IAVM’s New Online Tool

The International Association of Venue Managers announced a web-based resource called VenueDataSource July 27 during its annual conference.

The IAVM online portal is expected to be rolled out incrementally through 2014. The first phase is an initial collection of profile data and operational expenses, according to a statement. More modules are expected to be added.

“Venue industry professionals are under constant pressure to outperform previous efforts,” said Barry Strafacci, chairman of IAVM’s Research and Knowledge Advancement Council. “Without pertinent, reliable business intelligence, managing the bottom line performance can be a trial and error affair.

“VenueDataSource mitigates the risk. This ‘go-to’ decision-making tool will be the ultimate resource for quality data comparison and analysis, allowing users to benchmark current performance with their peers.”

Ultimately, VenueDataSource.org will manage operating expenses; evaluate competitive set and position within the competitive set; determine efficiency of operations; understand effectiveness of partnerships; and recognize the value the operation brings the community, according to the statement.

The IAVM Foundation will contribute more than $650,000 to the project over three years. IAVM’s VenueConnect conference and trade show took place in Phoenix July 25-29.