Data richness makes India an ideal market to experiment: Kaushal Kurapati, Oracle
Group Vice President Product Management at Oracle on how marketing technology has heralded a new era for the domain
Technology is enabling a new marketing dynamic which is making the task for marketers more insightful and efficient while also retaining its own set of complexities.
Sharing the impact and correlation between new marketing technology and brand communication, Kaushal Kurapati, Group Vice President Product Management at Oracle strongly believes that marketing technology has heralded a new era for the domain.
“Over the years print has given way to TV and TV now holds a big sway of advertising dollars. Also, the advent of performance marketing, internet and smartphones has unleashed new form factors and new ways of targeting consumers. All of this is primarily because technology is driving consumer behaviour to change. Now marketers have to understand this difference in consumer behaviour and be able to target appropriately. Otherwise they will be missing a big opportunity,” said Kurapati.
Underling the difference between big data vs. quality data and the need to give precedence to the latter, Kurapati believes that this issue is not unique to the Indian market but a global phenomenon.
“I think that struggle is world over and not just in India. If the data going in is noisy then your prediction and your estimation and all of those factors will be bad as well. Smart businesses or smart organisations have to take care while considering data and I think a lot of people miss that point. So, it is not just about the amount of data but also the quality of data that is important.”
When asked to define the most popular technology solutions that brands are seeking from technology providers, Kurapati explained, “Many brands would like to monitor what is going on in the social media space and how people are talking about the brand in terms of the positive or negative sentiment.”
“Also when it comes to mobile apps, they want to understand what happens to the customer journey as they come and navigate the site and also to understand the overall digital foot print,” he further added.
With growing concerns about data privacy and the implementation of General Data Protection Regulation (GDPR) in mature data markets, regulatory concerns may pose challenge to big data usage in the coming time.
When asked to explain the role of technology providers in such a scenario, Kurapati said, “GDPR is having a big impact not just in the European context but also technology solutions are getting compliant that way. Big countries like India want data jurisdiction within their borders, it is happening in the payment space, it will happen in the consumer behaviour space too. It is the question of when not if in my view, and it will require some change on part of the technology providers too.”
Sharing his thoughts about the future of marketing technology, Kurapati added, “We will see a unified data picture because there is still data in silos even in the advanced data markets. Figuring out what to recommend as a product based on what you already purchased would become more strategic.”
Explaining the critical role that India is poised to play as the centre of big data, Kurapati said, “India over the years has become one of the lowest data rate markets in the world. This has led to a change in the consumer behaviour and an explosion in terms of spending time on the mobile phone. This consumer behaviour change has made India a data rich market, and because of that data richness I think it is quickly becoming an ideal market to experiment and try out different things.”
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