Survey: Majority of Québec Executives Overwhelmed by Information

Poll also shows shortage of qualified staff, operating costs, and government taxes and regulations have potential to threaten Québec business prosperity

Montréal  (30 July 2008)  –  The majority (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 and use 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

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