Charlotte Hopley, senior economic intelligence officer at the West of England Local Enterprise Partnership (LEP), explains the importance of a robust evidence as the basis for business decision making.
At a time when resources are being stripped back it is vital that we target our efforts in the right places, whether that’s where the biggest economic gain can be felt or targeted to areas of greatest need. 
These important decisions, which help shape the local economy, need to be based on the best available evidence. Economic intelligence helps us to understand our local economy – our strengths and weaknesses; threats and opportunities. Providing a robust and credible evidence base gives the decision makers the best possible chance to make the right decisions, for the right people.
The development of our Strategic Economic Plan was underpinned by an extensive evidence base. This enabled the LEP to identify robust proposal on the best way to create sustainable economic growth and jobs in the West of England. Using our evidence base we were able to identify sectors of the economy where we are already strong both nationally and internationally. We were able to demonstrate that these sectors currently outperform the market, offer us the best opportunities for further medium-long term sustainable growth potential, and dovetail with national economic priorities.
Across the partners within the West of England there is a joined up and reliable approach to the collation and analysis of data. The Economic Intelligence Steering Group incorporates the four unitary authorities, supported by LEP officers, ensuring that consistent definitions and methodologies are used in the collation of local data and in the interpretation and analysis of national data sources. Collectively, the group ensures the most suitable and trustworthy data sets are used to support schemes and developments designed to boost local economic growth.
The Economic Panel of Experts incorporates representatives from academia and business, its membership covering a wide range of specialisms, all of importance to the LEP. The panel is a forum for local economic experts and academics to debate current and emerging economic issues and hot topics alongside key decision makers in the LEP. They critique work commissioned by the LEP and discuss a range of activities, locally and nationally, which could be of interest to the West of England. Both the panel and the steering group are designed to add robustness and credibility to the economic evidence and intelligence used by the LEP.
The collation and analysis of data is an ongoing process, new data is constantly being released and always needs to be updated and refreshed. In order to meet the needs of a diverse economy and continue to promote sustainable economic growth against a backdrop of regular political change, one thing must remain consistent: data and evidence should remain at the heart of the decision making process.
