Gary, how is technology impacting marketing? Not only here in Asia but also elsewhere? >> In the last few years, I would say there has been a lot more science applied to marketing and one of the special areas I've dealt with is, in store marketing. >> Okay. >> And understanding consumer behavior but we could say, shopper behavior in a store. >> Right. >> Path to purchase, so what are those triggers, especially in store triggers that lead someone to make a purchase. >> [CROSSTALK] Right, we're talking about the whole, so called customer journey. >> Yes. >> Touchpoints. >> Yes, touch points within a store, customer journey, the technology that exists now. Is getting better and better, and track exactly where people go in store. >> Okay. >> Unobtrusively. >> Okay. >> To allow them to track their journey in a store. >> Right. >> And depending on the store and the chain, you know, you can track them through cameras within the store, or track them with cameras on their body. >> Right. >> So you can track exactly what people look at, how long they look, do they engage in things? And figure out optimal display placements. >> Right. >> Display size. >> Right. >> Display signage. >> Right. >> All the trigger in store. >> Right. >> So, a lot of the battle is really shifting towards that in store environment. >> Right. >> And the technology is huge. And, you know, one of the benefits I see here in Asia, one of the advantages is, they don't have a lot of those legacy systems that they do in North America. >> Yes, that's right. >> So when a new beneficial technology comes along part of the justification in North America. >> Right. >> Is I have to write off my old technology. >> Right. >> And replace the new one. [CROSSTALK]. >> Make the leap. But here you don't have to justify writing off the old technology, because it's either extremely or. >> There's no base to begin with. >> So you can go right to right to the jump and make that leap and I think that's what you're gonna start to see here and you are seeing it now in Asia. Definitely seeing it all right. >> Okay, Santosh, we hear a lot about big data. >> What is it and how does it impact marketing, especially in week two of the seat. >> I think big data is changing the world in different ways. A look at the B2C space. One is definitely ecommerce because that's at the very cutting edge of where all B2C companies are being forced to run there. And decisions have changed to topical decisions that happen every minute. And marketers need to know how to have access to that to have the best back to the barn so to speak, so that's one area where in just the B2C marketing space, big data has taken a life of its own. What's also happening is I would almost say that the next phase of analytics is already upon us because big data was about technology. Big data was about these very cutting edge systems, but people are very quickly realizing that they now have very, very sophisticated modeling tools. >> Okay. >> To answer questions which they used to struggle to answer before. >> Right. >> And those could be day to day decisions. >> Okay. >> They those could be in science but the most interesting field that's emerging now is what's called foresight or predictive modeling. >> Okay. >> And it's not so much the data. >> Yeah. >> It is the ability of very advanced tools, that are now available to take the same data that was available five years ago >> Right. >> But answer questions. For example Today there are people who come in and say, how do I estimate how much I produce given what my competitors are doing. >> Right. And it's always been a question where you end up producing too much and you carry inventory. >> Right. >> Or you produce too little and lose all the option cost. And I think some of these sophisticated modeling tools have helped get the level of accuracy, by taking in multiple data sources, to a level where it's bringing down the cost of doing business. >> Right. >> And it's also helping companies already look into the future and say, here are the chance, for example, I met recent luxury plan, which is now looking at saying how can we look at the social media. And understand, for example if you look at Korea where KPop is big, how do they understand the KPop trends? And therefore predict what kind of celebrity is likely to be the next best a role model for them. >> Okay. >> Or what kind of fashion trainer should they. >> And this is based on what kinds of data? And is it very expensive to collect? >> It's not surprisingly, in a lot of these there are crawler programs that can be written and if you get a bunch of really smart kids >> They will design a lot of these programs for you automatically put it on the data and of course then you need a few solutions architect specific. It's not really expensive. The plan we're talking about is a multinational billion dollar plan. >> Okay. >> And it's a rounding error on how much they will end up spending on some of the most brilliant insights into what our future will look like. >> Right right right. >> Fashion trends. And that's possible today because of a mix of technology and a mix of modeling tools. And that's getting marketers to ask questions that sometimes seemed audacious in the past. And then people are turning up and saying wait, I think we can answer that. >> And a lot of that is happening actually here in Asia? >> Absolutely. >> Okay. >> Absolutely. >> Okay. >> I would add to that, I think that's one of the biggest changes you're seeing with technology. Is the types of insights and foresight you can get from data. >> Okay. >> That were unthinkable ten years ago in the sense of how much they would have cost you. >> Right. >> To try the process the data, to try to understand it are now within reach, as Santos says, it's, it's, you know, as we would say in North America, chump change. >> Okay. [LAUGH]. >> Like, like, it is a rounding air for companies. You look at the insights that, that, you know, very little money can get you with technology now, and it's massive, like, 20 years ago when I started a marketing, you know, you would kill to have these kinds of insights, data, fact based insights. >> Right. >> And now they're so reasonable to get them. >> Right, right. >> That is gonna change the face of marketing dramatically over the next few years.
