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FISD Announces Jon Nietzell as 2022 Alternative Data Council Fellow; Thank You to Elizabeth Pritchard, Outgoing 2021 Fellow

FOR IMMEDIATE RELEASE

Contact: Tracey Shumpert, FIA Vice President, Membership and Programming tshumpert@siia.net

FISD Names 2022 Alternative Data Council Fellow

WASHINGTON, DC (January 13, 2022) – FISD is very pleased to announce that Jon Neitzell will be FISD’s 2022 Alternative Data Council Fellow. Each year, the Alternative Data Council names a Fellow who is a recognized industry leader dedicated to facilitating the growth of the alternative data industry though alignment on voluntary standards. Throughout 2022, Jon will be working closely with Council on standards creation and adoption, and providing education on trends in alternative data. FISD would also like to thank outgoing 2021 Fellow Elizabeth Pritchard. Elizabeth’s contributions were critical to the Council’s growth during her tenure, and we wish her well in her new role as CEO of Bitvore. We are also very gratified that she has agreed to be part of the 2022 World Financial Information Conference Program Working Group.

Jonathan Neitzell

Elizabeth Pritchard

About FISD – FISD is the global forum of choice for industry participants to discuss, understand and facilitate the evolution of financial information for the key players in the value chain including consumer firms, third party groups and data providers. It is a dynamic environment in which members identify the trends that will shape the industry and create education opportunities and industry initiatives to address them. For more information, visit fisd.net.

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Proposed Competition Bill Would Set a Dangerous Precedent and Weaken Consumer Welfare

WASHINGTON, DC. — Jeff Joseph, President and CEO of SIIA, issued the following statement:

“SIIA and our members support legislative and regulatory measures designed to maintain and foster a healthy digital ecosystem. We are concerned that the American Innovation and Choice Online Act, announced last week in the U.S. Senate, would have a detrimental effect on consumer welfare, on small- and medium-sized businesses, and on U.S. innovation and global competitiveness.

The bill would force consumers to pay more for free or low-cost services they rely on every day and set inconvenient barriers to access these services. Further, the bill would restrict the ability of small and medium-sized businesses to access tools essential to reaching customers and managing operations. This will likely increase the costs of doing business and result in higher prices for consumers.

This legislation sets a dangerous precedent. It appears targeted at specific companies in favor of specific business interests, undermining efforts to foster more innovation and competition in the United States.

Rather than devoting time to this bill, Congress should develop and pass balanced, comprehensive federal privacy law. A federal privacy law has bipartisan support and is essential to further consumer protection and foster a stronger innovation environment in the United States.

SIIA stands ready to work with Congress, the administration and other stakeholders to advance consumer privacy and promote innovation in digital technology.”

ABOUT SIIA:

SIIA, the principal U.S. trade association for the software and digital content industries, with over 450 members, is the largest association of software and content publishers in the country. We represent financial information providers, educational technology companies, publishers, start-up firms, and some of the largest and most recognizable corporations in the world.
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Statement on Justice Against Malicious Algorithms Act of 2021

The Justice Against Malicious Algorithms Act of 2021, introduced in the House of Representatives, is an extreme way to address a legitimate and critical concern – the spread of hate speech and misinformation. We need a thoughtful and consensus-driven approach to these problems that does not stifle innovation, regardless of the businesses’ size or popularity. The new bill is open-ended about what sorts of harmful content are creating problems, relies on standards that will be impossible to implement, and undercuts First Amendment values. We stand ready to work with Congress, the administration and other concerns to develop balanced and effective measures to combat the scourge of hate speech and misinformation.

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SIIA Hails Introduction of Restoring the America Invents Act

Today, Senators Leahy and Cornyn introduced the bipartisan “Restoring the America Invents Act,” which drew praise from the Software and Information Industry Association (SIIA). 

Ten years ago, the America Invents Act received widespread bipartisan support when it passed Congress because it created a less expensive way of determining a patent’s quality without the expense of litigation. When Congress passed that law, it intended that anyone sued under a patent (that was likely to be invalid) could challenge the quality of that patent without the prohibitive  costs of getting a court decision. 

During the last administration, the U.S. Patent and Trademark Office received widespread criticism for adopting an administrative rule denying requests for agency review if a judicial proceeding were pending.   

“SIIA, along with the retail, restaurant and many other industries, strongly supported the AIA’s passage,” said Chris Mohr, SIIA’s VP for Intellectual Policy and General Counsel. “The PTO’s past practice of refusing to review patents that it knows are reasonably likely to be invalid is a clear violation of what the AIA was intended to do.”  

“We believe this bill goes a long way towards both restoring the intent of the AIA and bringing increased transparency to the patent system by insulating administrative patent decisions from political interference.  We support this needed new legislation, and look forward to working with Senators Leahy,  Cornyn and other members of Congress as the process unfolds.” 

About SIIA

For more than 50 years, SIIA has united the information industries. Today, SIIA’s umbrella organization connects more than 450 diverse members who manage the global financial markets, develop software that solves today’s challenges through technology and provide critical information that help inform global businesses of all sizes. As the only professional organization representing Ed Tech, SIIA’s members bridge the gap educating students and the workforce driving innovation and growth.

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Behind Questex’s New ‘Modern’ Information Model: Combining Content, Data and Events to Go to Market Faster

Editor’s Note: Join Paul Miller at our virtual Business Information & Media Summit on Dec. 2 for a look at The New Go-to-Market Strategy: How Questex Launches Products Faster, Better and More Profitably. Join the discussion as Paul shows how Questex aligned internal assets to create a more efficient structure and leverages data to drive the entire process. Register here. 

