Sample Module: The Benefits of Data-driven Decision-Making

Economic development encompasses a broad range of activities designed to grow the economy and improve the quality of life for people living in a specific area. The role of an economic researcher is to support economic development efforts with data. In this module, CREC senior vice president Marty Romitti, Ph. D., distinguishes between:

• Common approaches to decision-making that are not data-driven.
• Data-driven approaches to decision-making that depend on:
  • Objective analysis
  • Honest objectives
  • Guided action and policy
  • Quantifiable objectives
  • Monitored results

The rest of this course will introduce datasets, tools, and methods for employing data-driven decision-making.