Data

Our realities have changed and so have our behaviours. In the last 3 months, content consumption has seen an accelerated pace of growth with video streaming and app downloads at an all-time high. As of mid-June, we found that consumer willingness to venture out is recovering - but slowly. In parallel, we’ve all heard about how India’s online shopper base is expected to grow to 300-350 million by 2025, and how these new users aren’t limited to the metros/big cities.

With consumers spending significantly more time on various digital media due to social distancing, working from home etc., it is imperative for brands to strike the right balance - engage with the consumers in a meaningful, personalized manner while maintaining the right tone. While the role first-party data plays might differ across businesses, there is no time like the present for companies to rethink and be more explicit about what data they collect and why.

“The world is one big data problem."

- Andrew McAfee (principal research scientist, MIT)

Everything in the digital world - from surfing the web to sending an email to financial transactions and, yes, even sending a text message or making a phone call - creates a data trail and, there is a good chance, that someone is using it or will be soon enough.