Holy cow! AMS Fest is exactly one week away. We’re psyched about this sneak peek into what we think will be one of the best sessions of the day. We sat down with Prabhash Shrestha, VP of Technology for the American Gastroenterological Association, about the power of data. If you’re looking to justify your investment in your AMS, you need to hear what Prabhash has to say.
Here are some highlights from our conversation:http://kahovka-service.ru
ReviewMyAMS: Associations have TONS of data and run dozens of reports. How can associations make mountains of information actually useful?
Prabhash: It’s time to go from looking at data in bars and charts and move toward using it to drive decisions for what to do next as an organization. If we use the data to drive our strategic planning, product development, marketing, communications and calls to action, there’s a real business case for the information. It is very possible to turn abstract data into real revenue.
ReviewMyAMS: Anything we can do to justify our costly AMS is a win. Which AMS or data analysis tools do you recommend?
Prabhash: Honestly, it doesn’t really matter. There are many tools out there, but the technology choice is not nearly as important as what you do with the information. Plus, it doesn’t matter how much money you spend, no AMS does it all, so you’re going to have data in foreign systems to deal with, too.
ReviewMyAMS: Exactly. So how do we bring it all together?
Prabhash: Advance planning is critical. If you wait to figure out what data to collect, how you store it, or how you plan to analyze it until after the fact, you’ll have a mess on your hands. While IT will be responsible for the setup, integration and reporting, all association stakeholders must be involved in the planning process for IT to be able to implement a system that provides valuable analytics and meaningful reporting on the backend.
ReviewMyAMS: So are you saying that associations should start with the data or the business problem they’re trying to solve?
Prabhash: Bottom line – it’s time to look at data as a business asset. This is a big shift in mindset from an AMS being an entirely technology-driven tool to being motivated by both the technical need and business goals. But it has to be about more than just IT. It’s an association-wide strategy and commitment to thinking differently about the AMS and the data. It’s not always clear at the beginning what outcomes will be achieved. But, with a focus on the data as a guiding strategic component, the AMS can become a resource and an asset, not just another technology system to be managed.
ReviewMyAMS: Sounds so simple. Can you give us some real life examples of how you’ve seen this strategic approach work?
Prabhash: Absolutely. Really demonstrating that the technology itself doesn’t matter, back in 1999 or so, when I was at the Association of Trial Lawyers of America, our “AMS” was nothing more than an Excel spreadsheet. But by looking at our member data, we were able to create new products that resulted in $1.4M in ecommerce sales – a brand new channel and revenue stream for the association. Another great example is when I was with the Association of Fundraising Professionals. In 2008, the market crashed and our membership revenues tanked. Using our data as a guide, we launched new membership models that were specifically focused on increasing retention and engaging new members. Within 18 months, we had a serious rise in membership and a 94% retention rate. Our data analysis also led us to new ways to work with our 240 chapters nationwide and more targeted member marketing.
Want to learn more about how to make this business-oriented approach to technology a reality in your association? You can meet Prabhash on September 17 at AMS Fest! Only a few seats remain. We can’t wait to see you there.