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Virtual Discussion from 4/16/20 with Association Analytics and NAFSA It’s become more urgent than ever for Associations to have the ability to listen closely to member feedback and use it to drive content creation in real-time. Listen to this discussion with Kyle Contrata from NAFSA to hear how they are leveraging real-time data to inform their content strategy to remain relevant. We discussed strategies and tactics your association can start leveraging today to embrace digital transformation and data analytics. We explained why every association needs to be preparing its business to operate online and why you need the technology to measure business performance and inform key decisions using data. By listening closely to what members are saying and doing, we can deliver new and better products, services, and content to our members. ------------------ Transcript: "... 5:22 we're gonna be talking about some analogs in actual life to help you understand the data science behind him and then Kyle's gonna be talking about the data science and the actual work he's doing right now leveraging data to help unpack those topics and bring that insight to his organization so these are the type of questions most associations could be asking prior to covid but now that we live in this covid 19 sort of world the answers we feel are even more valuable today than they were in the past the kind of decisions you're making right now as an organization are gonna have echoes down the road and you're gonna impact your business moving forward for the next several years um a few things to think about is your team has limited capacity right now so what are the most important things you should be working on today they're gonna impact your business how do you create those priorities and a lot of organizations make significant amount of revenue from their physical events their physical courses from things in person right now people have to do online learning they have no choice if they want to maintain their certification and it's sort of pushing people to do things that they wouldn't normally do we're gonna talk about in a little bit there are some people whose typical modality was a physical meeting and now they're in the virtual world so how do we keep that momentum going and when we go back to having physical meetings we still have a large portion of people who are attending our virtual meetings how do we kind of diversify and make our organization more robust that's what we're gonna cover today in three primary topics the first one we're gonna talk about is a market basket analysis now I'll get is started with the topic and then Kyle and I are gonna discuss how he did a market basket analysis for his organization so what is a market basket analysis the first idea is if you see you know Greg in the shopping center and he has put the Tostitos chips in his shopping cart you might say well it's pretty obvious what other items on the list here Greg is gonna purchase he's probably not gonna buy the potatoes or the milk or the yogurt he's probably gonna be purchasing items that are related right I'm probably gonna be buying the salsa the margarita mix these are the things that make sense to us however how do we translate this to your organization it may not be as obvious for you what products and services and courses you offer really fit together for the members so call I'm gonna tag you in here and I want you to talk to me a little bit about what you did with the market basket analysis so I think taking a step back with market basket analysis the key thing here you made a great point about chips and salsa and margarita mix but what market basket analysis is really useful for is quantifying relationships between products that aren't obvious so you know you would expect to buy chips and salsa together but you might not expect to buy you know tortilla chips and I don't know cheddar cheese so what it does is it allows you to quantify those relationships to identify which products belong together which products have cross-promotional opportunities and it becomes really important when you step into sort of the Association world where relationships among products are infinitely less obvious you know we don't really have a chips and salsa we have workshops and elearning courses and publications that may or may not you know have obvious relations with one relationships with one another and so you know the purpose of the market basket analysis for must was a to reaffirm our assumptions if we had any about which products go together you know there are obvious ones for our association where we have thematic sort of knowledge communities and so products within those knowledge communities sort of you know are obviously gonna belong together and have high Association rules and but what you know what we're really looking for is those relationships between products that don't necessarily fall into that obvious connection 9:36 ..."