Our Industry is Changing – What’s Going On?.
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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.
Anchor decisions in good data.
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.
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
“Whooptydoo. But what does it all mean Basil?”
Austin Powers: The Spy Who Shagged Me
Which pond are you fishing in?
The Market has recovered from 2009 low but it’s different.
What is Retail ? …….Home Office, Small Business, VARs
Labour - Hourly Rates
June 2011 – June 2012
15 minutes: Industries, Product, Price indexes, Labour
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 competitors
Expand to new sectors
What market are you in?
Business Stats Canada