Analyze

OMX Analyze Methodology

How it works
OMX is an independent third party specialist in the assessment of economic impacts, particularly from defence procurements. OMX is the only custom platform built particularly for collecting, analyzing, visualizing and reporting on economic impacts in Canada.

Data Collection

OMX clients are asked to provide an initial list of Tier 1 suppliers or partners attributable to the program OMX will be measuring for economic impact, and to request by email that those suppliers provide data to OMX. Suppliers will then be contacted by OMX to ensure their OMX profiles are up to date, and to fill out an online survey, answering key questions such as amount of exports achieved as a result of the program. Suppliers will be encouraged to provide the names and contacts of their own suppliers and partners for OMX to contact, following the same process as above. OMX will try to connect with as many companies as possible given the time and availability of participating suppliers.

Data Visualization

OMX utilizes a variety of interactive designs and tools to visualize complex data for easier understanding. All visualized data is derived directly from raw data gathered through our data collection process. OMX encourages its clients to widely distribute its visualizations through print, web and social media channels. Data visualization encourages the viewer to better engage with the data and share it in measurably impactful ways.

Data Analytics

Assessment and Non-Compliance
OMX will assess data provided by industry, by the client and by government, with preference for data obtained directly from industry. Within each report, OMX will clearly identify the percentage of data from each source. In the event that the percentage of data obtained directly from industry is lower than desired, OMX may use known industry data to surmise a theoretical incremental increase/decrease in lieu of unknown industry data.
Although compliance from industry is preferred, there are a variety of reasons for non-compliance, including tight deadlines and confidentiality concerns. OMX will endeavor to explain to suppliers that any individual datapoints collected are shared only between OMX, the client and the supplier. All data is aggregated and anonymized before being shared with government or other stakeholders.
Economic Impact Calculation
Working with economic impact data sourced from Industry Canada, PWGSC and Statistics Canada, OMX analyzes supplier contract data and calculates the estimated impact of client activity on the Canadian economy in output dollars and jobs. OMX economic impact calculations are performed and published in aggregate.
OMX uses Statistics Canada's 2010 National Input-Output Multipliers, released in February 2014, to derive its economic impact calculations.

Reporting

OMX's final report is presented in draft form to the client for feedback. Upon completion, the final report is considered the property of the client and is confidential unless designated otherwise by the client. In the event that the client permissions OMX to publish its findings, the final data and analysis may be published in summary format on the OMX website or blog.