We're starting a monthly Guest Blog series, allowing you to hear more from team members across Hire Space. Our Account Specialist, Marcus Stanway-Williams, delves into the world of data and its use in the events industry.
Everyone is talking about data. Businesses across the world are waking up to the idea that a deeper understanding of what data is, and how it can be harnessed, will be instrumental in ensuring their success in the future.
Specifically, the data phenomenon we have witnessed in recent years is what is often referred to as ‘big data’. Advancements in computing in recent decades have allowed companies to create extremely large data sets, which can be analysed computationally to reveal patterns, trends and associations, especially relating to human behaviour and interactions. The commercial value of what can be learnt from this data is infinite, and as time goes on, the quantity and quality of this data will only appreciate in value.
Whilst young in years, Hire Space was born into the era of data. We are uniquely positioned within the industry as the middleman between event bookers and 1000s of venues across the UK, and we profile these daily interactions to reveal patterns and trends within the industry as a whole. Coming into our fourth year, we have been able to build and to develop a comprehensive understanding of the UK events calendar each year. Whether it’s large financial corporations preparing for Christmas parties in January, or media companies snapping up conference venues for Autumn in April, we know who books what, and when and where they book it.
The standalone value of knowing when and where certain individuals at certain companies book up their corporate events may seem trivial, but by aggregating 1000s of these interactions each year we have a valuable data source required to sculpt our annual marketing agenda. The ability to make marketing and sales decisions based on statistical evidence is a powerful asset to events professionals.
It will be interesting to see how data will sculpt the future of the events industry, and see which of its players will take the opportunity as technology and the ability to capture data and interpret its value improves.
For further information, or if you have any questions about how we can help with your strategy, just get in touch with one of the marketing team at promotions@hirespace.com, and we’ll catch up over a coffee.
