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Data plays a key role in decisionmaking
Our industry often discusses the importance of data and how we need to have it. However, these conversations often end with great ideas, but limited data.
By Glenton De Kock, chief executive officer of SAACI.
While there is a general acceptance that data gathering must be done, there are only a few willing to participate. Many will share their reservations in sharing their own data, as the concern is, who will see and possibly, use the data? Ultimately, they fear it may end up with a competitor. Quite honestly, how are we making current decisions and driving future decisions, without data?
We, the industry players, are in agreement that research data is essential for making informed decisions in the meetings and events industry. By using data to inform event planning and execution, planners can ensure that they are delivering successful events that meet the needs and expectations of attendees, sponsors and stakeholders.
In addition to understanding attendee preferences and behaviours
Research data can assist planners to better understand their target audience, including their preferences, needs, and behaviours. This information can help inform decisions about event programming, scheduling and marketing.
The ease in identifying trends and industry benchmarks
Research data can provide event planners with current trends and industry benchmarks. This information can inform decisions about everything from event design to marketing and sponsorship strategies.
Evaluating event success will be so much clearer
Research data can be used to evaluate the success of an event. This can be done by tracking attendee satisfaction, engagement, and other metrics. Event planners can identify areas for improvement and make data-driven decisions about future events.
Negotiating with vendors and sponsors
Research data can guide event planners to negotiate with vendors and sponsors. This can be done by understanding the industry benchmarks and market trends, thus ensuring event planners are getting the best value for their money and can negotiate more effectively.
It is critical now, more than ever, as our industry starts to build consistent momentum, that our research data helps event planners and organisers make more informed decisions, when it comes to event organising — right from venue selection, menu planning through to marketing strategies.
