WHILE the Philippines is among the highest sources of digital data for having social media-buff people and strong mobile connectivity, the country is still catching up at a slower pace to become a global player in analytics, according to a homegrown digital research and consulting company.
“When it comes to digital maturity, I consider the Philippines to be in the infancy stage,” said Allan Capulong, founder and CEO of Research and Tech Lab (RTL).
In as much as Filipinos are very tech-savvy and the adoption of technology is high with Internet penetration at 60 percent to 65 percent, he noted that “we are still at the threshold, as international influencers, such as Facebook, Uber, Google, have just started operations by putting up their offices here.”
“Our neighboring countries in Asean are likewise at the tipping point, with the United States and Europe eyeing the region as a promising location for expanding digital opportunities,” he added.
On the rise
TECHNOLOGICAL advancements had the amount of data generated in the digital space growing exponentially by the minute.
They become so complex to process using on-hand database-management tools or traditional data-processing applications.
With the emergence of the so-called Big Data, analytics, as a multidimensional discipline, comes into place to interpret raw information.
The insights produced in the process are then used to recommend action or to guide decision making rooted in the business context.
Multinationals and other big companies have long tapped into digital-data analytics to boost their brands, know well their customers’ needs, enhance their products and services, identify risks and predict future trends.
Internet generation speaks
GATHERING the unlimited flow of information available in social media, RTL found out in its recent study that Filipino Facebook users are spending their hard-earned money on their well-being.
More than one-fifth, or 22.49 percent, expressed that their topmost concern is their health and wellness when it comes to allocation of their salary.
This is quite surprising as there is a 6.58-percent difference over what most would think to be people’s main priority, which is food.
Food is only their second consideration at 15.91 percent, which could be attributed to the health and wellness trends—both previous and emerging, government health-awareness campaigns, as well as the proliferation of health and wellness products in the local market.
Internet and electricity came in at third and fourth, with 11.72 percent and 11.69 percent, respectively.
Following closely at fifth is mobile plan, with 10.05 percent, showing how much people put a premium on connectivity.
Such result is expected of Filipinos being active social-media users, thus earning for the country the No. 1 slot in terms of time spent on various social-media platforms, based on earlier reports.
With almost everyone owning at least one mobile phone and social-media account, every thought or photo shared online becomes part of a treasure trove of data that can be translated into useful information or business decision.
Meanwhile, 9.89 percent of local Facebook users said they are focused on spending on education. This is followed by utilities: water at 7.09 percent; cable, 5.87 percent; and rent, 3.25 percent. Completing the Top 10 is insurance with 2.04 percent.
From data to business
AS a general rule in data analytics, the key is to sift through the volume of raw information and find those that can be converted into insights, which, in turn, give companies and organizations the upper hand by making faster and better-informed decisions.
Doing so, according to the study, enables these entities to come up with strategies that are directed at their audience.
Armed with this information, business heads can allocate funds for marketing campaigns and advertising that can translate to high-value sales.
Vertical-wise, those that belong to the health and wellness industry can take advantage of the netizens’ interest by keeping them engaged.
They must provide for them products that are affordable and trustworthy that will help them be in control of their own health choices.
The tech-savvy and hyper-connected Filipino Internet generation is among the prime movers today and will be chief decision-makers in the future.
With this in mind, brands can capitalize on them by having a stronger online presence, thus, leading to brand awareness and, eventually, brand loyalty.
The locals’ requirement for connectivity can, likewise, work well to their advantage as firms have a venue to establish stronger and more personal relations with their customers.
Having real-time and personalized customer service can bolster brand image, which, in turn, opens up more opportunities for the business.
Digital data analytics is a powerful and effective tool that can lead entities to the right path and mold decisions.
In separate November 2017 Twitter and online articles read and analyzed by RTL, 73 percent of netizens believe that data analytics is a positive change in the Philippines.
They believe that it can boost the country’s economic growth, complement traditional data sources and improve company strategies.
Image Credits: Ronstik | Dreamstime.com
Link: https://businessmirror.com.ph/study-shows-netizens-spend-more-on-health-than-food/