In the context of product development, a Center of Excellence (CoE) is an organizational or geographic unit with an acknowledged technical, business, or competitive competency. The term is often used concerning software development, engineering, and businesses seeking to improve their performance through best practices. A CoE can be internal to a company, or it can be part of a larger consortium. The former is more common, particularly in large enterprises, where multiple CoEs may exist within the organization, each focused on a different area of expertise. For example, a company might have CoEs for data analytics, software development, and customer experience. Within each CoE, there is typically a team of experts who collaborate to achieve the unit’s objectives. The term “Center of Excellence” is also sometimes used interchangeably with “Competency Center.”