Big Data in Media and Entertainment Industry: The media and entertainment industry is all about talent and employing Big Data in it, is a fine ability. Science and Art are two opposite domains of the world. But as it is confirmed in science that opposite attracts, the same is the case for both these fields as well. Big Data and Art together are proving that they harmonize each other quite well. The media and entertainment industry has seen a big revolution through its linking with Big Data analytics.
- 1 Big Data in Media and Entertainment Industry
- 2 Let’s examine the applications of Big Data in Media and Entertainment industry
- 3 Big Data Case Study – The Weather Channel
- 4 Conclusion
Big Data in Media and Entertainment Industry
Recollecting the days when we had to fix one position to have logged on to our favorite shows, movies, or music. We were just restricted to only a few forms of media access. Today, we can have logged on to our favorite shows and movies anytime, anywhere with the improvements of services by using Big Data analytics like live streaming, pay per view, and much more. We now have access to everything at our fingertips and Big Data has been the mainstay of this wonderful revolution.
Let’s examine the applications of Big Data in Media and Entertainment industry
Below are the applications of Big Data in Media and Entertainment industry:
- Taking care of customers
- See-through the customer’s eyes – Enhance
- Making people crazy with ad
- Content is the leader
Have a look at the detail explanation of these applications
1. Taking Care of Customers
For a media and entertainment company, nothing is more important for them than its users, and keeping its users satisfied is their hardest task. Companies need to guarantee that they meet each of their customer’s wishes. To achieve the same, they must be aware of what their customers need.
And to guarantee tension-free log on to their content, media and entertainment companies collect a huge amount of user data to gain understandings about their users’ choices and interests. The best part is the use of recommendation systems that is the best outcome of Big Data analytics. They are used to suggest users shows or movies according to their choices.
Moreover, companies can even benefit in-depth details about the other important things such as viewing history, ratings, reviews, data from social media, etc. This is guaranteeing them to closely evaluate every customer’s demands. Once they know about their customer’s preferences they can efficiently predict what service they need to provide in the near future.
2.See-through the Customer’s Eyes – Enhance
Since the arrival of Big Data in the media and entertainment industry, it has eliminated all the obstacles between the users and the distributors. Big Data analytics is assisting companies to connect with their customers in a much-improved way than they ever did.
Through evaluating the different parameters of its customer’s data such as the most viewed content, the average time a user spends streaming their content, and the device used by the viewer’s, companies are now able to offer its customers with a more customized experience. And this is an effective source of building a loyal customer base. Moreover, this helps them in making the most of their revenues as well. The other services such as on-demand and scheduled viewing are made possible only after the arrival of Big Data analytics.
3.Making People crazy with Ad
Now it is the third application of Big Data in the Media and Entertainment industry – Making people crazy with an ad. Let’s start
“Managing a Media and Entertainment Company without Advertising is like flashing at a person in the dark. You know what you are doing, but nothing else does.”
Advertising to media and entertainment companies is what sustenance is to the soul. These companies exactly cannot think of existing without advertising. A media company’s success largely depends on their advertising tactics. The healthier is their advertising policy the more it attracts new customers. Earlier these ads were made at random in the hope that customers will like.
But now Big Data analysis assists companies to develop more customized ads and provides visions about the best time to stream those ads to seek the attention of the maximum number of customers. Advertising on various platforms such as social media can be carried out more efficiently. As Big Data has made it possible for the media houses to understand their customer’s accurate preferences it is quite simple for them to mesmerize the customers.
4. Content is the Leader
Big Data is offering more and more earning hands to the media and entertainment companies. It is constantly generating new revenue sources for them. With Big Data helping them in identifying what all their customers require, the product updates have become more and more economical. It is the potential of Big Data that the companies are equipped with such wonderful insights. It brings them a lot of advantages such as an increase in revenues, brand loyalty and ultimately gaining a competitive edge over others.
Big Data Case Study – The Weather Channel
Here’s a real-life example of Big Data’s activities in the media and entertainment industry
The Weather Channel (TWC), an American paid television channel co-owned by IBM. IBM, one of the innovators in the Big Data world, inspires TWC with Big Data analysis to understand customer’s conduct in a specific weather condition. Once they were able to obtain these visions, they developed an open market named WeatherFX which come into sight as a platform for sellers to advertise their products that has higher importance of selling in that particular weather condition. This was a huge success for TWC as presently around 50% of its advertising revenues are generated with the help of Big Data analytics.
Big Data is now the real star for the media and entertainment industry. It has now all the fame of the industry. It plays a crucial role in the evolutions taking place in the industry, though from behind the curtains. For the media and entertainment industry, their customers are the real leaders and Big Data is helping them to treat their customers like a one. The industry is now able to understand their customers in a much-improved way and is now acting accordingly. Big Data is the perfect administrator for the media and entertainment industry.