Where is MICE technology heading?
The fast development of MICE technology today means that, the sooner players embrace new solutions, the more successful they’ll become. This is particularly true in a field that faces a number of challenges and transformations derived from digitalization and the current complexity of the global economy.
MICE technology is directly related to increasing efficiency in event planning and management and leading to more successful enterprises. But where exactly is technology innovation going for the MICE industry? Keep reading to find out.
The Importance of MICE Technology in the Events Industry Today
MICE technology is generating a number of enhancements and advantages for early adopters, including:
- Efficiency and streamlined processes that save time and costs. For example, platforms such as Spazious are helping companies move on from manual bookings and schedules to automated, smart processes.
- Better and more engaging event experiences for attendees, including the use of technology-driven possibilities such as mobile event apps, personalized schedules, or interactive floor plans.
- Enhanced data management, helping event organizers collect and analyze data to take better-informed decisions
- Better, real-time communication that facilitates operators to be more flexible and respond more quickly to potential last-minute changes
Overview of MICE business today
Even though the business of MICE generates high revenue for hotels and resorts, its management continues to be quite complex. The main reason is that Meetings, Incentives, Conferences, and Exhibitions are managed with offline processes.
The events and meetings segment needs to start using technology and digital tools. In addition, train their sales, marketing, and staff team. This process only makes sense if all stakeholders cooperate and understand how technology can help them.
Some characteristics of the main MICE business:
- Lack of knowledge of digital tools.
- Offline sales processes. Still using Excel.
- A high number of RFPs. Event planners make many connections and requests for information, as they do not have digital tools to quote their events.
- Small sales teams. Time is spent on site inspections and responding to RFPs.
Key Trends in MICE Technology: the future of MICE
The Potential of 5G in MICE Technology
5G represents the fifth generation of cellular network technology, which will provide a maximum network speed of 20Gbps.
When applied to the MICE industry, this will bring benefits in terms of better supply network and WiFi service, particularly in events with big numbers of attendees. This also enables real-time communication and streaming even in network-consuming events. 5G will also play a role in enabling the use of augmented and virtual realities.
The Role of Artificial Intelligence in MICE Technology
Artificial Intelligence is being applied as part of MICE Technology to generate innovative attendee experiences. This technology is also involved in streamlining event planning processes and guaranteeing events run smoothly.
Examples of AI applied to MICE include:
- Use of chatbots for supporting attendees
- Increased personalization
- Informed decision-making thanks to predictive analytics for attendee behavior and preferences. This includes offering personalized services
- Facial recognition for security control during events
- Event planning, by automating repetitive tasks and saving time for human teams
The Emergence of Virtual and Augmented Reality in MICE Technology
This represents another exciting development of MICE technology. Event planners have been quick to experiment adding virtual and augmented reality experiences for attendees. But the use of this technology goes beyond the event celebration. In fact, its main application today is in the generation of virtual tours.
Furthermore, this virtual technology optimizes processes, allowing event planners to make remote site inspections that are both informative and engaging. At the same time, hotels save time and resources in this area, as virtual tours can be shown multiple times to multiple potential clients. All this takes place while saving money related to staffing and providing a unique, innovative experience for potential bookers.
The Advancements in Data Analytics and Event Insights
Gathering data through MICE technology helps hotels, resorts, and independent venues access valuable information to improve their processes, including:
- By capturing real-time feedback, it’s possible to improve an event while it’s taking place in many areas. But data collection and reports also help enhance the post-event experience.
- Generating accurate attendee profiling that can then be employed to personalize event experiences and generate more effective marketing efforts. This process can also be reversed by using predictive analytics, anticipating attendee behavior and preferences.
The Integration of Wearable Technology in MICE Events
Wearables are another key trend in MICE technology.
Devices such as smart watches, smart clothing, head-mounted displays, and technologies such as Bluetooth are generating more engaging and personalized experiences for attendees. For instance, they can provide personalized schedules or recommendations and notifications.
For operators, the use of wearables also opens the door to more effective access control protocols: for instance, attendees may gain entry to events and sessions without the need for physical tickets or badges. Their use also extends to improved safety throughout the event.
The Benefits of MICE Technology
Increased Efficiency in Event Planning and Execution
MICE technology is effectively streamlining event planning for operators, by automating certain tasks, reducing human errors, and generating better-informed decisions in event planning, such as venue selection, vendor management, and scheduling.
Enhanced Attendee Engagement and Interaction
A well-organized event means greater attendee satisfaction. At the same time, leveraging certain technologies such as wearables or the use of AI helps provide personalized, more satisfactory experiences.
Cost Savings and Improved ROI for Event Organizers
MICE technology is directly related to cost savings and an improved ROI thanks to automation and enhanced decision-making processes. At the same time, MICE software is able to accurately measure the return on investment (ROI) of events, a crucial aspect to justify future investments.
Want to be updated about the future MICE technology developments and start using the latest technology to manage your meetings and events? At Spazious, we help companies embrace technology to enhance their booking and scheduling processes.
Spazious is an i-SEM (immersive sales and events management system) that includes:
- A booking engine for events and meetings. Start capturing real-time bookings through your website.
- Sales and catering. From the platform, you can manage all your deals and include all the options available for event planners. We just developed a dynamic revenue management module, interesting for your long-term revenue strategy. Plus, if you already work with sales and catering software, we can integrate with it!
- Immersive 3D diagramming platform. Easily your sales team and event planners could use this intuitive platform to set up and personalize their events at your spaces. Thanks to this feature, you will avoid misunderstandings and site inspections.
Spazious has been designed and developed by and for hoteliers. We understand hoteliers’ needs and the MICE business. Our technology will continue growing according to hotels and venues’ challenges and growth objectives.
Get in touch with us and learn how our platform is helping businesses in the MICE industry use technology to stand out among their competitors and increase their efficiency.
