IMEC Lessons – Industry Data Sharing Built on Trust, Says CEO
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The Key Message
When businesses are making multi-million-dollar investment decisions, having access to reliable market intelligence can be the difference between success and costly mistakes. That’s the key message from Joe Lynch, CEO of IMEC (the ICOMIA Marine Engine Committee), in a new video discussing the value of trusted industry data sharing.
IMEC – Partnering with PowerStats for More Than a Decade
For more than a decade, IMEC has partnered with PowerStats to collect and analyse global marine engine market data. The programme enables members to submit commercially sensitive sales information with confidence, thanks to a neutral, independent platform that securely anonymises contributions before producing aggregated market reports. This governance model allows manufacturers to benefit from industry-wide insights without revealing individual company performance.
Trust is the Foundation
According to Lynch, trust is the foundation of any successful data-sharing initiative. Members contribute because they know their information is protected and because they receive valuable intelligence in return. The resulting market insights help businesses forecast demand, plan production, guide product development and make better-informed investment decisions.
The approach demonstrates how collaboration between competitors can strengthen an entire industry. Rather than relying on fragmented or incomplete information, participating companies gain access to a clearer picture of global market trends, helping reduce risk while improving long-term planning.
The Importance of Accurate Market Intelligence
Lynch also highlights the wider benefits of accurate market intelligence, noting that better-informed investment decisions lead to more efficient use of resources, reduced waste and stronger outcomes for manufacturers and the recreational marine sector alike.
Watch the accompanying video (above) to hear Joe Lynch explain why trust, impartial governance and meaningful industry collaboration have made IMEC’s statistics programme such a lasting success—and why reliable data continues to be one of the marine industry’s most valuable strategic assets.
Find out more about PowerStats here
Learn about IMEC here
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