Data is the most important factor to have success in the fitness tech industry, according to a panel at the monthly WIN luncheon held Tuesday at the Sheraton hotel.

The speakers were Dave Grandin of kiio (physical therapy and training equipment), Bill Sotis of Web Racing (virtual reality fitness software) and Adam Wickersham of RaceTorch LLC (app to start and time races).

“There’s a huge variety of customers (in the fitness industry) you can sell to,” Grandin said. “It’s about how to collect, manage and disseminate the data.”

In Grandin’s case, kiio helps patients performing physical therapy measure objectively their improvement, which up until now, was mostly subjective.

The panel mentioned that Under Armour’s recent $475 million acquisition of MyFitnessPal is because of the growing needs and desires of consumers.

According to Sotis, it has helped that everyone from coaches to athletes to non-athletes is responsive to data.

“(This industry) is accepting of using technology to improve performance,” Sotis said. “The data motivates people … and it’s driven the market.”