Why cities need economic intelligence

The economies of Europe’s cities are changingfast, and it is not easy to predict which segmentsof the local economy will grow and which oneswill decline. Yet, cities must make decisions as towhere to invest, and face a number of questionsthat are difficultto answer:Where dowe putour bets? Should we go for biotech, ICT, or anyother sector that may have growth potential?Do we want to attract large foreign companies,or rather support our local indigenous smallerfirms, ormustwe promotethestart-up scene?Or is it better not to go for any particularindustry but just improve the quality of lifein the city, hoping that this will help to retainskilled people and attract high tech firms?