The Importance of Accurate Data in Maximizing Technology for Economic Development

In economic development, technology addresses two core challenges: reducing time spent on tasks and boosting efficiency for better outcomes. However, in a field as complex as economic development, technology can only take you so far. The true power of technology is realized only when it’s backed by accurate, reliable data.

For economic developers in today’s digital landscape, it’s essential to understand the strong connection between data quality and technology effectiveness. High-quality data forms the foundation of all successful tech applications. Whether it’s for site selection, attracting businesses, or strategic planning, the accuracy of your data will directly impact how well your technology performs.

This session will dive into how accurate data transforms technology into a game-changing tool for economic development. We’ll explore the pitfalls associated with poor data quality—such as misguided decisions, lost opportunities, and inefficiencies—and the benefits of regularly updating and verifying your data. Through case studies and real-world examples, we’ll demonstrate how data-driven technology can foster economic growth, enhance decision-making, and streamline processes.

Ultimately, your technology is only as good as the data it relies on. By prioritizing data accuracy, economic developers can fully leverage their applications, leading to smarter decisions and better outcomes for their communities.