PCMA’s New BEAM Tool Will Help Event Professionals Analyze Data
June 18, 2019
Event professionals, organizations, hospitality providers and destination organizations now have a new way to gain holistic insights into industry trends and behaviors in the form of a new data analytics tool developed by PCMA.
Revealed at IMEX last month in Frankfurt, Germany, BEAM (Business Events Analytics/Metrics) is designed to provide a comprehensive view of the business events industry by leveraging a portfolio of data sources to better understand individuals, organizations and face-to-face events. The data will help predict behaviors of business events participants, which in turn can help professionals deliver a more strategic, engaging and relevant experience, according to PCMA officials.
“We wanted to create a unique product unlike any other in the marketplace to unleash the extraordinary power of data to advance research, identify industry trends and create predictive analytics that will guide business event professionals to make informed and strategic business decisions,” said Sherrif Karamat, PCMA president and CEO.
The product will serve various purposes, including:
· Managing big data by organizing large, unstructured amounts of data that reveal patterns and trends, especially relating to human behavior and interactions
· Events insights from all industries that participate in business events including technology, hospitality, venues and destinations
· Industry insights that can be tailored to each BEAM participant’s needs
BEAM will also provide a data-hygiene process, allowing users to ensure their CRM data is not outdated, erroneous or redundant.
“This customized analytics engine is unique as it draws information from multiple data sources to provide the business events industry with exclusive insights and capabilities to explore data,” said Robert Haas, PCMA’s chief administrative officer, who is spearheading BEAM.
BEAM was developed by PCMA in partnership with Dallas-based data intelligence and marketing technology provider Infogroup, which will independently manage the data and analytics process to ensure the service meets data security and privacy standards.
BEAM participants will only have access to their own proprietary data, and PCMA will not have access to any data portfolio other than its own. In addition, any data intelligence or analytics generated by BEAM will not identify individual information.
“We are thrilled to partner with PCMA on this very important product,” said Don Welsh, president and CEO of Destinations International, which has signed on as PCMA’s marketing partner for BEAM. “This new tool will allow destination organizations to be smarter and have the ability to drive their own success.”
BEAM intelligence access will be granted on a 12-month rolling license. The product is in pre-sales mode and is slated to launch later this year. To learn more and to submit your interest, go here.
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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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