Monday, May 23, 2011
New report finds telecoms/utility companies are largely in the dark as to how efficiently their businesses are running
Just 14 per cent of telecoms/utilities companies believe their existing source of management information is being effectively exploited, says Sourceforconsulting.com, a leading provider of information on the management consulting market. The report, released today (23 May 2011) also found that over a third of companies (40 per cent) feel swamped with too much data.
Consulting firm Trinity Horne, who partnered Source in producing the research, believe this new report highlights the opportunity to apply advanced mathematical techniques to help managers feel confident about their ability to make the best, informed decisions.
“The problem is not a lack of management information, but how existing data is being analysed to contribute to better informed management decision making,” said Brendan Cahill, chief executive of Trinity Horne.
“How do managers know where to spend their money effectively? What particular assets and structures require the most attention? We believe the application of advanced mathematical techniques is the best way to make sense of complex and sometimes contradictory data," he added.
The report, which surveyed over 50 telecoms and utility companies, introduces the concept of applied analytics - the process of harnessing raw data which then undergoes complex statistical analysis by experts to provide innovative insights.
Brendan Cahill concluded:
“What makes this approach innovative is that at its heart is a sophisticated model in which all of the data points can be analysed in conjunction with each other.”
The report also found that almost half (43 per cent) of managers in the sector said that conflicting managerial priorities presents a major barrier to using the data they do have effectively.
For further information about this press release, please contact:
David Pippett, DWP Public Relations
Tel: 07899 798197
Edward Haigh, Head of Content and Marketing, Sourceforconsulting.com
Tel: 0845 293 0993
About Sourceforconsulting.com
Sourceforconsulting.com is a leading provider of information about the market for management consulting. Set up in 2007 and based in London, Source serves both consulting firms and their clients with expert analysis, research and reporting. We draw not only on our extensive in-house experience, but also on the breadth of our relationships with both suppliers and buyers. All of our work is underpinned by our core values of intelligence, integrity, efficiency and transparency.
Sourceforconsulting.com is owned by Source Information Services Ltd, an independent company, which was founded by Fiona Czerniawska and Joy Burnford. Fiona is one of the world's leading experts on the consulting industry. She has written numerous books on the industry including: The Intelligent Client and The Economist books, Business Consulting: A Guide to How it Works and How to Make it Work and Buying Professional Services. Joy Burnford was Marketing and Operations Director at the UK Management Consultancies Association between 2003 and 2010, and prior to that worked for PA Consulting Group and has extensive experience of marketing consulting services.
About Trinity Horne
Trinity Horne specialise in evidence based business transformation primarily to the telecoms, utilities & IT sectors but also to the finance & government sectors. Their outcome driven approach, industry leading methodologies and proven ability to implement sustainable change uniquely position Trinity Horne to drive tangible results in operational environments.