Business Intelligence for Industry Associations
Drive Member Growth With Industry Benchmarking
Gaining insight into industry trends is challenging for private companies. Business owners have few ways to access industry-specific data that can guide strategic decision making. As an industry association, you are uniquely positioned to provide your members with industry-specific data analytics that can help them improve operating efficiency and profitability. Industry associations across the United States utilize iLumen’s cloud-based industry intelligence solution to offer added value to their members. We will work with you to identify and capture relevant metrics such as revenue per bed, cost per student and labor cost per unit.
Peer Benchmarking
Equip your members with industry insights not available anywhere else. iLumen works with industry associations to custom design industry-specific benchmarking surveys. We will work with you to develop and execute member surveys including determining which metrics to measure across a relevant group of peers within your association. Many of our industry association clients conduct benchmarking studies at regular intervals allowing members to measure key performance indicators over time including:
Data Analysis Metrics
- Profitability
- Productivity
- Expenses
- Utilization
- Efficiency
Criteria for Peer Group Selection
- Size
- Region
- Number of units
- Revenue bands
- Other relevant metrics
In addition, we can easily add new metrics to capture changes in industry trends over time.
Industry Salary Surveys
In today’s competitive hiring environment, it is critical for business owners to understand how their salary and benefit offerings compare to their peers. Industry associations are uniquely positioned to offer their members salary benchmarking. Salary surveys allow members to assess the attractiveness of their compensation packages by comparing salary, bonus and benefits of a specified set of positions to industry averages and medians. The iLumen system makes it simple to compare compensation to averages of similar peers by revenue size, geographic areas and number of employees. Our salary survey tool can be broken down by several metrics, including:
- Job type/function
- Department
- Company size
- Geographic location
- Job tenure
- Gender or age
Conducting an annual salary survey for association members adds tremendous value and helps your members answer questions such as: Are our employees being fairly compensated compared to our peers? Is our benefits package competitive? Do we have a gender gap?
Real-Time Surveys
Give members timely insight into one-off but impactful events shaping your industry. Regulations, epidemics and erratic economic conditions often blur the meaning of internal KPIs. With the iLumen Market Pulse module, you can harness the power of peer networks to analyze and illuminate disparate observations into unforeseen, but unfolding, events. The module also allows you the ability to publish results directly to your website for easy access to members and no need for login information.
Insightful, Easy-to-Read Reports
iLumen provides a wide variety of highly visual reports that offer detailed insight into peer benchmarking studies and salary surveys. Reports can be easily customized by various demographics. Use reports to spot trends, identify weaknesses and uncover new opportunities for performance improvement and growth within your industry.
Association Member Education
Investing in the iLumen industry business intelligence solution creates educational opportunities to offer your members. Foster engagement and add value by producing white papers and webinars that provide members with up-to-date industry insights and trends that help them operate more efficiently.
If you would like to implement an industry business intelligence platform for your association, we are ready to help.
Our tools easily collect financial and non-financial data and minimize the time and expense of conducting customized industry surveys and analyses. Contact us today to learn more about this value-add for your industry association.