TEG has today announced the findings of Australia’s largest data science project and the launch of a new product Genome Live that reveals the DNA driving the leisure lifestyle choices of Australians.
Conducted by TEG Analytics, the Genome Live project mapped the entertainment preferences of more than 12 million Australians, a data science project of unprecedented scale and insight.
The analytical project looked at spending on entertainment, the most popular genres, frequency of visits to sports and entertainment venues and related travel and tourism activities.
Some key findings of the analysis:
TEG CEO Geoff Jones said the TEG Analytics project as a major breakthrough for Australia’s $40 billion entertainment, advertising and media industries.
“The massive scope of this analytical project and the quality of the data has opened up a new way of viewing the leisure lifestyle choices of Australians,” said Jones.
“When TEG established TEG Analytics last year these kind of game-changing data projects were missing from the market.
“Now the insights that TEG Analytics have discovered will provide our partners with a rare look at what we are calling the ‘Entertainment Gene’ driving decisions and preferences.”
TEG Analytics has fully segmented more than 12 million Australians into Culture Segments, using demographics, preferences and aspirations.
The new segments define the majority of Australians in terms of which entertainment types best match their purchase power, values and life stage.
“An individual’s choice of entertainment and frequency of purchase are key indicators about what excites and engages that person,” said Andrew Reid General Manager, TEG Analytics.
“It is part of someone’s psychology and influences behaviour. The trends we see will be slow to change over time, so the data analysis is relevant for the long-term, and is not based solely on the person’s most recent transaction.”
“Knowing the entertainment ‘hot buttons’ for many millions of Australians has a significant impact on purchase and engagement,” said Reid.
“These Genomes assist in customer intelligence and engagement. From product selection and offers through to creative and media. It’s the basis of an experiential economy.”
Based on this analysis, TEG Analytics is now testing the impact of these Genomes on customer behaviour in several other sectors, including retail, finance, auto and travel.
TEG Analytics has broken the myth that hard core sports fans spend little to no time attending arts events. In fact, of those sports fans who over index on engagement, their attendance to mainstream events like music concerts, family entertainment and theatre is also relatively high.