Comment 2:
Pros and Cons of Using Big Data in Movie Making (From Connie, 4/11)
The title of the article attracts me a lot. Because of the movie, the media, and the video are what we can reach every day. So I choose this article to go through and I found this is quite a good article. It not only provides the advantages of adopting big data in the movie-making industry but also give us some disadvantage and problems while using big data in the industry.
So here I’ll start from the 7 advantages:
1. Decision making: the decision-makers can receive a better result from the analyzed data. Especially for the entertainment industry, by using big data analytics, they could combine all the data together and indicate the best decision to compete with their competitor
2. Increased productivity: Because of some characteristics in the movie industry, the industry can gain a lot of data sources, at the same time, they can use the big data tool to generate with the analyzing data. Thus, they could reach a higher performance speed to meet the customer’s needs.
3. Reduce production cost: According to the second point, data analytics benefits the industry by increasing their operating productivity. At the same time, it helps the industry to cut down its cost by target with a precise market. In the end, they can reduce the waste of inaccurate targeting.
4. Improved customer services: This one is one of the common goals for using big data analysis. Because people nowadays enjoy entertainment content from their mobile equipment or smart devices. The way to get through the media is anywhere. And the time for customers to receive services is shortened. Meanwhile, the user’s data is collected to the company right after customers utilize the related devices.
5. Increased revenue: Integrate all the advantages above, it is easy for the company to increase its revenue.
6. Increased agility for Greater Innovation: Based on the benefits that big data analytics brings to the industry, it can adjust their strategy to a better situation. And it will all operate under a quick process. After changing the strategies, the company will then announce their new services and products to its customers. This process will also conduct faster compare to its competitors. So the company adopts big data analysis that could stay in the top place among the same types of industry.
7. Personalization: As we can see in the fourth advantage, the benefits of improving customer services. The company could know what are their customers' preferences and analyze what are each individual’s need.
Next, the article shows us some disadvantages that may happen while using big data. First, if the companies really operate big data analysis, they will need some expert to conduct the whole process. And this will lead to more costs because hire experts mean more payment. Second, the data quality may not be in an accurate condition if the company doesn’t make sure with each format of the product. Third, customer privacy may influence a lot. The company should make sure with every information from customers to storage under protection by the regulation or government law.
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