Disseminating statistical information on economic development

1. Disseminating statistical information on economic development UNECE Training Workshop “Short-term statistics and seasonal adjustment”Astana, 14 – 17 March 2011 Petteri Baer, Marketing Manager, Statistics Finland

2. Information services usually provided on economic development • Opinion surveys(e.g., business and consumer surveys, purchasing managers surveys, bank lending survey): at least monthly with a high timeliness • Market data (e.g. stock market data, exchange rates, yields): at least daily, frequently “tick-by-tick” • Short-term statistics(e.g. Harmonised CPI (HICP), unemployment rate, leading indicators): monthly • Monetary and financial statistics(e.g. MFI (bank) balance sheets & interest rates, securities, balance of payments): monthly – mainly by central banks • National accounts (e.g. GDP, sector accounts): quarterly and annually Petteri Baer

3. Operational environment of services on economic statistics • Growing demand for fresh and timely statistical information on the economic development • Highlighted by the financial and economic crisis • But existing in all phases of the economic cycle • Strong influence of rapid communication tools • Growing information overflow • Importance of quality issues • For the service products themselves • For building up the reputation of official statistics Petteri Baer

4. To develop better interaction with users we need to be proactive • Who are our present users of economic statistics? • Who are our present users of short-term economic statistics? • Who are our POTENTIAL users of short-term economic statistics?

5. Nota bene! Users are different: Tourists, Farmers, Miners… • We will most likely have to define different ways to approach different users, if we wish to have efficient communication Courtesy to Armin Grossenbacher Petteri Baer

6. So – Who are in need of information on STS? (1) • The easy reply • Policy makers • Business community • Media and • General public • But note: Policy makers are much more than only ministries • Central Bank • High level advisory groups • The district (oblast) level • The local level • Trade unions, lobbies, NGOs…

7. So – Who are in need of information on STS? (2) • The business community is a much broader target group than often believed • Banks • Insurance companies • Big corporations • Medium sized enterprises • Chambers of commerce • Branch organizations • Employers organizations • Foreign companies • Etc.

8. So – Who are in need of information on STS? (3) • And numerous target groups mentioned above usually employ • Business analysts, researchers, economists • Or make use of • Information brokers • Business intelligence systems or • Knowledge managements systems • Do we provide sufficient information services to them? In proper forms?

9. To disseminate economic statistics efficiently: Database services! • We produce quite a lot of statistical information • Different users have different need structures, they want information • By industries, By enterprise sizes • By regions • Comparisons over different time periods • International comparisons • And numerous other aspects… • PC-Axis, PX-Web… User friendly services! Petteri Baer

10. The importance of good contact information • User lists • Existing customers and contacts • Regular and heavy users of economical statistics • Contact directories • Feedback contacts •  Contact / Customer database •  Customer Relationship Management (CRM)

11. To improve user interaction we will at least need a Customer Database • For contacting • For surveys on satisfaction or dissatisfaction • For presenting new targeted services • For other forms of interaction

12. Customer Database FunctionsInformation providers Information users Customerservice Customers Developmentprojects Customerintelligence Contactintelligence Lead intelligence Mana-gement Customer database Campaignintelligence Product development Informationretrievals Project intelligence Quoteintelligence Adminis-tration Marketing Project groups Sales Petteri Baer

13. We will profit much from active feedback • Having more feedback will help us to develop our services • Interaction with critical customers will help us in having a positive pressure on performing better • A demanding customer is like a grain of sand within the mussel. It doesn’t feel good but the result may be a beautiful pearl!

14. Publicity may sometimes be tough! • Statistics often tends to attract hostile media coverage… • “Why does it take so long?” • “My own perception is different!” • “Lies, Big lies, Statistics!” Any votes for the Census? But - is there an alternativeto providing better publicity?

15. Questions to be raised • The importance of good and timelystatistical information • How can resources be allocated if basic information on the economic development is based on guesses or too old information? • Attracting investments, doing good business, developing economic activities needs good infrastructure – reliable official statistics is fundamental • If the denominators of such as population statistics, GDP etc. are wrong, no real information is reliable Petteri Baer

16. Take publicity seriously • Develop useful statistical service products • Make a good plan of what will be published • Publication calendar • Provide regular Media/Press releases • Make use of your agency’s Press Officer • Press Conferences from time to time • …but not too often! • Also critical media should always be invited! • Cost plan and budget for publicity activities • Follow up on media appearance – both quantities and attitudes Petteri Baer

17. The media is your partner • In disseminating the main results of all your hard work on statistics • In making problematic issues known • Help the media to be well informed!

18. Statistical literacy • Beyond students or school pupils • Special information seminars, breakfast sessions or other kinds of light information meetings for selected target groups would be advisable • The web site of the International Statistical Literacy Project of IASE could be helpful in planning • http://www.stat.auckland.ac.nz/~iase/islp/countries Petteri Baer

19. Presentation of statistical information on Short-term statistics • KISS – Keep It Short and Simple • Storytelling approach • UNECE’s “Making Data Meaningful” materials 1 - 3 • Available on the web, also in Russian, so far only 1 – 2 • Focus on turning points • Omit accidental events and “noise” • The importance of seasonal adjustment Petteri Baer

20. Conclusions – Five items of great importance • Existence of good STS services • Packaging the STS services into for the different user categories relevant service products • Maintaining good accessibility on the web • Obtaining, updating and increasing contact information on users • Meeting and discussing with and learning from main users Petteri Baer

21. The efforts you will make will be rewarded, because… • Only used statistical information is useful statistical information! • Thank you for your attention! • petteri.baer@stat.fi