Organizations that track their performance regularly expend significant resources in data collection and monitoring. They face many challenges, including:

Organizations that track their performance regularly expend significant resources in data collection and monitoring. They face many challenges, including:

A lack of accurate and timely data. Sometimes the data is not granular enough to effectively pinpoint the work that EDOs have done.

Stakeholders$$ misinterpretation of the data. EDOs oftentimes struggle with demonstrating value and return on investment without inappropriately taking credit for successes and misrepresenting data. At the same time, some feel pressured to show $$big wins$$ to investors and decision$-$makers, lest they are not interested in funding economic development activities.

A lack of time and budget resources needed to collect useful data. EDOs that collect data through surveys of local companies may struggle to gather responses due to either a lack of time or confidentiality concerns

Consistent output metrics that can complicate performance measurement over time and across programs$/$projects$.$