Why big data is the future for virtual event platforms

This is an extract from the blog of Dennis Shiao “It’s All Virtual“. You can read the whole article here: http://allvirtual.me/2013/05/18/why-big-data-is-the-future-for-virtual-event-platforms/

“The future for virtual event platforms is to pair the data they generate with third party data sources to generate comprehensive event intelligence.
Let’s consider reasons why Big Data is the future for virtual event platforms.

Data is no longer in one place.

In the early days, data generated by the virtual event platform was theone and only source of event data. Along came social media and attendees began to tweet, post and pin their way around (and often outside) the event experience.

Throw in hybrid events (which have a corresponding face-to-face event) and you have another universe of data being created “on site” (check ins, user-generated video, badge scans, etc.).  The reality is that event data, even for virtual events, is widely dispersed. To drive true event intelligence, “someone” needs to coalesce that data and make sense of it. For me, the virtual event platform should be that “someone.”

The ever-elusive “ROI” can be defined up front.

Virtual event planners still struggle to answer the question, “how are you measuring [and proving] ROI for your virtual event?” One reason is that the planner doesn’t quite know how to measure ROI. The other reason is that tools aren’t readily available to do so. By working with Big Data, virtual event platform providers (and the event planners) can define the ROI model when the deal is sold.

I imagine the platforms providing both standard and custom “ROI packages.” Standard packages could be “sentiment” (for internal, HR events) or “retention” (for training events). Using “pre” and “post” data, planners can now make statements such as, “our virtual town hall meeting drove a 45% increase in employee satisfaction.”

When you define, measure and prove ROI, it’s more likely that this year’s virtual/hybrid event will happen again next year (and the year after that).”

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