The Advertising Club Bangalore recently held its inaugural edition of the ‘Knowledge Conclave – Driving Growth Through the New Era of Measurement’. C-Suite SME speakers from different spaces of the data-tech world spoke and interacted on some of today’s most important topics.
Hemant Mehta, Managing Director, Kantar & Chief Strategy Officer, Kantar South Asia spoke on ‘The new imperatives in research data & insights’.
He said the research, data and insights space has transformed with technology. Research is asking less, observing more, and stitching diverse data sources together to understand what’s really happening and making consumer tick. Hemant made the important point that in a world where we are swimming with data – 1st party, 3rd party primary&syndicated data – it’s important to filter out only those areas currently unaddressed by existing information and address them with fresh research.
The focus is on passive tracking &measurement to collect primary data better. Mobile has become the platform of choice. Not only does it give reach&convenience and it’s also very engaging. Options such as gamification, choice based conjoint studies, ad testing are possible through mobile. Most importantly it has helped raise quality of responses. In-depth surveys are broken into smaller portions then put together using data fusion techniques. Mobile enables respondents participating in the journey on their own terms. Eg for ethnography, they post pictures, blog, send videos anonymously – giving rich insights.
AR & VR technology is enabling capturing consumer behavior in the moment on a real time basis. This has transformed areas as retail display and shelf design research. Chat bot deployment is helping capture impulse behavior. Consumers love it. Interaction happens in a social environment and quick, nuanced detailed information is captured.
The other area of transformation is of platform integration. Data collection is being done by software platforms such as Qualtrics, or Medallia CX with Kantar mining, analyzing and delivering insights. An e-commerce measurement initiative is providing access to transactions on an ongoing basis. A similar passive measurement initiative is underway to understand consumers’content consumption on OTT platforms.Social data mining & analyticsis a vital input especially to qualitative research. Segmented CRM data is being enriched with Kantar data to drive more meaningful actions through them.
Implicit measurement is another technique being employed using neuroscience and behavioral economics.
Earlier research focus was on reflection on questions asked. But most shopper actions are intuitive. Therefore neuroscience and behavioral economics principles such as anchoring, framing, sunk cost biases &loss aversion are being used for capturing better insights on areas such as pricing.
Finally Hemant shared the play of big data in research today. He spoke of Kantar’s platform Athena that allows integration of data from different sources – brand track, purchase, social, investment and other data – into a structured format. This is enriched with Kantars data ecosystem, which has 25 different data partners providing game-changing insights & strategic directions.
Sanchayeeta Verma, Chairperson Knowledge Conclave 2019 said, “In our era of connected platforms, big data signals are being generated and data-driven tech are enabling businesses to harness them. The conclave helped understand how to do this and join the dots between the tech world and the world our brands play in”.
“Knowledge Conclave will now be part of our annual program. Watch out for the 2020 edition“ said Advertising Club Bangalore Executive Director, Arvind Kumar.
