The increasing application of big data and data analytics is good for the meetings industry and good news for meetings industry PR.
While big data and data analytics have been much discussed in many sectors, they have not a hot topic in the meetings and incentive travel sector until recently.
Data analytics and meetings industry PR
One of the most notable steps was the recent article by Clareville client the Thailand Convention & Exhibition Bureau entitled ‘Unveiling the power of big data in the MICE industry.’ The subtitle of the extensive editorial was; ‘Transforming big data into business insight is mission critical and every stakeholder in the MICE industry must make their moves now!’
It’s an emphatic opinion. There is plenty of data around the industry but are MICE industry organisations analysing it, acquiring valuable insights and using it to develop their business? Only they knew.
From a meetings industry PR perspective, the rise of big data and data analytics is a great opportunity. Research, surveys, data analysis have long welcomed by the media and generate many articles. Good analysis can spark fascinating insights that highlight interesting trends, issues and opportunities.
A good case in point is the Global Economic Significance of Business Events research and data analysis by Oxford Economics in 2018 for the Event Industry Council, with the support of Hilton Hotels, IMEX, the MPI Foundation, and the PCMA Education Foundation which revealed that business events worldwide is a $1 trillion industry, comparable in size with the consumer electronics sector.
This was a valuable insight for the meetings industry and meetings industry PR that resulted in high profile editorial worldwide.
The more data, the more data analysis there is, the more good news and insights that the meetings industry PR professionals can share with the media and the world.