YouSaid · the spoken record

Anindya Ghose

lines on the record: 102
first: 2017-06-22
most recent: 2017-06-22
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“So as to have more homogeneous distribution of crowdedness. In addition, you can find out where the hotspots are and have a higher retail price for those stores to have their stores in the hotspots, right? So this is a very interesting, you know, and since you mentioned you have interest in architecture and design, there's a very interesting architectural element to these trajectory data. It's not just about commercializing through shoppers. You can actually completely change. We are talking with airports now in the Middle East, for example, in Dubai and Abu Dhabi about how this trajectory data can be used to redesign the layout of the retail segment of the airport. And where should the most covet stores be? Should they be closer to the terminals or further away? And all of those things.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, so the answer for all of this is yes, yes, and yes. And here's why, right? So the Wi Fi technology that I mentioned, you know, that's been used to curated offers in real time to shoppers in real time, it's not just about the commercial aspect of it in terms of retailing. We have now seen evidence where they can use the same data to redesign the department store or the mall to figure out where are crowds aggregating and how do you disperse the crowds, how do you optimize a workflow.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“The individual store is benefiting, the overall mall is benefiting too. And another nice thing is with its trajectory-based advertising, because of the fact that our recommendation algorithms are so accurate, we can make you spend more money and spend less time so as to prevent crowdedness in these stores.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Which department was in a store, which floor, how much time you're spending when that department store. And we actually did that. So my chapter on trajectory talks about the studies we have done with shopping malls in different parts of the world where, again, it was very important for us to follow the notice and consent formula, notify consumers when they sign up the Wi-Fi that you will get tracked, but in return for that, we are going to send you more relevant and less frequent offers. Walks like a charm”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, now basically, you know, the Wi Fi in these department stores is a great instrument for them to get access to our real-time horizontal and vertical data, which floor do you go to, which store do you go to?”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I would tell our listeners brace for impact because this might be like, wow, it's really happening. But here's what it is. Bloomingdale is right next door. Big store, multiple floors, Macy's is a few blocks away, right? Multiple floors. What if, imagine a world where the retailer knows not just where you are but also where you have been in the past?”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“What is trajectory? Okay, so this, I have to say, I guess I get excited by all of them, but this is the most fascinating just because it's the most futuristic.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Yelps Yelp has a standard set of algorithms, which is not actually necessarily based on the kind of bidding or auctions that happen on search engines, right? So I am foreseeing a world where within a given app, when you've got multiple competitors vying for your attention, we will get back into that bidding and auction space. And companies will want to bid more, get a better placement and a better rank to get more of our attention. And we did this actually elements of this in Germany in a massive study involving 374 cities and towns of Germany with 3,500 companies using one single app. And we saw these ranking effects were dramatically powerful.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Okay, so here's where the combination of the same ranking algorithms used by search engines in sort of the online internet space can be deployed in the mobile app economy. So when I open up Yel today, for example, just to give an example,”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Okay, so this is also one of my favorites. We live today in a world of information overload and attention deficit economy. Too much information, too little attention. Saliency is a force which basically says, can I give you the best offer as a company? Can I give you the best offer and prop it up right at the top where you can see it? I don't want you to have to incur the cognitive cost of having to search things or browse things or there's a lot of clutter out there. And so, what saliency refers to is the ranking effect. How do I get my ad or my offer to be ranked at the very top so that more people are likely to see it, respond to it, and it does not get lost in the clutter down the screen?”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Would you rather step out and walk a few blocks to get to the store if you can get that done online on your phone? Turns out that most people prefer to continue to be wherever they are at work, at home, get on their phones and buy that product. So controlling, this was a nice control field experiment, you know, with a test grip under control group, they continue to find that we are more likely to actually bipe things on our smartphones, even on a nicer sunnier, brighter day.