The AI Blueprint Digest: reshaping events with data science
The AI Blueprint is ExpoPlatform’s practical guide on how an event organiser can use the wealth of data now being created in our industry to reshape their business.
Events have witnessed a digital revolution which has produced an information-rich environment for organisers all around the world.
Research shows new business models forged on the success of virtual and hybrid events as well as always-on communities have increased the number of data points on each participant by a factor of 20 – but we want to show you how to use it to improve in-person events too!
Our free ebook brings together exclusive insight from industry experts into how things have changed and how to shape up for the future, with instructions on how to make the most of the new opportunities brought through this information.
Here, we want to show some of the key points included in our complete AI Blueprint:
- Opportunities for event data and analytics
- Role of AI in event personalisation and matchmaking
- How to keep control of your data
- Performance metrics event industry should focus on
- Expert insights on creating a data driven team and business
Opportunities for event data and analytics
Being able to unlock the power of data can have a transformative effect on a company s success.
ExpoPlatform’s research shows being able to uncover customer insights to help shape product development was ranked as the top opportunity, with 68% of survey responses.
Other areas for utilising this information include providing a seamless experience across the customer journey, AI-powered recommendations for personalised online experiences as well as building Smart Event agendas.
Studying the data can give you insight into the trends within your community, which can be useful in making your upcoming events and online products more impactful.
These patterns could be related to the type of content being consumed by a group or the fundamentals of supply and demand within your community.
Role of AI in event personalisation and matchmaking
Machine learning – the branch of artificial intelligence (AI) which focuses on the use of data and algorithms to improve accuracy – has huge potential in the conferences and exhibitions industry.
It’s how Spotify makes 70 million tracks into a playlist of songs you might like, it’s how Tinder can turn 57 million people into a list of potential dates or Amazon can transform 350 million products into targeted recommendations.
AI matchmaking has changed the way connections are made at events.
This technology can be used to turn a large-scale event into something highly relevant and personalised, providing focused recommendations for better, higher quality experiences for visitor and exhibitor alike.
It means an organiser can cut out the randomness of an event and maximise the most of a user’s time at the show.
How to keep control of your data
Our industry saw a major debate take place about who should control attendee data – the organiser or the event technology provider.
But a series of sessions and our own research clearly shows that issue has been settled – it should reside with planners.
An incredible 97% of exhibition organisers told our survey it’s at least very important to take control of their data.
That is a major example of its value amid the explosion of digital options for events.
The organiser-led model, the event organiser controls the attendee data, with the technology platform being the processor of information as long as the contract lasts.
This is similar to how registration companies have worked and generally considered to be in the best interest of the planner.
Performance metrics event industry should focus on
There are a number of key metrics which our industry can pursue to help create events of the future.
- Proof of ROI and return on time is the main priority for the event industry, with 44% of responses. Organisers want to understand “the amount of business done” and any data points that indicate the value an exhibitor has received such as quantity and quality of connections, meetings, RFIs.
- Engagement across the full customer journey: 28% of responses related to customer engagement – across all stages of their involvement with the business. Comments were about “tracking full customer journey from start to finish”, “conversion of online-visitor to in-person visitor” and measuring “engaged data and customer retention rates across all digital channels and events”.
- Net Promoter Score is still relevant, even though it is a lagging metric. This score should be top left of your dashboard.
- Revenue will always remain an important metric to measure the performance of the business.
We hope you enjoyed reading this article and found it useful. At ExpoPlatform, we want to help you build better events and communities. Please get in touch and ask for a demo here. Thank you.
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