How Big Data Is Changing the Events Industry

Despite the interruptions during the pandemic, the events industry remains as strong as ever. The global market for events is even expected to reach a value of $2,194.40 billion by 2028. In part, this can be attributed to the success of virtual events during the pandemic itself.

Now that the pandemic is coming to a close, the events industry is now bracing itself for more than just a return to in-person events. A slew of occasions that were unsuitable for the remote setting and had to be postponed are now being organized. In handling the transition, the events industry is tackling mountains of data dealing with everything from structuring the event to picking venues and catering to participants.

All this can be overwhelming — but much like with virtual events, modern technology can help the events industry push through. Big Data is one tool that can help handle the influx of events that are being organized as the pandemic wanes. Here’s more on what it does and how it can streamline the industry’s workflow.

What is Big Data?

Unlike a few decades ago, individuals and organizations alike now own devices that help them produce their own data. As a result, we create over 2.5 quintillion data bytes daily — and this is know as Big Data. It contains more diverse information and can provide much better insights into trends and patterns. For example, retailers can cater their offerings to consumer shopping habits and trucking firms can determine which routes are the most fuel-efficient.

Big Data is useful in virtually any business regardless of the industry, so it’s no surprise that the demand for business analysts is growing faster than average, with the role projected to grow by 27%. These professionals are trained to leverage insights from Big Data that can improve their organizations’ decision-making processes. Below are a few ways their work in Big Data is changing the events industry.

How the events industry can use Big Data

Event planning analytics

Big Data can help you gain a better grasp on participant expectations and preferences by leveraging their information. Whether you’re organizing an event locally or abroad, knowing where your participants are traveling from can help you pick a venue that’s easily accessible. If your attendees are healthcare professionals looking to cater to non-English speakers better, you can hire bilingual speakers who are well-versed in how to solve the issue. Tools like Google Trends, surveys, and social media or email analytics can help you get the data you’re looking for.

More relevant promotions

Big Data can tell you which channels your attendees frequent the most and what kind of content will best engage them. Events geared toward fresh graduates can be advertised through visual and bite-sized formats on platforms like Instagram. Local events may benefit if promoted through local news sites, and you can also use social media ad targeting tools to boost your event to people who live in the area. By using Big Data to more accurately reach your target audience, you’ll get more out of the hefty amount usually allocated to events promotions.

Enhanced participant experiences

Big Data can also help improve in-event experiences. Using GPS technology, participants’ phones can only receive information on attractions they approach out of interest. In our piece on event planning essentials, we emphasized that successful events use tools that help you take the guesswork out of logistics — and Big Data is one such tool. Crowdshaping issues like overcrowding at a book signing event can be resolved with virtual queuing technology, for example. Insights from Big Data can also be used for future reference. If post-event surveys show that participants wished to walk around more, you’ll know to book a larger venue the next time around.

Big Data is introducing big changes to the events industry. As it’s done in other industries does far, it shows that event planning can be drastically improved — making the potentially hectic post-pandemic events era much less daunting.

Rafaela

Rafaela Jordyn is a freelance business consultant with six years of corporate experience. She specializes in streamlining HR strategies and building employee engagement initiatives for small to medium enterprises. As an aspiring writer and blogger, she loves to write about the newest technology trends and how these innovations are changing the corporate landscape. She aspires to be always up to date in the business world, so in her free time, you can find her scouring the internet for interesting webinars and workshops.

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