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“So they actually relate back to one simple thing, which is mood transformations. Basically, when the day is sunnier and nicer, you feel much better. I mean, you're in a better mood overall, right? When you're in a better mood overall, you're more likely to actually go down to that device and start looking for things to do. Like shopping is another mood enhancer. So now you've got a brighter sunny day. You've got online shopping that is very easily accessible.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Software If it's a rainy day and nasty day, you are watching TV, but then you also have your tablet in front of you. So, people are doing parallel processing of multiple devices. So, you know, one of my colleagues, co-authors on a different paper, he actually did a study. I wasn't part of it, but he and his team did it. And they actually showed that on a sunnier day, people are more likely to spend time on their smartphones and make more purchases in the online space than in the offline space.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Turns out actually it's actually the opposite. They may be up and about, but they're still on their phones. So I might be taking a stroll in Central Park, and I'm there for three hours, but in at least half of the time I have been on my phone. So”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Okay, so in various ways, you know, if I had to ask somebody if it's a nice sunny and bright day, are people more likely to be on their phones or less likely to be on their phones?”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I guess, you know, we covered a lot. One of the things that we haven't talked about are these forces that are actually going to help companies unlock this economy, right? So I actually in my book,”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“It is changing, it is changing, in fact, you know, when I first started doing these studies in 2010 or at nine, this one, the tablets were being introduced. You know, we saw these numbers were 1%, 1.5%. Today they are up close to 5%. So it's increasing. It will take some time.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“On the mobile device. And you know what? People still buy products a lot more on desktops than on tablets. But that being said, one of the biggest myths that I'd unravel in the book is that the smartphone or the tablet is not very effective in marketing. Actually, that's not true. It may lead to 4 or 5% of your sales, but it has had an influence on up to 40% of your all of your sales because people first got exposed to your product on the smartphone.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't necessarily think so. Okay. I actually think that desktops or laptops are actually here to stay. And part of the reason is there's still a tremendous amount of productivity and work that you can get done on these larger devices. It's just hard to get done on a tablet or a smartphone.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Actually, we didn't see any such evidence so far. I mean, I think we have been consistently looking at different demographic splits, and we continue to find, certainly, you know, with Gen X and Gen Y, it's a lot more. But it's still the same qualitative result with millennials”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“It's an escape device, right? So when you're surrounded by people that you don't know, it creates and conjures many negative emotions, you know, some sort of adversity, hostility, stress, and so on. So shopping is actually a big stress reliever. Psychologists have talked about...”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“To the point where at five meters per square meter was fairly crowded, there were 49% more likely to respond to these offers than in the previous metric. And what was happening was people basically said, look, when I'm surrounded by all these strangers, I don't really know them. The first thing I do is I take my phone out, I immerse myself in this phone. This is my escape. And at that time, in those 20 minutes of commute, if you can send me a relevant offer, you got me there.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“That's correct. So we know exactly. We are working with a telecom provider, which has 70% of the market share. We know which train you are in. In fact, we also know which compartment in the train you are in. So that's a level of, because the definition of location has changed completely. Companies can identify you within three feet. So what we saw is that as the level of crowdedness increased from one person per square meter to up to 5% per square meter, the propensity for people to positively respond to these marketing offers continually kept increasing.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“So, this is actually one of my favorite studies in the book. Basically, you know, what we did is we exploited or leveraged the variation in crowdedness in different times of the day in different cities. And send people offers and effectively measured how people responded to these offers when they are in these crowded train station or subway stations.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“For many years in the foreseeable future, right now we're only scratching the tip of the iceberg here, right? And it's because a small fraction of people are the ones who are opening up their GPS data and saying, okay, here's where I am, send me an offer. That number is only going to grow. And in everything that I've seen in the last 10 years in different parts of the world is telling me that. This is a very tiny portion of the actual potential of how much can be monetized in the space.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Where is their store, and you know, consumers have a choice. They can go to a Google Play Store or an Apple App Store and some of the other third party companies also have their Amazon as an App Store too. I think their power is a reflection of consumer preferences.