Media and Entertainment Industries Adopting Big-Data Technologies, Here's Why!
By Media Entertainment Tech Outlook | Thursday, July 04, 2019
The media and entertainment businesses have been continuously at the forefront of adopting innovative technologies, transforming customer experiences.
FREMONT, CA: The media and entertainment businesses are evolving at a fantastic rate, driven by the twin demands to reduce operating costs and simultaneously produce more revenue from increasingly competitive and unpredictable markets. Consumers today are observing and sharing more content than ever before, highlighting the importance of data analytics in media and entertainment. The incredible amount of data opens up massive opportunities for the media industry in content planning, bundling, and distribution. Media companies, in many respects, are an early adopter of big data technologies. Data is now being used on a broad scale to deliver the right content to the right personalities on the right platform at the right time.
Media businesses purely focus on customers, which has ultimately resulted in this transformation. Data is now being used to personalize user experiences by getting the precisely right content anywhere and on any device. The way media businesses measure the success of efforts is data. Media institutions include traditional broadcast and cable companies, etc. to transform the method of selling ads. Companies rely on using big data and advanced analytics to sell business results.
Latest smart devices have facilitated the accessibility of content via the internet, creating a highly demanding customer base. Industry players who are struggling to serve their audiences must uncover more in-depth insights from the streams of data collected. Businesses can then monitor social media to categorize data and draw logical conclusions from consumer insights. Marketers in the media and entertainment business must understand how their audience is communicating across various channels and screens. Following the path of empathy, marketers explore ways to create value from those interactions. Data analytics in the media and entertainment business holds enormous potential to transform the future of content personalization. It can unleash a brand-new era of innovation, support media businesses understand audiences, refine marketing activities, and enhance customer advocacy.