Media and Entertainment to Bank Heavily upon Data visualization & Analytics
With the advent of online platforms for distribution and delivery of digital content, the world of media and entertainment has regularly been witnessing radical shifts. All over the world, publishers, broadcasters, news organizations, cable companies and gaming companies today are facing new business models for the way they create, market and distribute their content.
The power being enjoyed by today’s consumers to search and access content anywhere, at any time and on any device is the key driver behind this phenomenon. As a result, there’s increased pressure to execute new digital production and multi-channel advertising and distribution strategies. They rely on a detailed understanding of consumers’ media consumption preferences and behaviors. And, as consumer interests shift from analog to digital media, there are substantial opportunities to monetize content and to identify new products and services.
Capitalizing the potential of data visualization and analytics, media and entertainment players are able to leverage their visualization and analytics assets for more profitable customer engagement. There are a number of ways in which media and entertainment companies can benefit from visualization and analytics applications.
Audience Interest Analysis
Immense possibilities lie in implementing data visualization and analytics within the media and entertainment industry, by gaining useful insights to understand what content, shows, movies and music consumers want. Viewing history, searches, reviews, ratings, location and device data, click streams, log files and social media sentiment are just a few data sources that help take the guess work out of identifying audience interest.
Enhanced Program Scheduling
With the help of insights gained through data visualization and analytics, the entertainment companies are able to understand when customers are most likely to view content and what device they’ll be using when they view it. Benefiting from the scalability of visualization and analytics solutions, this information can be analyzed at a granular ZIP code level for localized distribution.
Increasing Acquisition and Retention
Smart data visualization and analytics tools may help media and entertainment companies in understanding why consumers subscribe and unsubscribe, which will allow them develop the best promotional and product strategies to attract and retain customers. Unstructured data visualization and analytics sources best handled by data visualization and analytics applications such as call detail records, email and social media sentiment reveal often overlooked factors driving customer interest and churn.
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