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, I don't say that way. I don't think they have too much power. I think they have appropriate power. It is their power.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“And they obviously never got consent. Exactly. And of course, you know, if at the end of the day, it's an app. It is a big $80 billion company. It is an app. The way people access the app is through an app store. If an Apple or a Samsung decides to kick them out, that's it for them. I mean, how are they going to fit?”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Sure. I mean, first of all, history will behavior on part of Ober. They violated the two simple mantras of data privacy, which is notice and consent. You need to notify consumers what are you doing with the data, and then you need to ask for consent. They violated them both, right?”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“So, you know, various studies we have done and others have shown that 70% of millennials are very willing to share their data as a 35% of Generation Z and Generation Y are willing to do the same. Less so with baby boomers. But if you are a marketer today and you're thinking about your target segment, target population, for the most part, it's actually Gen Z, Gen X, Gen Y's, and millenniums, right? So you want to stay with the trend and keep targeting them. And if they are actually responding to this data exchange, data border economy, so what you really want to do is be their butler and concierge by sending them a curated relevant message. That's what you want to be doing.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“So a lot depends on how the app is actually owned, right? So, if the company, the travel company or the travel site owns the app, then clearly the app developer belongs to the company and they own it. If it's a third-party App developer, then the Abd developer will have it. And highly likely they will be sharing it with the company because that's how the arrangement is. So that happens for sure.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“So it means two things. One is, and if you're a retailer, you're still spending money on physical newspapers for advertising, you're wasting it. People only spend 6% of their entire time reading a physical newspaper or a magazine, right? Unfortunately, that's what it is. So, what they should be doing is actually putting that money on that magic device, which is the smartphone, right? So instead of spending money in print newspapers, you should actually spend money investing in these location-based advertisements, location-based coupons, all of these technologies that enable companies to do so in real time.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“They don't want to be bothered. Right. It's the stragglers that really price sensitive folks, the bargain hunters whom you don't want to lose. That's where the location which technology is useful.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“That's exactly what it is. Basically, any sort of location based mobile coupon strategy has to be incrementally useful to the company. You don't want to send a blanket price matching policy for everybody, right? Because many people will just be happy paying the higher price.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Right, and buy it on Amazon. So you just lost one customer there. So one in two people were doing that. Now, the reason I say it's a double edged sword is today the offline retailers have a tremendous resource in the same phone which was once a threat to them because now using these location-based targeting technologies, they can send you a coupon in real time when you're in Best Buy to prevent you from walking out without buying the TV. And in my book, actually, I talk a lot about these case studies where based on whether it's a Wi-Fi in the store or the beacon in the store or the GPS, these retailers are able to sense where you are and send you an offer and delight you and impress you and surprise you.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Okay, so yes and no in the following sense. So showrooming was a massive problem up until recently. The likes of these physical brick and mortar retailers were losing 53% of their traffic, the likes of Amazon.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“So, this is a great question. And one of my favorites because mobile, as I've studied over the years, is a double-edged sword for retailing. And here's why. On one side, offline retailers have been petrified by the fact that consumers have been mobile showrooming, meaning that while they're inside a physical brick and mortar store and they found something they like and yet they're actually looking for the same product online on their phone, looking for a cheaper price.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“So, you know, I guess I belong to the group who does not think there's a problem in that. I do not mind the fact that we are immersed in our devices. And the reason is because, you know, everything that I've seen is that there is actually a positive side to this as well, which is going back to my argument before that the reason company are sending us all these offers is they don't have enough information. But the more we immerse ourselves on the device, the more data generates and the more information our companies will have, which will then let them reduce the frequency of the messaging, increase the relevancy.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“It is. I mean, look, first of all, there is a very non-trivial consumer behavioral change, right? We're not talking on the phone anymore. We are tapping and texting, right? Every tapping, every texting is creating data about our behavior.