the province is finding qualified staff (54 per cent), followed by labour and manufacturing costs (29 per cent) and government regulations and taxes (29 per cent).
In addition, workplace productivity is the most important issue for more than one-third (36 per cent) of executives, followed by controlling operational costs (33 per cent) and providing a return on investment (27 per cent).
The online survey of 374 senior-level business decision-makers in Quebec was done for SAS Canada, a provider of business intelligence and analytical software, and conducted in May and June 2008.