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MUMBAI:
Data is king and it will drive the revenues of the
entertainment industry, said Accenture managing partner, communications
and high tech Ashish Khanna.
Khanna
went on to add that data has become very dynamic and the challenge
before the industry is to get it all together. “Today,
data should be an enabler to provide real time content for
great consumer experience.”
Khanna
was speaking at Ficci Frames 2013 on ‘Unleashing the
power of data.’ The other names who participated in the
panel discussion included Lousie Chater (audience research
consultant and 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 and India
Smarter Commerce Leader, IBM GBS) and L V Krishnan (CEO TAM)
who was the moderator for the session.
Krishnan
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 the integral
part of our livelihood.
During
the session, the discussion was 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 Chater.
Today,
movies are scripted and produced based on the researched
data available, which makes the film projects viable and
profitable, she added further.
The
panel also discussed the perspective of data in today’s
scenario where there is an explosion of technology. Phadnis
said, “Today content is very critical and available
across platforms, be it television, movies, social media,
mobile content and other available mediums.’’
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,” Phadnis added.
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 behaviour so that the country can witness a real media
revolution.
Paramatma
said that today the challenge is the magnitude of the entertainment
industry and online data is making a lot of difference in
understanding the likes and dislikes of the so called `viewer.’
He said that the future of the entertainment industry lies
clearly on the data, since the viewer is the king and it
is viewer’s choice of content which would make content
viewing interesting on all the mediums, be it online or
offline.
Kantar
Media, UK head- global business Nick Burfitt spoke on digitisation
and the revolution of telecommunication that has fragmented
industry and data at large, which can be addressed collectively
with the digital device.
“Working
alongside Peoplemeters, it will be possible to gain a holistic
view of TV viewing habits regardless of the time and place
of access. RPD efficiency and effectiveness will move industry
beyond demographics,’’ Burfitt added.
IBM
GBS partner and India smarter commerce leader Rajesh Rai
added that today the technological revolution has made a
lot of difference to viewing content, be it on any medium.
“It is time that we understand what our viewers consume
and make content richer and interesting,’’ he
said.
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