In the past, intuition played a big role in decision-making. Today, data has become one of the most important strategic assets. It is a key tool for business decision-making.
From guessing to proving
Technological competitiveness has become as fierce as it is essential. Companies no longer survive in the market just by offering better products or prices. The game has changed.
Now they survive thanks to their ability to use data strategically. To anticipate the market, innovate, and make fast decisions.
In Costa Rica and Central America, this race is getting more intense. In 2023 alone, Costa Rica doubled its investment in digital infrastructure. And in 2024, the region surpassed the Latin American average in cloud services adoption for the first time.
5 key ways data strengthens technological competitiveness
1. Driving innovation and the development of new technologies
Key takeaway: Timely access to reliable data enables companies to drive innovation.
In 2024, Costa Rica recorded more than 120 tech startups using data to deliver solutions in health, agriculture, and Fintech. According to CAMTIC, these companies have grown significantly because of their focus on this area.
45% of these startups stated that access to government databases made their launch and scalability possible.
Why it matters: When data is incomplete or unavailable, companies have fewer tools to create new solutions. But when data access is broad and open, developing innovative ideas becomes easier.
Real case: In agriculture, Costa Rican startup Green Xpo Lab has implemented remote monitoring systems that combine historical climate data, satellite images, and predictive models to optimize irrigation and fertilization.
This has boosted sustainability and increased productivity by up to 30%. A case that shows how integrating data from various sources can transform a core industry in the economy.
2. Improving strategic decision-making
Key takeaway: The availability of accurate data allows for timely and correct decisions.
According to the Ministry of Science, Costa Rican companies that use advanced analytics reduce their operating costs by an average of 20%.
Also, 68% of organizations in Central America said that data analysis was key in selecting new markets in 2024.
Why it matters: Fast, data-driven decisions can make the difference between leading a market or losing relevance.
Real case: Multinational DHL, with operations in Costa Rica, has developed supply chain solutions based on real-time dashboards. This allows its clients to adjust inventories, routes, and forecasts in just hours.
This has strengthened their ability to respond to logistics disruptions. A key factor in industries like international trade and advanced manufacturing.
3. Accelerating technology adoption in key sectors
Key takeaway: Data drives the adoption of technological tools, increasing business efficiency and protecting assets.
By 2024, 55% of medium and large companies in Costa Rica had implemented Business Intelligence (BI), up from 35% in 2020.
In Central America, the financial sector reported a 70% adoption rate of fraud analysis solutions using data, compared to 50% in 2022.
Real case: BAC Credomatic has made significant cybersecurity improvements through big data solutions that detect risk patterns in real time.
These cases show that technological competitiveness in banking is not only about speed. It is also about trust and protection.
4. Enabling benchmarking and regional competitiveness
Key takeaway: Comparative data helps positioning because it allows companies to understand where they stand against competitors and identify gaps for improvement.
Costa Rica leads Central America in access to high-speed Internet. Averaging 60 Mbps in households, compared to 40 Mbps in the region.
In the 2024 World Economic Forum’s Global Competitiveness Index, Costa Rica ranked three positions above the Latin American average in technological innovation (WEF, 2024).
Why it matters: Knowing the indicators helps identify gaps and opportunities, making it possible to focus investments.
Real case: Costa Rica’s Ministry of Health presented its Digital Health Strategy and Roadmap 2023–2030, prioritizing investments in system interoperability, electronic health records, and telemedicine.
This plan was based on comparative analysis (benchmarking) with leading countries in digital health. This allowed the country to identify strategic areas for investment to improve service quality and position itself as a regional leader.
5. Strengthening transparency and building trust
Key takeaway: Open data increases legitimacy because it allows citizens, investors, and partners to verify information independently.
In 2023, Costa Rica’s open data portal saw an 80% increase in queries, reflecting growing interest in transparency.
Tech companies that share responsible data see 25% more trust from C-level clients.
Why it matters: Institutional trust boosts collaboration and enhances public perception of transparency.
Real case: During the COVID-19 pandemic, Costa Rica implemented public dashboards with updated data on cases, vaccinations, and hospitalizations.
These platforms, developed in partnership with academic and government institutions, allowed citizens and the media to access clear and verifiable information.
This strengthened perceptions of transparency and showed how open data management can improve the relationship between the state and society.
Data is much more than numbers
Data is the engine that drives smart decisions, innovation, adoption, benchmarking, and trust.
Recent figures from Costa Rica and Central America show clear progress: digital investment is rising, technology adoption is growing, and there is regional leadership in infrastructure and transparency.
How is your organization doing in its strategic use of data? The challenge is to make data a driver of technological competitiveness, not a wasted resource.
Share this with your team and turn this information into a roadmap to boost your organization.
