MDB Insight Blog

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How Do You Know the Labour Market Data You Collected Is Meaningful?

There’s a very good chance the ways you collect data and the kind of data you collect for your labour market and workforce development initiatives can be improved. So going forward, how do you make sure all of your data is useful and meaningful?

1.Show the tie-in of data to community outcomes.

Your data must be communicated in a way that stakeholders can quickly and easily understand. Whenever you take on a new strategy or project, you need to be sure you can prove that you’ve spent the community’s money wisely — that it will have positive results and bring insights.

Do not neglect communication. Can you provide a visual on the steps that were taken to gather this data and how it will be used? Also, have you set up metrics to measure the impact of having this data and what it will give your community?

2.Get an outside perspective that helps you prove the value of your office.

Maybe a recent blog post about the problems with many current economic development tools has convinced you that your economic development team may need to make a change. Many development offices, including economic development offices and labour force boards, are perpetually nullunderstaffed and underappreciated. Whether you are trying to improve your business retention and expansion program or workforce development strategy, it’s helpful to always get a new perspective on your data needs and methods of collection.

MDB Insight has years of experience working with municipal staff and knows what your obligations are. We can support you during your big moments in time — like the longer-term strategies and planning that occur once every three or five years — but also in those smaller moments of opportunity when the right data can help the rest of your municipality understand the importance of your work.

Learn More About How MDB Insight Helps Your Labour Market Without Hindering Your Development Budget

Getting what your community needs is difficult when you’re hemmed in by your community’s economic development budget. Download this E-book to access the 3 steps your community needs to take to stand out in the economic development crowd.

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