Goafest 2023: The future of connected devices and cross-channel measurement

In India, there are 223 million browsers, 619 million mobile devices and 22.1 million connected televisions.

May 26, 2023 08:32 IST

Data needs context for it to be meaningful, says industry experts

In the rapidly evolving digital landscape, connected devices and cross-channel measurement has redefined the way businesses engage with consumers to garner maximum reach and visibility. As per the latest IoT Analytics, “State of IoT—Spring 2023” report, the number of global IoT (Internet of Things) connections grew by 18% in 2022 to 14.3 billion active IoT endpoints. The report added that IoT Analytics expects the global number of connected IoT devices to grow another 16%, to 16 billion active endpoints in 2023. With the increasing prevalence of smart devices and the growing connectivity between various platforms and channels, organisations are presented with unique opportunities to gather valuable insights and deliver personalised experiences through measurements and data analytics. “Measurement is now moving from a monolithic approach to a fragmented approach, which needs to be reported frequently because data by itself is meaningless, it needs context”, Geet Lulla – VP Sales and head Asia Pacific, Comscore told Brandwagon Online.

Connected devices, such as smartphones, smartwatches, and IoT devices, generate vast amounts of data such as user behaviour, preferences, and context. “This wealth of data allows organisations to better understand their target audience, enabling them to deliver more personalised and relevant experiences,”Salil Kumar, chief executive officer, Digital Business, India Today Group, said, adding that real-time data analysis will augment the process of personalisation by brands.

With consumers seamlessly transitioning across multiple platforms and channels, measuring the impact of marketing efforts has become more complex. However, technological advancements and data analytics have made it possible to connect the dots. “Cross-channel measurement enables businesses to understand how different touchpoints contribute to customer conversions, allowing for better attribution and optimization of marketing strategies”, Pankaj Krishna, founder and CEO, Chrome DM asserted. Throwing spotlight on his findings on the incremental reach of cross-channel, Krishna pointed out that among the connected devices, there are 223 million browsers, 619 million mobile devices and 22.1 million connected televisions.