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Davos, Switzerland (CNN) – Mark Spelman, head of strategy at Accenture, says emerging markets are spurring innovation.

“I can point to retailers and consumer goods companies who I think are bringing innovation to many emerging markets, through supply chains, through the way they’re addressing consumer preferences in local markets,” he told CNN’s John Defterios.

“But at the same time, you’re seeing a lot of innovation taking place in emerging markets,” he added. “Look at Indonesia, with 50% of the population under 29, real innovation using social media, and that’s going to be leveraged elsewhere.”

But he admitted that harvesting the vast quantities of data generated from social media in emerging markets would be a challenge.

“We’re going to see an absolute explosion of data … we’re either going to drown in data or we’re going to be able to manage it in a way that gives better quality decisions,” said Spelman.

“Managing that data, whether it’s data about your customers, about what’s happening in your supply chain, is going to be absolutely critical if you’re going to be successful at being able to take advantage of a lot of the growth that's going to appear in emerging markets.”