5 Ways Big Data Plays a Major Role in the Media and Entertainment Industry

Source: https://www.maropost.com/5-ways-big-data-plays-a-major-role-in-the-media-and-entertainment-industry/

Before the existence of big data like now, media and entertainment industry experienced a time where they had to read reviews, audience feedback and interviews, and TV shows chart ranking to obtain customer data and insight. But thanks to the growth of big data, companies can simply track clicks, views, favorites, reviews, shares, and more to know customer’s data. This article shows how big data took an important part in the media and entertainment industry in 5 ways.

1.     Predicting What Your Audience Want
On a daily basis, media and entertainment companies are capable of collecting a huge amount of data about their customers. However, it takes time to analyze the data properly and translate it into useful information. In this case, big data is taking the role to make it possible so companies can predict the demand for shows, music, and content appropriate based on the age categories.
2.     Insights into Customer Churn
The existence of big data has made it possible for companies to know why their customers have subscribed and unsubscribed the content. Also, what kind of content customers like and dislike.
3.     Optimized Scheduling of Media Streams
Big data provides insight for companies to identify exact time customers likely to see the content and so it will help to increase brand loyalty between company and customers.
4.     Content Monetization
Using big data analytics allows companies to analyze consumer data and understand what the current market demands better.
5.     Effective Ad Targeting
The last role big data plays for the media and entertainment industry is giving a clearer picture of consumer behavior across various platforms. Moreover, it allows advertisers and companies to better understand the kind of ads consumers are willing to see.

Kelly 陳莉時
D0731529

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