The power of AI unleashed for event measurement

ROE vs ROI? The new Pico ExQ Experience Analytics wants to bring better data-driven decision making and measurement into the events industry.

There’s even a lite version for event organisers to trial the AI-powered platform.
There’s even a lite version for event organisers to trial the AI-powered platform. Photo Credit: GettyImages/sdecoret

Pico X — the innovation unit of Pico Group — has taken the group’s data services up a notch via analytics, machine-learning and applied artificial intelligence (AI) with the launch of its ExQ Experience Analytics platform.

The ExQ Experience Analytics is a new data analytics solution powered by AI that effectively measures, compares and optimises audience experiences to drive return on experience (ROE) and return on investment (ROI). This in turn could help bring better data-driven decision making and measurement into the events industry.

This innovation aims to soothe the pain points caused by today’s big data environment. The amount of data to be gathered and analysed is increasing exponentially as the events industry moves towards virtual events — some even held in the metaverse — and companies may find it extremely costly and/or complicated to process this data.

Pico’s ExQ Experience Analytics not only helps event organisers analyse their performance in a cost-effective manner, it can also pinpoint project weaknesses using a scoring system based on comprehensive data points.

By leveraging small but robust first party data sets, event organisers will be able to derive more insights of their data, and discover solutions to enhance event experiences in the future. The data can be fully integrated into brand activations and always-on engagement strategies.

Additionally, ExQ Experience Analytics include:
• Access to ExQ Score benchmarks
• Live monitoring of audience engagement and experience optimisation insights
• Insights into data-informed content programming
• Use of machine-learning and AI to identify potential issues
• Provision of execution transparency to clients and internal stakeholders

In its soft launch during the last 24 months, ExQ Experience Analytics has been applied to some 70 projects from a wide spectrum of business sectors globally.

Event organisers can test out a more basic version of the ExQ Experience Analytics platform before fully committing to it. The ExQ Lite Calculator that lets them experiment with project variables and look at the outcomes. It quantifies the impact of experiences using the metrics of ‘Relevance’, ‘Attention’ and ‘Interest’.



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