#Frames2013: ‘Dependency on data unavoidable’

15 Mar,2013

By A Correspondent

 

The ongoing 14th chapter of Asia’s foremost conclave on Media & Entertainment, FICCI-Frames 2013, Day III, hosted a session on ‘Unleashing the Power of Data’. The panelists consisted of some of the big names in the business of numbers. These include Ashish Khanna, Managing Partner, Communications and High Tech, Accenture; Lousie Chater, Audience Research Consultant & former head of research, Walt Disney Studios; Atul Phadnis, Founder CEO, WhatsonIndia; Anandshiv Paramatma, EVP, Consumer Rights, Star India; Nick Burfitt, Head, Global Business, Kantar Media,UK; Rajesh Rai, Partner & India Smarter Commerce Leader, IBM GBS and L V Krishnan, CEO, TAM who was the moderator for the session.

 

“Data is king and it will drive the revenues of the entertainment industry,” said Ashish Khanna, Managing Partner, Communications and High Tech, Accenture. Ashish went on to add that data has become very dynamic and the challenge before the industry is to get this data together. “Today, data should be an enabler to provide real time content for a great consumer experience,” he said.

 

L V Krishnan, CEO, TAM added that we are living in a digital world, surrounded by data be it phone, television, radio, movie, internet. In real life we live with data and are surrounded by this data matrix. He added that data has become an integral part of our livelihood.

 

The discussion further moved around the increasing importance of data collation and market research in the media and entertainment space. “Data has become very critical in film making and marketing to make the movie a box office blockbuster,” said Lousie Chater, Audience Research Consultant & former head of research, Walt Disney Studios. “Today, movies are scripted and produced based on the researched data available; which makes the film projects viable and profitable,” she added.

 

The panel also discussed the perspective of data in today’s scenario where there is an explosion of technology. Atul Phadnis, Founder CEO, WhatsonIndia said, “Today content is very critical and available across platforms be it television, movies, social media, mobile content and other available mediums.” He added that with the increasing number of channels in India, almost touching 700, audiences are becoming more cautious of watching the relevant content. “With the increasing number of channels, the need for enhancing the diversity of content is becoming more and more important,” he said.

 

The session further went on to showcase the importance of data, fascinating ways in which both online and offline research and data can be harnessed to understand audience preferences and behavior so that the country can witness a real media revolution.

 

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