The Single Source of Truth (SSoT) is a set of state-of-the-art analytic tools and systems that allow for the automated and manual collection of anonymized data, the secure storage of that data, and the ability to extract knowledge and insights that will lead to a greater understanding of the academic and enterprise assets we have in our region.
To understand our region and the opportunities therein, we looked to the available data. We found data – a lot of it. We found it on multiple websites. We found it in multiple formats. However, most of the available data we found was outdated. In many cases significantly outdated, and to find what we were looking for we had to search across numerous data sources.
Because there is no single source to determine the number of enterprises in each industry cluster, track their trajectory, and their economic impact on the region’s economy.
Because there is no single source to determine the number of high demand, high opportunity jobs that will be needed next year, in 3 years, in 5 years.
Because there is no single source to determine the volume of talent produced each year for these high-demand, high-opportunity jobs.
The talent supply chain is unable to determine the number of graduates they must produce, and the skills required of those graduates. An enterprise’s voice is muffled, or not heard at all. Unable to meet talent requirements, enterprises will look elsewhere, open offices in other regions, or move their enterprise altogether where talent is more plentiful and the ecosystem more conducive to growth. Opportunities are missed or lost because decision makers lack the necessary visibility to apply near real-time data to program investments, program design, and policy decisions.
The lack of a single source of accurate, timely information evoked a vision, a vision meant to mitigate the pain points of all stakeholders. A vision for a Single Source of Truth.
Imagine a single, comprehensive, trusted source of actionable information able to represent employment, enterprise growth, and innovation on a cluster-by-cluster basis across the region.
Imagine a single, comprehensive source of actionable information that aggregates the number of high-demand, high-opportunity jobs needed in the next year, in 3 years, in 5 years.
Imagine a single, comprehensive source of actionable information that identifies the firms in the region that have the best opportunity to grow and the high potential workforce contributors in each cluster.
The mission of the Single Source of Truth is to assist policymakers, academic, and enterprise leaders in better understanding the factors that drive enterprise development, innovation, and job growth in support of data driven investment opportunities that result in accelerated economic growth and prosperity across the region.
EnterpriseKC believes that the data collected, and the insights gained will provide a strategic and competitive advantage over the regions with which we compete. The ability for policy makers to access timely and accurate data on the factors driving the regional economy will result in better, more informed decisions regarding economic development strategies for the region. Data-driven decision making based on access to timely and accurate data will have a profound effect on where strategic investments should be made. We believe that this effort must be business led and non-partisan. We believe it will require all stakeholders working together with clarity, alignment, and focus , and leveraging a systems level approach to economic development in the region. A Single Source of Truth in support of accelerated regional growth will help the region to…
Working together, we can dramatically accelerate economic development and propel the region and its residents to sustained prosperity.
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