On Data: A New Standard?

More than a decade ago, WTIA began capturing data for our communities based on the 2002 IEDC Data Standards for site selection. As one can imagine, this data transitioned many times through the years. Everything has changed; from the original capture mechanisms in Excel to the printed 11″ x 17″ one-fold information brochures.

Data is now interactive. Its delivery is instantaneous in many cases.

In 2016, IEDC issued a whitepaper entitled A New Standard: Achieving Data Excellence in Economic Development. (The paper can be downloaded for free by IEDC members at IEDConline.org. Non-members may purchase a copy in the IEDC bookstore for $75.)

Interestingly, some thought was given to what types of information site selectors trust when it is requested from an EDO, given the assumption that the EDO has a marketing mission. As we all know, statistics can be presented many ways, in lights both favorable and not.

So many questions come to mind. How do we present our not so great data and remain competitive in the selection process? What is your story? Does your community have a way to address the peaks and valleys? Should EDOs change the types of information available on our websites to quickly address the less common data points? What are your thoughts on site selection data today in terms of collection, consumption, presentation, and analysis?

Leave a comment below, or, even better, let’s discuss in person or on a call.