Monetizing the data resident in the activities
of the members of associations is often a self-funding initiative. HKA has built and maintained member-based databases for the mutual fund industry, the industrial supply industry and the real estate industry.
These initiatives can be because the data can be sold to companies supporting the industry or the members themselves.
These opportunities are complex and often require ongoing data and cleansing.
HKA handles all these issues, often employing AI solutions to extract data from diverse sources.
Two of HKA’s largest initiatives created large sector specific companies creating and managing value for their owners; Fundata Canada Inc. and Insite Real Estate Information Systems. These were initially formed by the sectors’ respective associations; The Investment Funds Institute of Canada (IFIC) and The Building Owners and Management Association (BOMA). In large associations, chances are the data associated with your members or their activities is either being managed poorly; or worse, fails to take advantage of any monetizing opportunities. Associations that seize the opportunity to become stewards of their industries’ data establish themselves as the source for industry data; and confirm their industry leadership based on accurate data and analytics. As time passes, the value and depth of the data form an asset that cannot be matched. Cost mitigation is achieved by streamlining back office operations for the association, or by selling industry related data to members and third parties.
Call HKA Data for a free consultation and objective view of your association’s data opportunities.
Also see: Canadian Anesthesiologists' Society
Volume 36, Number 6 (1989), 722-727, DOI:10.1007/BF03005430