Navin Chandani, Experian India: “Data analytics helps marketers leverage convergence in the digital space.”

We at YourStory recently caught up with Navin Chandani, Managing Director (Marketing Services & Business Information), Experian India to speak about digital convergence and what it meant for an analytics organization like Experian.Experian is a global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 Index. With total revenues exceeding US$4.2 billion, Experian employs approximately 15,000 people in 41 countries. Experian established its operations in India in December 2006.

Navin is also a speaker at the India Digital Forum scheduled to happen on the 29^th of July 2011 at New Delhi. In this exclusive chat with YourStory, Navin talks about data, analytics, digital convergence, social media and his expectations from the India Digital Forum.

What does digital convergence mean for a financial information/analytics organization like Experian?

Experian is a leading global information services company. Our core competencies are data, analytics and cutting edge technology. If you see, all our businesses are linked to these core strengths. We have a diverse portfolio by geography, business line, and customer segment.

Globally, the banking and financial services industry contributes to 33% of our annual revenue while direct-to-consumer contributes 20% and other industries such as retail, automotive, telecom, utilities, public sector, etc. make up for the rest 47% of the revenue.

Digital convergence is all about data, information and the requisite platforms/technology to deliver it. Analytics plays an important role in creating actionable output for marketers to leverage this convergence in the digital marketing space.Our strengths in data, analytics and our innovative platforms for delivering these services enables Experian to help marketers understand their consumers, competitors and the industry to create the right offers to the right set of customers at the right time. Experian Marketing Services provides data, analytics and platforms for marketers to segment their consumers; understand consumer trends, track competitor activities on the internet; and engage with consumers through email and social media.

What are your expectations from the India Digital Forum? How do you intend to harness the platform?

The digital space is evolving at a very high pace and it is important to take stock and look at the big picture. The India Digital Forum is an excellent opportunity for all stakeholders of the digital space in India to come together and look at the progress, understand the efforts put in by colleagues and peers from across the industry, get a glimpse of the direction we are headed in and converge together and spend time understanding the challenges and opportunities.

We at Experian look at this forum as an excellent platform to network, discuss, share and enrich our collective knowledge. I believe that in India we have a unique advantage of leapfrogging on the digital evolution curve. This forum provides a window to look at the things to come.

What are the themes/topics that do you intend to cover in your talk at the India Digital Forum?

I am part of the panel discussion on ‘Social Media and Social Commerce’. My contribution to the panel will focus on how the importance of social media is impacting the decisions of the marketer, how this can be measured and what can marketers do to tap in to this opportunity. However, opportunities also come with challenges and I shall also try and address some of the challenges we have identified and have a few solutions to addressing them. Social media empowers the consumer and the interactivity creates a bond with the brands. Social media though in the digital space is impacted by the occurrences in the physical world and also impacts the behaviour in the traditional physical commerce.

For example, as per Experian Hitwise Insight Report on ‘How Social is India?’ consumers the three dominant reasons for consumers to engage in social media initiatives of brands are

1. For information about sales and promotional offers

2. To get peer level reviews of products and services. Social networks provide an avenue for consumers to voice their opinions about the brand, but crucially for the marketer to take onboard their praise and where necessary answer their criticism

3. To find information about company and its offerings, get company updates, and get product or technical information and to follow thought leadership and debates on industry topics.

Also, as per the Experian Hitwise Data, social networks and forums are the second largest source of traffic for all websites, thus making it important for marketers to tap this opportunity. In my talk, I will high light some of the case studies we have seen that have worked in leveraging the opportunity provided by social media and at the same time overcoming the challenges posed.

To know more, check out http://www.experian.in. Also, do let us know what you think of this story by writing to us at[email protected].