Revealing the Power of Machine learning & BI in the Event Technology Industry
According to Forrester research, over 85% of the impactful event technology software have the potential to perk up the overall experience of the event creators. Thanks to the influential Machine Learning and Business Intelligence that has successfully marked their presence in the automated event technology industry. For instance, the Social Media Walls showcasing posts, shares, tagged photos, and event hashtag are fast becoming the foremost event tech trends of 2019. Studies speculate that the event marketers will hold up many such event technology alternatives to inspire the attendees at every level of the event. Thus, the diversely digitized event formats of the existing era have the skill to expand beyond attendee management, attendee engagement, event marketing, virtual conferencing, and managing over 50,000 guests visiting the event.
Top ML Based Event Technology Trends For 2019
Facial Recognition & RFID
Facial Recognition Event Technology Software exploits algorithms for calculating facial features, body language and expressions of the event goers. It suggests Facebook users tag their friends, post feeds, share photos, and tap broader audiences. The pervasive use of the facial recognition technology helps predict attendee’s mood by reading facial expressions leading to the fastest and security-driven event check-ins, feedback resolution, etc. The Radio Frequency Identification (RFID) makes event management dump physical payments like paper tickets. Very soon, all the event organizers will not only use radio waves for upgrading sponsorship but also enables event enthusiasts to join an event virtually using raffles or polls.
Live-Streaming, Crowd Streaming & ML Plug-In
Majority of the event management clubs are busy taking learning lessons on Live-streaming an events for expanding the customer-base beyond event capacity. If you couldn’t physically attend an event, you can accept the live-streaming invitation shared by your friends from afar. Periscope and Facebook Live helps thousands of attendees broadcast their personal experiences, define an event hashtag, and encourage people to use Crowd Streaming Technology for business prosperity. The ML’s Matchmaking Engine incredibly helps the matchmaking vertical as it best reads users’ data posted in their social media profiles and finally offers personalized recommendations to the matched partner.
Captcha, Chatbots & Robotic Process Automation (RPA)
The online security system like CAPTCHA Technology also known as Generative Adversarial Networks (GANs) creates and authenticates images. Many event management firms will keep their options open for adopting the ML enabled CAPTCHA in 2019. The event technology like Chatbot is helpful for the attendees and event firms. With a great success rate, bots on Facebook Messenger offers instant gratification to those receiving rapid response to their queries. Using RPA, an extended form of machine learning technology, event creators can automate their manual data transferring tasks, event publishing, new audience discovering, improving user experience, and scaling their business efforts.
Top Business Intelligence Based Event Technology Trends For 2019
As per the Gartner research, business intelligence is estimated to be the top trending event technology in 2019. According to it, a poor or bad data quality occurs due to the absence of BI that could cost firms up to $15 million losses per year. For this reason, the top event management leaders want to see “quality” which will be realized only with the use of business intelligence.
Data Discovery & Data Quality Management (DQM)
The BI practitioners firm on business empowerment will use Data Discovery Tools to study the relationship between data, visual analysis, and advanced analytics for decision-makers. Data Quality Management that trended greatly in the past is becoming an uprising business Intelligence trend for 2019. With no BI system, many event management entrepreneurs had reported plentiful errors, low-quality reports, the disparity of data sources, data type complexity, and data integration impacts. Thus, implementing company-wide BI is helpful in reviving firm’s ability to thrust business to a maximum height.
Connected Clouds For Data Privacy
Connected Network Business Intelligence has got to do much with the event sector. Event industry speculates that from 2019 onwards, the cloud will carry on its reign with about 70% of event management entities using business Intelligence. Quiet like Alibaba, many will install BI elements for holding data sources, data models, analytic models, computing, and data storage in the cloud(s). After AOL and Compass Bank witnessing incidences of the Data Breach, Gartner had tracked numerous Data Loss Cases and Mastercard Scams. That’s’ why the smart event organizers now looking for the secured BI apps that can grow business without jeopardizing security.
Collaborative BI & Predictive Analytics
We see the growth of the Collaborative Business Intelligence united with social media, 2.0 technologies, and collaboration BI tools to provide executives with optimum interactivity. The self-service BI makes event creators do more analysis, get reports, make collaborative decisions, e-mails exchanging, BI alert setting, sharing dashboards, and connect to greater systems, and larger sets of users. In contrast, the Predictive Analytics will by and far become the stylish BI trend to be adopted by the big and small event management associations flourishing in the event industry. Application of this tool permits this industry do data assessment, detecting threats, cross-selling tickets, predicting attendees, occupancy rates, and profits.
Undeniably, the most sought-after event technology software added with ML & BI is becoming the necessity of the global event industry. Over 75% of the Fortune 1000 firms now depend on event technology software services for planning, execution, and conclusion of their global summits, conventions, fashion shows, trade shows, and what not? With a lineage of event technology software in the market, the event-savvy groups keep their excitement alive for owning event-friendly software for their business. BizAcuity supports the organic use of technology in every domain including the event industry to help it achieve unmatched event results.