Unlocking the Potential of Smart Venue Solutions

The event industry is ripe for disruption by smart venue solutions that synergize high-density sensor networks and environmental data collection capabilities with intelligent software platforms. As an entrepreneurship consultant who works closely with SMBs in the hospitality, music, and convention center industry, I witness first-hand how this technology transformation can deliver outstanding value.

The Power of IoT and Sensors

Internet of Things (IoT) refers to an ecosystem of networked physical objects capable of gathering, storing, and exchanging data over the internet. When implemented in hospitality and event venues, an array of sensors can collect environmental data related to temperature, noise, foot traffic, occupancy, and more. Powered by connectivity protocols like WiFi, Bluetooth and LPWANs, data allows observing and optimizing venue operations and experiences in real-time.

Key Components of a Sensor-Driven IoT Stack

  • Occupancy Sensors: Track real-time attendance to optimize crowd flow and staffing
  • Asset Tracking Sensors: Locate event equipment to reduce losses
  • Temperature & Humidity Sensors: Monitor ongoing comfort requirements
  • Noise Level Sensors: Identify sound check issues or infringement zones
  • Pressure Sensors: Help track vehicle movements in loading docks
  • Integration Hub: Collates and processes data from all sensors

Venue Management Software – The Brain of Smart Venue Operations

Purpose-built venue management software, especially from companies like Skedda and Tripleseat, act as centralized analytics-driven command centers to extract value from sensor data.

They incorporate features like:

  • Booking Management: Optimize scheduling with occupancy insights
  • Staffing Tools: Align labor to event needs based on traffic
  • Inventory Tracking: Combine insights with asset monitoring data
  • Workflow Automation: Trigger environmental changes based on runtime data
  • Experience Optimization: Identify and resolve pain points

Key Benefits – Efficiency, Agility, Personalization

Smart venue solutions deliver outstanding ROI by driving efficiency, making operations more agile while allowing teams to deliver personalized experiences.

According to Grand View Research, global smart venue management industry will reach $16.51 billion by 2030, expanding at 21.3% CAGR, demonstrating the solutions‘ increasing value.

Real World Success Stories

Large chains like Marriott leverage smart hotel solutions to optimize energy usage while venues like Brooklyn Mirage implement end-to-end systems comprising sensors, analytics, automation, and control capabilities that create smoother operations. Small event centers have also benefitted as 65% report faster daily pre-event preparations after adopting software.

Key Considerations for Technology Rollouts

Based on hands-on consulting assistance provided to over 100 SMB end-users, I recommend:

  • Carefully evaluating several software solution providers before selection
  • Gradually rolling out adoption across departments via pilots
  • Budgeting for upfront sensor costs, network upgrades, and user training
  • Working with staff during transitions to ease change management concerns

The convergence of IoT and software creates a foundation for the event industry to offer immersive, interactive, and elevated experiences. Both entrepreneurs and enterprise players stand to unlock tremendous value by embracing smart venue solutions.