Statistics and its role in policy academia and decision making
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Statistics and its role in Policy, Academia and Decision-Making. Michelle Rolingson-Pierre VP Financial and Capital Markets Development Tuesday 29 th October, 2013. Introduction: Context Setting. Trinidad & Tobago IFC Who are we and what we do.

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Statistics and its role in policy academia and decision making

Statistics and its role in Policy, Academia and Decision-Making

Michelle Rolingson-Pierre

VP Financial and Capital Markets

Development

Tuesday 29th October, 2013


Trinidad tobago ifc who are we and what we do

Introduction: Context Setting Decision-Making

Trinidad & Tobago IFCWho are we and what we do

Overall objectives for Trinidad & Tobago IFC

  • Investment promotion agency

  • Support development of Trinidad & Tobago economy

  • Diversify Trinidad & Tobago economy beyond energy sector

  • Create quality employment opportunities

Capital Markets Development

FINeSS

  • Create employment in middle-office and back-office services, as direct consequence of promotional activities

  • Support broader economic development and diversification

  • Enable employment opportunities where possible

Key initiatives


Where and how the ttifc applies statistics
Where Decision-Making and how the TTIFC applies statistics


For example in ict information and communications t echnology
For example… in ICT Decision-Making(Information and Communications Technology

  • ICT Regional Survey April 2013

    • Price assessment of access and backhaul data resources

    • Measured across 10 markets

    • Used to identify consistencies/ disparities

    • Price comparisons


For example in bpo business process outsourcing
For example: in Decision-MakingBPO(Business Process Outsourcing)

  • Details of skill pool

  • Age of labour force

  • Labour costs

  • Education statistics

  • Computer literacy

  • Telecommunication access

  • Real estate costs

  • Electricity costs


Challenges and impacts when accessing statistics
Challenges and impacts Decision-Makingwhen accessing statistics

  • Lack of recent data

    • Hampers the decision making process

  • Limited scope of data

    • Hinders us from convincing prospects

  • Limited data

    • Prevents us from rapidly pursuing opportunities

    • Allows too much intuitive thinking

    • Creates biased decisions

More data = Greater investor confidence


Impact of statistics globally
Impact of statistics globally Decision-Making

  • Public policy effectiveness

  • Measures the rate of success

  • Provides accountability to public

  • Efficient targeting of resources

  • More effective decision making

  • Better understanding of situations

  • Draw verifiable conclusions

  • Implementation of law

  • Management by Objectives


Steps needed to advance statistics in tt
Steps needed to advance statistics in TT Decision-Making

  • Sharing of data

  • Creation of pools of data

  • Responsiveness of providers of data


Closing statement
Closing Decision-Makingstatement

  • The availability of Statistical Data and an ability to analyse and conclude from same is necessary in order to make relevant and pertinent decisions.

If you can not measure it, you can not improve it.(Lord Kelvin, mathematical physicist)


Thank you
Thank you Decision-Making