Frequently asked questions

How do I submit my data?

You can either submit your data via a secure online portal (where it will be anonymised) or you can send your data in a spreadsheet. Both methods are safe & secure.

What happens if my system doesn’t record that information?

Most venue management systems record the data in a structured way. We have experience of most so get in touch and we'll be able to help you extract the data.

What is a ‘Comp Set’?

A comp set is a collection of venues who you consider to be your closest competition.

What are the GDPR implications?

We don't collect personal data, only numbers, so GDPR rules does not apply.

How do I know you won't use my data for any other reason?

Your data is 100% secure.
Your data security is all set out in the legally binding data agreement

What if I want a report that is not part of the standard reports?

We can create a wide variety of bespoke reports, which many venues find useful for specific reasons: management meetings, research, strategy, competitive analysis etc. Simply discuss your needs with the team and we'll create a timeline and pricing structure bespoke for you.

Why hasn’t this been done until now?

Venue Performance has for the first time applied cloud-based data, algorithms and AI to take advantage of its data and experience. This is because we have invested significantly in technology because we recognised there was a vast amount of hidden value in the data we have been collecting.

What is actionable data?

There is little value in data for the sake of data and bar charts alone. Instead, we only surface useful information that can guide your actions. Consider, for example, output that shows your F&B pricing is lower than your competitors for events in general but lower for banquets. This would empower you to investigate whether your pricing is off or your quality of F&B is below par and could lead to low bookings in the future.

How and when do I get my reports?

Your reports are available 24/7 via your secure online login.

How many venues = a Comp set?

You can have as many competitors as you wish in a comp set but it must include a minimum of 5 to ensure anonymity.

When do I need to supply my data?

You need to supply your data within 7 days of the previous month end.

How secure is my data?

Your data is 100% secure.
Before onboarding your venue, we ensure you have read and signed the legally binding data usage agreement which clearly sets out the T's & C's of the data usage.

What does the data mean?

There are many conclusions you can draw from the data.
Whilst each venue/business is unique, most venues focus on their own results compared with industry averages and use that data to make internal decisions on pricing and sales strategy.

How else can I benchmark my performance?

There is no other service that’s collates data across the whole sector or enables you to compare performance against your competitors. We can do this because we have been surveying clients of Venue Performance for over a decade and have gained the trust and know how to do so.

How accurate is Performance Radar?

Performance radar is an indicator of where you should pay attention. Based on the data you provide and our comparison with sector and competitor information we can tell you where there are anomalies. These may point towards things going well or not so well and indeed you may well suspect there is an issue that needs attention already. This is to help guide your attention. As our algorithms learn more we will be able to provide ever more actionable data.

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