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Ashley, if you ask their top management, they will say, well, you know, we are actually the next big media tech company. We want to take on Google and Facebook. And they can Because they have so much data, right”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Right, so what's really fascinating is that Google and Facebook are sort of the two lead players who are essentially putting this infrastructure together, meaning what? Meaning that between the publisher and the advertiser, they have created these intermediaries called ad exchanges and DSPs and SSPs and a lot of the technical jargon. But the basic job for these companies is stitch the data together. What's also fascinating is the next big challenge to these companies is going to come from telecom providers. So, why did Verizon buy out AOL? Why did Verizon buy out Yahoo? Verizon does not see itself as a telecom provider anymore.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“A single thing from them So basically, right now, what's happening is companies are sending, like hitting dots in the air and hoping one will stick, right? And the reason it's happening is even though this might seem very surprising, they actually don't have enough information. On consumers, on a given consumer. And this might seem astonishing given this world of data, right? The reason is because, and I talk about this in the book a lot, is the data is actually fragmented. It's all in silos. So somebody has to come and stitch it together. And absent that, what's going to keep happening is companies will keep inundating us with these offers.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“So, two things. One is you want to reduce the frequency of how often you message your consumer through an offer or an ad, and you want to increase the relevancy of that messaging. Right now, we have the opposite. We are getting inundated by ads, which are not necessarily very relevant and redundant.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I mean, they are going to get into trouble. I mean, for a number of reasons, they've been in trouble for a long time now. One episode after another. But, you know, just from a brand advertiser's perspective, there's a thin line dividing the coolness and the creepiness. And in my book, I talk about a lot of the case studies where we've actually been very successful in remaining cool and not digressing into the creepy stuff.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“All right, so one of the things I talk about in my book is companies who are doing it right are the ones who are creating a concierge or a butler in your smartphone. The companies who do it wrong are the ones who are creating this creepy stalker. Okay, so isn't some mine?”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“So, my studies and projects over the last 10 years across three different continents, across multiple countries has actually demonstrated very rigorously than mobile advertising is very effective if you do it right. How do you do it?”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“I think certainly at least one of the top two or top three biggest sectors. You know, those 3.3 trillion dollars is only 4.2% of the world's GDP. And so you can only imagine it has to grow from here. The other thing that's going to propel jobs is, you know, one thing is that the mobile app economy is growing by leaps and bounds. And so every time you've got a new app, you need an entire army of employees. But also, aside from the fact is the data. So I talk a lot about how consumer tapping on the phone creates data. So they need data scientists. They need business analytics.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that number is going to only keep increasing, right? And there's a couple of reasons for that. One is over the last five years, consumers have been spending more and more time on mobile devices from 2012 to 2016, the last five years, we've come from Roughly about 10% of our time to about 25 26% of our time on these devices. What are us telling companies is that there's a lot of opportunity for monetization because right now advertisers are only putting in 12% of their ad dollars on mobile phones. So there's a disconnect. Consumers are spending twice a time. Companies are spending half the money. So there's a disconnect.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I mean, I think it's already kind of getting there, right? I mean, by now, the phone is much more than a phone. It's a camera, it's a flashlight, it's my television, it's my book as well, it's everything, right? So I think the convergence of various digital phenomena on the smartphone has already happened. In my prediction, I mentioned this in my book, is that a lot more is going to happen. And by what I mean by that is exactly what you said, which is people are going to start controlling their appliances, their homes, their cars, other sorts of things.”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source
“I would say so, in fact, in my book, I actually mentioned this that by 2008, when I first started thinking about this topic, it was pretty clear to me that the smartphone would be in fact the most transformative thing that we've ever seen. And in 10 years after that, now we do see, in fact, there's plenty of evidence it is because it's almost embedded on us. And people often ask me, is there a tipping point? I don't necessarily see that. The smartphone is going to become a remote control button, smart homes, smart cars, everything's going to be controlled by the smartphone”
2017-06-22 · Masters in Business · Anindya Ghose Sees Life Getting Even Faster With Tech · IDENTIFIED FROM THE TRANSCRIPT · source