Posted by & In Big Data, Business Intelligence, CRM, Ticketing, Ticketing Integration, Web Development.

What should your next promo code be and how should it be utilized? Get this information and more by aggregating your customer data with a more comprehensive database. Do you feel your organization has insufficient data to predict trends and shifts in your target market?

LockData is pleased to have had the opportunity to attend the largest, most valuable industry event of the year for ticketing professionals, INTIX 2014.

The Conference kicked off with a very inspiring and motivating keynote by Garry Golden. Garry, a Futurist, spoke about three topics that are largely affecting the ticketing industry: demographic transitions, data-driven relationships, and device driven experiences. This was a great introduction to the largest themes of the event, the most prominent one being data-driven relationships, or Big Data.

Another presentation titled, Big Data, Big Lessons, broke down Data into three dimensions involved in leveraging data for your business. These dimensions are data management, business intelligence, business management.

After years of collecting data from consumers in the ticketing industry, such as; purchasing patterns, social trends, and demographics, venues are beginning to utilize this data for better customer service and target marketing. By using genuine, relevant data venues can get closer to their customer base and build stronger, more sustainable relationships. This data also helps management make more educated decisions in the areas of marketing and operations.

What should your next promo code be and how should it be utilized? Get this information and more by aggregating your customer data with a more comprehensive database. Do you feel your organization has insufficient data to predict trends and shifts in your target market?

Ticket sales companies are being excepted to be increasingly innovative with their internet technologies. More tickets are being sold online than ever before and to stay competitive in the market, industry leaders are making it easier and more appealing to purchase tickets through the web. These shifts are what is causing the concentration on big data. Internet tycoons like Amazon.com and Google have been using big data to better target customers for years. When you purchase something from Amazon, they store that information in order to suggest similar purchases. This personalized touch is a huge win with consumers, not to mention, great for their bottom line!

Every single piece of data that is collected from each one of your patrons is valuable. We must begin thinking that way. Storing, synchronizing and accessing these pieces of data can be challenging. Data is brought in from several different systems. Refreshment POS system, box office software, sales software. In order to make the data usable, it must be easily understood and digested. Integration and database development can solve this dilemma. Stop asking “What is happening?” and start asking “What is the best outcome?”.  The difference between descriptive, predictive, and prescriptive Business Intelligence is vital. The more data your organization has, the more you can move from descriptive to prescriptive/adaptive BI.

All of this means that the traditional CRM (Customer Relations Management) approach is being “revolutionized” to collect more, relevant data. New and innovative CRM solutions are able to capture all of the data needed to make the right decisions and increase revenue. This data is then presented in user friendly reports. WIth the right information, data can be converted to action quickly. You always knew there was an important reason for holding on to all of that data. Now is the time to put it to good use!

Have you outgrown your current CRM? Are you receiving all of the data you need to make intelligent decisions about the future of your organization? Give us a call today to learn how we can help grow your business.

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