MUMBAI: In a landmark move, Mindshare has entered into an exclusive partnership with Crayon Data to power its planning, insights and consultancy offering.
The main aim of combining Mindshare’s proprietary data and research with Crayon Data’s big data collection and analytical capability is to offer greater adaptive solutions for marketers. And provide ability to not only identify different consumer profiles and segments, but also target and track those profiles across a complex range of media channels, including social media and video.
For Mindshare, the partnership continues its focus on developing leadership in Adaptive Marketing, a shift that is impacting how the agency thinks about services, products and ways of working. Mindshare’s core DNA is about disruption, provocation and speed, working with open source partners to continuously re-define how media agencies should behave.
With this in mind Mindshare has consciously entered into a range of strategic partnerships across new emerging domains such as big data, mobility, online video, cross screen measurement, advocacy and social content. The agency has re-structured its approach to bring data, content, technology and accountability together in a way, which has unlocked dramatic growth opportunities for both clients and partners.
Mindshare’s Products, Partnerships & Services council chairman and APAC chief client officer Sudipto Roy said, “One of today’s key business challenges is the complexity surrounding the collection of data making traditional database processing and management tools ineffective in helping clients make optimal decisions about their customers’ needs. It’s a fundamental requirement of business success. Without the ability to support customer needs, organisations fail.”
“We are looking at this collaboration to dramatically transform the way consumer insights are mined and connected to our clients’ categories. For one FMCG company, we were able to unearth consumer connections and interests in a way that is almost impossible to do through standard research based methods. For a B2B client, we were able to unlock and profile a million potential leads with exact identification of what they would be likely to buy. This is a game changer; both for insights and for performance/ CRM based initiatives. It’s not a surprise that Crayon Data was recently chosen as one of the top five companies by IBM’s Watson Developer Challenge.” he added.
Crayon Data is one of the fastest growing “big data” startups founded with a vision to simplify the world’s choices. The SimplerChoicesTM engine simplifies the decision making process for marketers, using proprietary algorithms to sort the complexity and present meaningful connections between data points and providing predictions of what consumers really want. The foundation of Crayon’s Choice Engine is the Taste Graph (B2C) and Interest Graph (B2B). Crayon’s taste graph (for B2C companies) already has over 550 million taste nodes reaching close to a billion through 2014. The company’s interest graph (for B2B companies) has extensive information on over 10 million enterprises, with 500M data points.
Crayon Data founding director Suresh Shankar said, “Media, analytics and behaviour is all going digital, and choices are proliferating in every aspect of our life from media to daily decisions. The partnership seeks to marry Mindshare's media data sets and expertise, and its innovations like Loop Room, with Crayon's choice engines, algorithms, and taste/interest graphs. This partnership forms part of a big transformation and caters to our mission of turning the misery of choosing into the magic of choice.”