It is a very helpful tool, developed by the European Commission, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW), for analysing the geographical data of every European region. It will give you a larger view of the European economic landscape in every field and topic.
With that information, you might consider starting a beneficial partnership with another region to bring innovation and knowledge to yours. You might also consider adjusting your policies or creating new perspectives for the benefit of your region.
To have a look on the Regional Innovation Scoreboard 2019 click here.