Event organisers now value digital technologies and data, but must differentiate between data and intelligence. Photo Credit: Adobe Stock/NicoElNino
Collecting data from events is second nature to event professionals,
but what they do with this data is far less transparent. UFI hosted a
panel at its Asia-Pacific conference which took place in Kuala Lumpur
earlier this month, showcasing how data insights can give you a clear
overview of what's happening with your customers and across your
business, and how to transform this data into actionable insights.
The panel featured Dave Chan, senior vice president, data &
insights Asia at Informa Markets Asia, Errol Lim, co-founder and COO of
Jublia, Roxanne Wong, managing director at Info Salons APAC and Jo-Anne
Kelleway, international industry ambassador at Freeman Company.
Data vs intelligence: The need for differentiation
Lim touched on how, in the last three years, there has been a greater
appreciation of digital technologies by the event organisers, as well
as a greater appreciation of data by event organisers. He emphasised
however, that the event industry needs to differentiate between data and
intelligence.
“We're in this period of time where we have collected so much data
that we have too much data,” he said. “We have to take a look at things
like demographic data alongside intentional data. When you contrast
different sets of data, like demographic data based on what you receive
for registrations, alongside intentional behavioral data, you find your
customers and your audience’s true intentions. And that's what you will
fulfill in terms of experience.”
Informa Markets’ Chan reflected on how the business has been testing
new data business models, with the aim of bringing it closer to the
360-degree lifecycle of its customers.
“We're redefining the narrative for who our customers are - we no
longer talk about them as a paying customer,” he says. We call them
exhibitors - they [and their data] are going to tell us where things are
moving, the micro level changes that are happening that we need to pay
attention to.”
Lim added that there are different [data] profiles for different
event attendees and that understanding the micro level of event
delegates is vital. There could, for example, be attendees that are
interested in meetings, and therefore leads would be appropriate, while
others are looking for research or want to consume content.
Data democratisation for strategic decision making
Info Salons’ Wong detailed work the company has been doing with
Clarion, combining data to ensure that as many marketing records as
possible are held in one place, ensuring the data is visible and
accessible across different timeframes and events.
BCD M&E also highlighted the importance of data in its latest
Global Technology Report, released earlier this month. It covers how
technology is transforming meetings & events, as well as
highlighting the latest advancements in event management technology,
focusing on the tools and tech meeting professionals can use to maximise
their data.
It highlights the impact of MAR, an acronym standing for machine
learning, artificial intelligence, and robotic process automation. While
these tools are not new, BCD M&E says the meetings industry can
harness these technologies to ensure its most valuable resources - its
employees, are able to focus on the most strategic parts of their jobs.
Data democratisation - the process of making data more accessible and
available to a wider range of people within an organisation or society,
is vital too.
Events collect various data points, including attendee information,
spending, savings, and compliance, which are often segregated across
different third-party systems. As a result, a wide range of
decision-makers and stakeholders within an organisation may not have
access to this data.
The report also focuses on the benefits of harnessing ‘small and wide
data’ - data collected from operational teams that can provide insights
and reporting on how a particular process or efficiency can be
improved, and which directly impacts performance. This is typically
gleaned from an individual, more manageable data set.
“Ingesting this small data and joining it together with other pockets
of data (such as time tracking or purchasing) grants the ability for
additional insight that can augment the data story,” the resort says.
“Even when it comes to attendee experience data, this comes into play.
Everyone is capturing it, yet not many are turning it into an actual
story by producing insight around high-level interactions.”