Rob Jonas, global chief revenue officer at PubMatic, which allows websites and media publishers to increase the revenue they generate from advertising through programmatic buying or real-time bidding, said he expects to see more development in this area.
"It's easy to target a piece of advertising when you know someone's at a specific location but some of the really interesting things I've seen is looking at patterns of behavior and movement from a mobile device and using that to predict behavior," said Jonas. "That predictive data could be more powerful than reactive data. There are companies looking at it, has it received main stream adoption? Not yet -- will we get to that point? Absolutely," he said.
Location, location, location
Alongside advertising based on predictive behavior is a focus on developing technology that allows advertising to be targeted at where a person might be at a certain time, at the supermarket for instance.
(Read more: An app that pleases advertisers and consumers)
"Experiences of shopping are not always great or keeping pace with consumer expectations. But if you have a smartphone – that shopping experience can be more tailored, even personalized to deliver a service experience that is relevant to how consumers want to shop today," said Simon Hathaway, global president of RX at Cheil Worldwide, an agency that helped global retailer Tesco set up a virtual store in South Korea. "How people shop with mobile devices, particularly in-store is what we've been testing out. Location based technology will transform the retail experience and it's probably the big story in retail this year."
Hathaway said that another thing he has been testing in South Korean supermarket E-mart is the deployment of wi-fi "balloons" in supermarkets, giving consumers free internet access in certain spots.