Companies are using data to plan their business strategies and are investing in analytics software to assist them. When we think of data analytics in organizations, we usually assume that it is related to customer experience, financial performance, or marketing campaigns. But what about meetings? Yes, business meetings can be enriched with the help of data.
Executives spend more than half of their working hours attending meetings. Many senior managers have said that meetings tend to be unproductive and ineffective. In fact, such unproductive meetings lead to slower progress, weak relationships with clients, lack of clarity, extra costs, and less time to do other work.
However, when conducted well, meetings can be of great value to organizations. Many companies have adopted meeting room management systems as part of their workspace management strategy. Data insights from software can be used to make meetings data-driven.
Insightful Data from Meeting Room Management Systems
Organizations are taking great care to incorporate workspace management into their business plans. It is necessary to have a single, comprehensive workspace management system in place to ensure that employees across locations and time zones are able to work efficiently together. A good meeting room management system provides extensive reports, and these contain a gold mine of data. If used correctly, this data analysis can help in making critical business decisions. How does one go about it? What are the benefits?
Effective utilization of office space is critical. With real estate prices rising, organizations must ensure that they have the right amount of office space without compromising on either cost or employee engagement. Data reports on room usage can help with making decisions about office real estate. These reports show real-time and historical data related to space utilization. Organizations can find out how many rooms are really needed for meetings, whether certain rooms can be put to use differently, and which teams need more space.
We have already established that employees spend more time in meetings than is actually needed. With data reports from meeting room management systems, you can track the exact amount of time taken up by meetings. You can also categorize it on the basis of different teams, rooms, dates, etc. For instance, the sales team could be having the greatest number of meetings, and the finance team might conduct meetings at the end of each quarter.
In an ideal working environment, employees should be able to work effectively and collaboratively. Internal team meetings, cross-functional team meetings, and all-hands meetings are all very common in most organizations. Tracking the meeting data from each team can help the organization as well as the employees. You can identify which team needs the most space, which team requires the most meeting hours, and which teams work together the most. This data is even more useful if your organization works in shifts.
Data analytics can provide some great insights that can lead to highly successful meetings. Organizations can use these reports to ensure that they conduct productive and effective meetings, and also keep their employees happy and engaged. Rendezvous meeting room management system from NFS delivers an excellent meeting room management system that not only provides easily accessible data reports but also much more. Book a demo to understand how you can improve your workspace management strategy.