In real life managers dont do as much number crunching as they think In fact managers are primarily idea crunchers They spend most of their time trying to persuade people with their assertions but they rarely realize the extent to which their assertions rest on unproved assumptions ID: 253078
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Slide1
Our Industry is Changing – What’s Going On?
"In real life, managers don't do as much number crunching as they think. In fact, managers are primarily idea crunchers: They spend most of their time trying to persuade people with their assertions but they rarely realize the extent to which their assertions rest on unproved assumptions”
says Victor McGee, professor ,Tuck School of Business. Slide2
Anchor decisions in good data.
Anchoring - People process information based on previous context.
Dr. Dennis Folds, Georgia Tech, funded by The Army Research Institute
Credible & Unbiased
Will
the source tell you what you want to hear, what they want you to
hear Is the input being provided for the benefit of the source or the benefit of the enterprise?
Statistics Canada - Monthly
Retail Trade Survey
Data is collected for all units of the target population; therefore, no sampling is done. Responding to this survey is mandatory. A 100% response rate is attained; therefore imputation is not necessary.Slide3
Apparent Domestic
Market, Imports, Exports, Manufacturing, Shipments, Inventory, Orders, Retail Sales, Sales by Store Type, by Product Group,
Wholesale, Price Indexes, by Province, Labour Hours, Hourly Rates, Fixed Salaries, Revenues, Expenses, Profits
Statistics Canada333 industry categories & sub-categories by 6 Principle Statistics351 Product Categories & sub-categories for Imports & Exports
28 types of stores for 142 product classifications361 Work Hours, Hourly Rates, Salaries for industries and retail stores by province 351 price Indexes covering the manufacturing, wholesale and consumers
Slide4
“Whooptydoo. But what does it all mean Basil?”
Austin
Powers: The Spy Who Shagged Me
Which pond are you fishing in?
2011
$ Billion
$46 $12
Consulting -$9.1
Tech. Support-$3
Hosting-$1.9
Web Design-$1.1
$12 $6Slide5
Financial
Crisis
The Market has recovered from 2009 low but it’s different.
What is Retail ? …….Home Office, Small Business, VARsSlide6
Price Indexes
(2007 =100)
(1,000/131.2*93.4)Slide7
June 2011 – June 2012
Labour - Hourly Rates
?Slide8
Not all managers need to do analysis but they need to know some numbers (context). StatsCan is a good start.
There are 3 choices:
take
market share from competitorsgrow marketExpand to new sectors
What market are you in?
15 minutes: Industries, Product, Price indexes, Labour
$46B $12B $6BBob SmithBusiness Stats Canadawww.businessstats.ca