Those of you who attended the ASAE Technology conference may have heard Theresa Payton's keynote address, which mentioned Quantum Computing. I've been following the evolution of Quantum Computing for several years and believe in its transformative potential, so I’m excited to see it discussed in the association community!
The terms retention and renewal rate are often used synonymously when assessing how effective an association is at keeping members. Recently, in working on a data analytics project with one of our association clients, I was reminded that they are in fact different metrics. I thought this might be of interest and worth a share.
Some associations have already begun implementing processes and tools to glean actionable insights from their existing data assets, but many others are not quite there yet. There seems to be consensus on the need for more metrics and better data analytics, but we hear common themes in the reasons why association executives feel unprepared to begin the process of gathering, cleaning, prepping, analyzing, and ultimately acting on insights gained from their business data. Here are a few, and the reasons why you need to just go.