Establishing best practice data management for our facilities partner

Client:

Based in Tasmania, our partner is emerging as one of the major sports and events venue management businesses in Australia. Over the course of the next 5 years, our partner will manage stadium and arena facilities for more than 10 venues across Tasmania, highlighted by the showpiece currently under development, Macquarie Point Stadium. They have successfully managed acquisitions of two assets to date, and are looking to utilise data to drive decision-making across all facets of their operation.

The Problem:

Our partner was established in 2022 to manage the future of sports and events facilities across Tasmania. They are planning to have more than 10 assets under their management by 2028, all with differing operating models and strategies. As such, they are facing challenges to get a clear and consistent view of historical performance at an asset level, and more importantly, struggling to create an efficient process to make decisions, to ensure seamless amalgamations in the future.

The Solution:

A data strategy – Split into short-term and long-term objectives. Our short-term objective was to build a set of automated forecasting models using data collected across four strategic pillars, ensuring replicability of data capture, and secure and consistent data storage to ensure models were able to be quickly updated and modified. Leveraging our short-term data capture process, we are continuing to scale up data warehouse requirements and putting into place key business performance reporting. In addition, a data committee is now meeting fortnightly to ensure clarity and consistency in data management across all areas of the business.

The Outcome:

Our automated forecasting models empower the COO to gain real-time insights into key revenue drivers from stadium patrons, enabling precise cost management for resources like security and food and beverage staff. With the ability to forecast revenue and costs per patron using reliable historical data, this tool ensures accurate financial planning. Going forward, the executive team is recognising the value of a solid data foundation, allowing them to make informed, data-driven decisions instead of relying on instinct alone..

Next Steps:

We are working with the leadership team to ensure they have the right data at their disposal to make the right decisions pertaining to stadium development and ongoing management. This includes continued optimisation of the data pipeline for internal and external data. In addition to this, we are also rolling-out data literacy workshops to new team members, to ensure a data-driven culture is fostered as our partner grows.