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| Survey: Majority of Québec Executives Overwhelmed by Information |
July 30, 2008 |
Poll also shows shortage of qualified staff, operating costs, and government taxes and regulations have potential to threaten Québec business prosperity
MONTREAL, July 30 /CNW Telbec/ - Themajority (59%) of Québec executives say the amount of information they have overwhelms them, 78% believe their staff could share information more effectively, and 72% say that they could make more informed business decisions if they had the right tools in place to analyze information more effectively. These are just some of the findings of a recent Québec-based SAS / Léger Marketing survey released today. The survey also reveals that while 94% of Québec executives believe it is important to have access to information and data to make better informed business decisions, only a scant one in 10 say the information they get about their department or business performance is always accurate and timely; only one quarter (25%) of respondents feel 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, 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. This poll suggests that Québec executives understand that business intelligence is a key to business success."
Business Intelligence in the Workplace
With the amount of information available in the workplace growing at a rapid pace, the survey also indicates most Québec executives (76%) believe that having competitive or business intelligence is essential for the success of their business. Yet somewhat surprisingly, less than half (49%) responded that their business currently uses business intelligence software to analyze their data.
In addition:
- Two-thirds (66%) of the executives surveyed say their company could operate smarter with business intelligence tools.
- Over half (56%) indicate that it is the CEO who currently possesses the most business intelligence information.
- Marketing and public relations departments came out on top as having the most need for business intelligence information (21%), followed by sales (17%), and customer service (15%).
- Surprisingly, only one in 10 respondents believe their finance and operations/ manufacturing departments rely most on business
intelligence.
"The key to business success is giving everyone access to timely and actionable information," says Mario Ianniciello, director of eastern region, SAS Canada. "Many executives view business intelligence as only a marketing tool. In fact, a tremendous amount of return on investment happens when finance and operations use business intelligence tools to analyze data and make more effective business decisions. Information is a money maker in this knowledge-based economy."
What Keeps Québec Executives up at Night?
The survey also revealed some big barriers facing Québec businesses.
- The majority (54%) of Québec executives believe the biggest threat to the future of business in Québec is finding qualified staff, followed by labour & manufacturing costs (29%), and government regulations & taxes (29%).
- One-in five believe the rising Canadian dollar and foreign acquisitions of Québec businesses are the biggest threats to the future of Québec business.
- Workplace productivity is cited as the most important business issue for 36% of Québec executives, followed by controlling operational costs (33%), and providing a return on investment (27%).
- One-in-four believe customer satisfaction and government regulations to be the most important business issues facing their organization. Another 16% view globalization/ competition from outside Québec to be the biggest threat. Multiple answers were allowed.
- Most executives (63%) believe their company obtains its competitive advantage through the quality of their product or service.
- Surprisingly, only 14% cite information technology as playing a key role in driving competitive advantage.
"Globalization is creating new competitive pressures," explains Ouellet.
"In this day and age, companies must innovate as rapidly anduse information as efficiently as their competition just to stay in the race. Ultimately, organizations need to use business analytics for true insight and forecasting - it will be those companies that know where their business is going versus just knowing what has happened that will come out on top." Ianniciello agrees. "Québec companies need to leverage the data that is available both within and outside their organizations because the competition certainly will. Without the ability to leverage information more effectively, they may hit a brick wall when they try to overcome key business issues."
About the Survey
The online survey was conducted for SAS Canada by Leger Marketing, between May 23 and June 2, 2008. With a representative sample of 374 Québec senior-level business decision makers, the executive survey is considered accurate within +/- 5.0 per cent, 19 times out of 20.
About SAS
SAS is the leader in business intelligence and analytical software and services. Customers at 44,000 sites use SAS software to improve performance through insight from data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products and processes. Only SAS offers leading data integration, storage, analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world THE POWER TO KNOW(R). www.sas.com
The Canadian subsidiary of SAS has been in operation for 20 years. Headquartered in Toronto, SAS employs more than 200 people across the country at its Vancouver, Calgary, Toronto, Ottawa, Québec City, and Montréal offices. For more information, visit www.sas.com/canada.
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. (R) indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright (C) 2008 SAS Institute Inc. All rights reserved.
For further information: Simon Falardeau, Capital-Image, (514) 739-1188, poste 231, sfalardeau@capital-image.com; Visit the SAS Press Center: www.sas.com/presscenter; SAS Canada Inc., (416) 363-4424, Fax: (416) 363-5399, www.sas.com/canada
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