Trends in Two Minutes

July 16, 2018 admin 0 Comments

Major organisations are combating fake data with analytics

Despite being a hot topic throughout the world, data and analytics still isn’t widely understood in many communities. How can brands simply and effectively leverage the practice? With the increase in data provided by modern technology, many opportunities exist for businesses to use analytics to develop better, more efficient strategies to connect with and serve their consumers. However, many businesses and communicators are using data analysis to specifically ensure they’ve got an accurate understanding of their market.

The ongoing increase of fake data in all sectors (e.g. news, users, reviews, suppliers) means that accurate measurements and precise metrics are increasingly valuable for brands navigating the regional marketplace – while also allowing strategists to test existing assumptions about their consumers and identify new areas for potential growth.

That said, brands should be ready to update their data gathering approaches, no matter the location. With the European Union unveiling its General Data Protection Regulation (GDPR) and many platforms updating their user agreements, any organisation involved in data that could originate from the European Union will need to ensure their approaches are in line with the new legislation. And really, who knows how long it will be before it’s adopted in our part of the world, too, so best be prepared.

The surprising impacts of transport innovation

Singapore’s Industry Transformation Map (ITM) has just launched. Touching on several Asia Pacific trends, it reinforces some powerful insights into how change in the transport sector could impact businesses. Even brands traditionally removed from the automotive space may be looking to profit from some of the strategies unfolding throughout Singapore and other Asia Pacific markets. In particular, brands should be mindful of opportunities in the areas of Infrastructural Technology Investment, Automation & AI, and Data-Driven Solutions.

One of the key investments of the ITM, for example, involves leveraging Singapore transport usage data for commercial use – data which may provide insights to drive strategy across a variety of industries. The S$25 million of the ITM will additionally be invested across self-driving cars, automated public transport maintenance and additional smart solutions.

It’s expected that similar industry investments will be rolling out in markets across Asia Pacific in coming years – with a specific focus on South East Asia territories, in particular. Singapore, Korea and Japan have already adopted the Intelligent Transport System – a data-driven investment designed to reduce issues relating to congestion, traffic collision and other transport problems. Read more on this topic here

Is your brand asleep on sleep?

The New York Times has described sleep as “the new status symbol”, Netflix’s CEO considers sleep its biggest competitor and studies published by Research & Market show sleep aids being globally valued at $49 billion in 2016 – and estimated to reach $79 billion by 2022. With the stress of modern life, decades of social conditioning, electronic innovations and workaholic cultures, sleep is increasingly being identified as a common, relatable issue for all consumers; transcending any particular product sector.

This represents an array of opportunities for Asia Pacific marketers and communications. As a common issue, ideas around sleep and rest can be used as conversation starters across industries – including health, FMCG, beauty and automotive. Furthermore, widespread interest in sleep and sleep-health can be leveraged to develop more successful tactics and better access to night-time economies through strategies like time-sensitive advertising, insomnia theatres and midnight launches.

And, with sleep increasingly being viewed as a public health issue, there exists ample opportunity for brands looking to explore new approaches in terms of social impact, company culture or brand collaboration – for example, around events like the annual World Sleep Day.

Trends in Two Minutes is a new monthly bulletin of trends hitting business throughout Asia-Pacific with a focus on communications. Subscribe for more.