The application supports the adoption of output and result Indicators linked to thematic objectives; investment priorities; with defined targets and baselines. The RIS3 output and result indicators application aims to assist regional stakeholders to define in concrete and justified way the RIS3 for each region to achieve the changes and evolution of the regional productive structure towards activities that (a) are globally competitive and (b) have a greater potential for value added.
The potential users of the application are high level executives that are actively participating in the design, implementation and monitoring of Smart Specialisation Strategies in European Regions.
One of the outputs of the application is a visualisation of the indicators in multiple formats. The indicators can be visualized and downloaded in tabular format or in different graphical representations. The application also performs statistical calculations on the output and result indicators such as correlation analysis and multivariate regression analysis.
Benefits to key actors and stake holders
One the main benefits of the application is that users can use the application to formalise the process of design, and monitor the actions in their adopted Smart Specialisation strategies. All the data are stored in a relational database hence each user can retrieve the information easily at different time intervals. The application is implemented to formalise the process but the content of each action and indicators that is included is completely open to users’ input.
Adopting a common set of outputs and result indicators, from which each region can select the most appropriate for their actions gives the ability to each region to perform advanced statistics analysis including correlation and multivariate linear regression analysis.
Each region can access solely their own data while data of the result indicators that are used in the correlation and multivariate linear regression analysis are gathered from Eurostat and are public available and open for any kind of use.