If you saw our last blog explaining what data is, then you’re probably starting to see the amazing possibilities of what it can do and how it’s becoming more valuable. But just how valuable is data? Just how far can it take the endurance and event management industries?
In the past few years, data has begun to come at our industry at a much faster rate than in the past. What ACTIVE Network’s focus has been is to wrap our arms around it all.
That’s easier than it sounds though. When data is ready, it takes a trained statistical analyst to truly understand it. Analysts identify relationships among data attributes and evaluate them. When they find a connection, they create statistical models. Based on those models, they can generate analytics on a massive scale to derive insights and start predicting customer behavior. That’s the foundation of “Big Data.”
Data. It’s a technical word that programmers throw around a lot. But is it really anything besides ones and zeroes? Pieces of random information? Bits and bytes?
If you answered anything besides a resounding and earth-shattering “YES,” please go back and check your answer. Data, in itself is the next level up in the information chain. It’s the information you actually use to calculate, analyze, or plan. But you have to know how to evaluate, sift through and make sense of it to gain access to its secrets. When you do, you’ll learn the keys to success in any business.
We have some exciting news to share with our ACTIVE Network community. We’ve been listening to your challenges and successes around best practices for managing events, attracting participants and growing your organization. We know that having better insight into your customers, market and competition is valuable. It helps you make better decisions and, at the end of the day, increases revenue.
This is why we are pleased to tell you that ACTIVE Network will be introducing new, cloud-based data analytic tools, aptly named Activity Cloud, for its ACTIVE Works customers. The initial ACTIVE Network Activity Cloud™ modules will be available in late Spring 2015. We can’t wait to show you all the functionality when it’s ready for launch.