“With the availability of data, media has grown to the level where the games are all about accountable media investments. Data analytics have grown and specialists have emerged,” stated Ashutosh Srivastava, CEO, GroupM (India & South Asia) when he introduced the discussion on Data Analytics at the ATG Conclave.
With this the floor was in the charge of Director, IIM, Professor Prakash Apte, who headed the panel discussion consisting members like IBM’s Ramesh Srinivas, John Goodman, CEO, Ogilvy and Rohit Mull, VP, Marketing, Tata AIG.
In his opening address, Professor Apte shared with the gathering pointers on data warehousing, analytics and modelling, campaign evaluation and ROI in marketing. The professor delved on various aspects, all of which pointed information that data throws on measurement of sales sensitiveness to marketing inputs. He cited examples of how when television impact was more on awareness of the brand than brand image, the latter was more influential on sales.
Srinivas shared with the crowd how Integrated Analytics was going to create the next wave. He said, “Data would allow marketers to get to the consumer in real time than at a deferred stage.”
He explained more on the various tools and technologies that allow an organisation to collect, aggregate, analyse, manage, filter, customise and then distribute information in a value chain. He said, “The information of assets is more important than assets themselves. It is therefore important to streamline the processes.”
Analytics, as per him, was about three I’s – Integration, Information and Intelligence. With this the floor opened to Goodman, who began with, “Building enduring brands is building enduring ideas around the brand.”
He said that data provided Ogilvy with certainty in decision-making and insights and hence the organisation’s move of setting up Ogilvy One Analytics. As per him, the unit was even able to predict footfalls in showrooms and has built various analytical models for its clients. For instance, FMCGs have focussed groups, models of who responds to what for a Holiday resort client, an attrition model for Telco, which helps in knowing who is vacating the service and the next best product to see model for software clients.
He ended with quoting David Ogilvy on, “For us analytics and creative are both important. Without the first you wouldn’t know where to go and without the second, you wouldn’t know how to get there.”
Mull took charge from here, where he showed the importance of analytics in the insurance sector. He said, “Insurance has grown manifold in the last three years. From a monopoly situation to over 13 players, the insurance sector has seen increased customer awareness and a more demanding service. Although, the sector has competition, there is no adequate data available.”
Mull pointed out that with the use of analytics, the impact of measuring direct effect on sale was possible. This also moved the marketing budget from a fixed cost to a variable one. Also, ownership of task and delivery from all partners including the creative agency, AOR and media vehicles could take place.
With this, the informative session ended with a vote of thanks delivered by Businessworld’s Indrajeet Gupta.