Data Plays Big Role in Future Trends Tracked by IAEE
December 9, 2014
The International Association of Exhibitions and Events has released an updated version of its white paper, “Future Trends Impacting the Exhibitions and Events Industry”, created by the IAEE Future Trends Task Force, chaired by Francis J. Friedman, president of Time & Place Strategies, Inc.
Originally released in 2013, the report identifies and addresses major trends that will impact the exhibitions and events industry within the next three years.
"Trends that we reported in last year's white paper are now maturing and appearing more consistently at exhibitions and events," Friedman said. "We recommend referring to last year's report for what is happening now and using this updated version to prepare for what's coming over the next three years."
Friedman noted that one of the major updates in the 2014 edition addresses the area of data; mainly in the capturing, converting and use of data obtained from attendee on-site activities.
The use of mobile apps, NFC (Near Field Communications), RFID badges and iBeacon to capture data are becoming more prevalent.
Once the data has been captured, however, the challenge becomes organizing the data in a format that allows for maximum use of the information. The final step of the process then involves converting the data into tactical and strategic plans for future shows.
"Last year's report predicted that Big Data would move down in scale for smaller marketers to use," Friedman said. "Now, we are beginning to see companies that provide BDaaS (Big Data as a Service) starting to become available to our industry in the near future."
“Future Trends Impacting the Exhibitions and Events Industry” also addresses the impact of the economy not only within the U.S., but on a global scale as well. For example, a recent CEIR study predicted overall economic growth in the 3 percent to 4 percent range with attendee growth projected to be slower than exhibitor growth over the next three years.
"The Future Trends white paper is a wonderful resource for exhibitions and events professionals wanting to relate our industry's business market to the overall global business market," says IAEE President & CEO David DuBois, CMP, CAE, FASAE, CTA. "Show organizers in particular will want to take a look at how all this information can be used to maximize the overall experience for attendees at their event."
Click here to download the 2013 and/or 2014 editions of “Future Trends Impacting the Exhibitions and Events Industry”.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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