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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 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

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

    Michelle Rolingson-Pierre VP Financial and Capital Markets Development Tuesday 29th October, 2013
  2. Introduction: Context Setting 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
  3. Where and how the TTIFC applies statistics
  4. For example… in ICT (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
  5. For example: in BPO(Business Process Outsourcing) Details of skill pool Age of labour force Labour costs Education statistics Computer literacy Telecommunication access Real estate costs Electricity costs
  6. Challenges and impacts when 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
  7. Impact of statistics globally 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
  8. Steps needed to advance statistics in TT Sharing of data Creation of pools of data Responsiveness of providers of data
  9. Closing statement 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)
  10. Thank you
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