In June, Questex announced the creation of a “modern” information services model that leverages audience data to tie content and events closer together to create a year-round customer engagement framework.

And as publishers scramble to make up for lost event revenue amidst the pandemic, the new approach also gives Questex the ability to launch new products and go-to-market at accelerated rates (think virtual events being produced over the course of a few weeks, rather than a full year, as with a live event).

Questex debuted the new approach with its Fierce Life Sciences group, aligning the Fierce content business with ExL Events, a Questex division acquired in 2016 that produces events in similar markets such as life sciences, pharma and healthcare, but until recently had operated as a separate business from Fierce.  

Tying events more closely to digital isn’t a new idea but one that hasn’t been well executed, according to Questex CEO Paul Miller [pictured]. “On a personal level, we’ve been talking about this for many years—how we combine different types of content and data and use learnings from that to bring together the community,” he adds. “We’ve almost gotten there a couple times in our past lives but not quite.”

 

Miller points to live events tacking on an online directory or virtual floor plan. “There’s nothing wrong with that but it’s not a real translation. Those of us coming from a digital background say, we’ve got all this data on content consumption, wouldn’t it be great if we use that to pull together conference programs around what’s trending.”

The Immediate Payoff

The new approach paid dividends almost immediately as Questex shifted to virtual events, with Fierce and ExL coming together to produce the Virtual Clinical Trials Online on April 22-23. The virtual event attracted over 2,000 registrants with 50 percent generated by the FiercePharma content websites. The sponsors saw over 600 booth visits and there were 2,800 downloads of content providing strong sales leads for the vendors.

“For the first time, we had complete collaboration between ExL and the Fierce team based on content, speaker recruitment and reporting on what’s going on at the event,” says Miller. “We’re thinking, let’s do things differently. If something is really trending, let’s change our conference program and launch it quickly, taking a couple weeks to plan rather than a full year.”

Elsewhere, Fierce is working with Arizona State U to launch a new virtual event in July for the education tech marketplace called Remote that will focus on how institutions are adapting higher education in the coronavirus era. The event already has “many thousands of registrants and high-level sponsors,” according to Miller.

With 70 percent of its revenue coming from live events prior to the pandemic, Questex hasn’t avoided a major revenue revision or the significant lay-offs that came with it.

But the Fierce group is up 20 percent year-over-year and there’s early evidence that the model can pay-off across the entire organization, including Questex increasing the overall number of webinars it produces (up from 199 in all of 2019 to 347 through May 2020), while its American Spa business capitalized on the CBD craze by launching a CBD-focused virtual event over the space of just four weeks, securing a quarter of a million dollars in sponsorships.

A Second Attempt at Reinventing B2B?

In many ways, the new Fierce approach borrows from Questex’s first attempt at reinventing the B2B media model with The Beauty Experience, a content and marketing platform that the company launched last fall for its beauty industry vertical that upended the “search and click” way of scrolling through websites by enabling users to choose specific content tags that they want to follow, which then serves up relevant content.

The idea was that the data produced by the feed and follow approach would help program events, identify prospects for sponsors and create opportunities to serve users beyond the events itself. Unfortunately, the Beauty Experience Event, scheduled for March 7, was one of the first to be canceled due to COVD-19. 

“Beauty is a pro-sumer market and we learned a lot of lessons from that community, says Miller. “Social is really important there and we were able to get very good in the social world, seeing which keywords work and using artificial intelligence to personalize the journey. Unfortunately, we were not able to see that come to full fruition due to the event cancellation and some market dynamics in the beauty sector.”

Getting There: Culture is the Biggest Obstacle

While Questex needed the right tech infrastructure to get the right data into the right hands, Miller says that getting beyond perceived cultural differences between Fierce and ExL was the biggest challenge. 

“We were dealing with two different cultures that hadn’t been integrated and the team didn’t do a lot together,” says Miller. “Fierce thought it did this, ExL thought it did that. But did they really? The fact of the matter was, they needed to be doing stuff together.”

While COVID-19 has been the bane of B2B publishing, it has helped Questex pushed through some of the inertia that would have held up change in the past.

“In terms of collaboration and bringing these groups together, I have to say the COVID situation helped us do this more quickly than we normally would of,” says Miller.

Miller credits Questex’s ability to break down siloes and get groups working more closely together to its Centers of Excellence, in which experts across the company come together to produce best practices in a variety of areas including audience and database, content, customer experience, and product, with topics ranging from protecting customer privacy to identifying where the customer is in the buying cycle to hosting virtual events to which headlines work best and why.

“The first thing is you need to do it to make the decision on what you want your internal core competencies to be, which is easier said than done,” says Miller. “Usually, you’re saying collaboration gives you more of a competitive advantage than really deep product knowledge. We combine the two—the markets work with the Centers of Excellence by saying ‘Our audience wants this, our advertisers wants that’, and the Centers of Excellence say, ‘OK, we have that over here, which parts work for you and what do we have to create as new?’”

Having that expertise on hand has enabled Questex to move quickly. “Someone asked, how have you pivoted so quickly to virtual events?” says Miller. “We just did it, but in essence we didn’t just do it because we have six people on our team in our Centers of Excellence who were part of creating the first scalable virtual events about a decade ago.