Customer satisfaction still #1 business issue: execs
TORONTO, May 16 /CNW/ - Almost half of Canadian executives still say the
amount of information they have overwhelms them, showing no statistical
improvement from last year, though there has been some change at the
provincial and industry level, with some showing improvement while
others are facing an uphill challenge. These are just some of the
findings from a SAS/Leger Marketing survey released today. Overall, 45
per cent of executives in 2011 said they are overwhelmed by
information, compared with 47 per cent last year.
This year, executives from Ontario and British Columbia are far less
likely to say they suffer from information overload. In 2010, 52 per
cent of B.C. and Ontario-based executives said they faced information
overload, versus 38 and 44 per cent (respectively) this year.
While most provinces and business sectors showed little change, there
were a few that saw things deteriorate. Those in the academic and
education sectors were far more likely to say things have gotten worse
- 42 per cent in 2010 versus 61 per cent in 2011 saying they suffer
from information overload.
"Organizations often need to make significant procedural changes to
effectively address information overload," said Kathryn Brohman,
Professor, Management Information Systems, School of Business, Queen's
University. "For organizations to be successful combating information
overload they need both the right technology and the right procedures."
Canadian executives understand that in today's information age it is not
about having all information, rather having the right information.
Eighty per cent said they'd make better informed business decisions if
they had the right tools in place to analyze information more
effectively, yet 1 in 4 (24 per cent) say they do not have the right
information to make effective business decisions about their business
Customer satisfaction still the #1 business issue
For the second year running, customer satisfaction and retention was by
far the most important business issue for Canadian executives (34 per
cent in 2011, 37 per cent in 2010). It was the top issue in all
provinces; 39 per cent in Quebec, 35 per cent in Ontario and the
Atlantic provinces, 32 per cent in B.C., 25 per cent in Alberta and 24
per cent in the Prairie provinces. Tied for second (in both 2010 and
2011) at 13 per cent was controlling operational costs and
profitability. Dealing with government regulations was fourth, though
2011 showed a slight rise to 12 per cent, up from nine per cent in
The issue of customer satisfaction may be of concern for those in the
food/beverage/retail industry. Twenty-eight per cent of the industry's
executives said they do not think they have the right data and
information about their customers to make effective business decisions.
"We have many terabytes of data, covering companies and job seekers in
more than 56 countries," said Jean-Paul Isson, VP Global BI and
Predictive & Predictive Analytics, Monster Worldwide. "We use SAS
analytics to describe, understand and predict customer and job seeker
behaviour in order to better support our decision making processes.
Having the right tools to analyze all our data really helps minimize
Other findings reveal that the vast majority (96 per cent) of executives
across the country agree it is important to have access to information
to make better business decisions. However 3 in 10 said their IT
department is not able to support their information needs, which may
contribute to the fact that the majority (51 per cent) said data is the
most under-utilized asset in their organization.
We are also, apparently, not very good at sharing information. When
asked if their staff could share information more effectively, 82 per
cent agreed. Atlantic Canada, Alberta and Ontario-based executives were
more likely to agree (86, 86, 85 per cent) than their Quebec
counterparts - 77 per cent.
"Many business analytics initiatives are based on the concept of wanting
and needing access to information while ignoring the elephant in the
room - the fact we just aren't that effective at sharing information,"
said Elie Elia, Professor in the Department of Management and
Technology, ESG at the Université du Québec à Montréal. "While access
to accurate and up-to-date information is critical to business success,
there is a substantial amount of untapped business value that can be
gained by sharing information more effectively."
Continuing from 2010, more than three in four executives said the
information about their department or business performance is not
always accurate, timely, useful or easy to understand. The biggest
concern in 2011 was with the timeliness of the information executives
received, with 1 in 6 saying it is rarely or never timely.
Business analytics - no longer an option
While six in 10 executives nationally said their company uses business
analytics software, the technology designed to help people gain value
from massive amounts of information and better understand the market in
which they operate, the number is lower in Alberta at 47 per cent
(compared to 64 per cent in the Prairies, 61 per cent in Quebec and 60
per cent in Ontario).
Regardless, there is a national trend toward understanding the value of
business analytics software. In 2010, 21 per cent of respondents said
their organization did not need business analytics tools. That number
fell to 13 per cent in 2011. In at least one province the drop in those
who did not see value in using business analytics software was quite
large. Alberta fell from 22 per cent saying they didn't need the
technology in 2010 to just six per cent in 2011.
"Organizations across the country understand that business analytics
improves not only the accuracy of the data they use to make business
decisions but also the speed at which they receive it," said Cameron
Dow, vice-president of marketing for SAS Canada.
To download the full report click here.
About the Survey
The online survey was conducted for SAS Canada by Leger Marketing, the
largest independent Market Research Company in Canada, between January
6th and January 27th, 2011 with a representative sample of 1,000 senior-level business
decision makers. This method simulates a probability sample which would
yield a maximum margin of error of +/-3.1%, 19 times out of 20.
SAS is the leader in business analytics software and services, and the largest independent vendor in the
business intelligence market. Through innovative solutions delivered
within an integrated framework, SAS helps customers at more than 45,000
sites improve performance and deliver value by making better decisions
faster. Since 1976 SAS has been giving customers around the world THE
POWER TO KNOW®.
The Canadian subsidiary of SAS has been in operation for 23 years.
Headquartered in Toronto, SAS employs 263 people across the country at
its Vancouver, Calgary, Edmonton, Winnipeg, Toronto, Ottawa, Quebec
City and Montréal and offices. www.sas.com
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