Empower Your Association with Data and Analytics
Data and analytics are becoming increasingly important for associations as they seek to make informed decisions and drive the success of their organisation. Here are seven trends in association data and analytics that you should be aware of:
The volume of data being generated by organisations is increasing at an exponential rate, and associations are no exception. For example, an association may have data on its members, events, finances, and operations. Utilising big data analytics tools can help you make sense of this large amount of information and extract valuable insights.
Artificial intelligence and machine learning.
These technologies can be used to analyse data and identify patterns that may not be immediately apparent to humans. For example, you could use machine learning to predict the likelihood of a member renewing their membership or to recommend content or events to them based on their past behaviour.
Visualising data in the form of charts, graphs, and maps can help make it more understandable and easier to communicate to others. Using data visualisation tools can help you create visually appealing and informative representations of your data.
Cloud-based data storage and processing.
Storing and processing data in the cloud can provide numerous benefits for associations, including increased security, scalability, and accessibility.
Data governance refers to the policies and practices that organisations put in place to ensure that data is collected, stored, and used ethically and responsibly. As data becomes increasingly important, it’s crucial to have a clear set of guidelines and policies in place to ensure that it is collected, stored, and used ethically and responsibly.
Data-driven decision making
Instead of relying solely on gut instincts or past experience, using data to inform decision making can help your association make more informed and accurate choices. For example, an association may use data analytics to identify patterns in membership renewal rates and use that information to create targeted retention campaigns.
Integration of data from multiple sources
In today’s digital age, associations often have data coming from a variety of sources, such as membership databases, social media, and event registration systems. Integrating this data can provide a more complete and accurate picture of your organisation and its members.
By keeping up with these trends in association data and analytics, you can stay ahead of the curve and make data-driven decisions that drive the success of your organisation. From big data and artificial intelligence to data governance and integration, there are many ways to leverage data and analytics to improve your association.
If you would like to connect with other Association Professionals and Industry experts to discuss association specific topics – just like this one – take a look at the Answers for Associations online community. The Answers community is a place where peers can connect and discuss sector related topics, share ideas, experiences, and resources, explore opportunities, and more.