Each Labor Day weekend, analysts discuss the impact of gasoline prices and other factors on travel driven by an extra day off and the symbolic end of summer. Some estimates indicate that a greater number of travelers by car saved a collective $1.4 billion this year, much of which was spent elsewhere during trips.
Data is one of the most important assets an association has because it defines each association’s uniqueness. You have data on members and prospects, their interests and purchases, your events, speakers, your content, social media, press, your staff, budget, strategic plan, and much more. But is your data accurate and are you using it fully? Your data is an asset and should be carefully cultivated, managed and refined into information which will allow you to better serve your community and ensure you remain viable in today’s competitive landscape.
Sometimes when an organization begins a business intelligence initiative (BI) they are so excited about data visualization and data transparency in the form of dashboards that the first thing they want to do is start measuring everything. I believe that strategy comes before measures and those organizations that thoughtfully and purposefully align what they are measuring to their strategic plan achieve more meaningful long-term results from their BI initiative.