Media and big data
Big data is changing media and entertainment industry big time. Some of the take away from the data science for media are following.
Design validation: Most of the media companies are changing the design based on the input coming from creative heads but very few does A/B testing to validate the design. The pay huge cost later, if something is not liked by the user
Behaviour Analysis: It helps business to understand the behaviour at deep level. Create various bucket of users and analyse the behaviour and also capitalise on it.
Validator: The data validate the assumptions and let you invest in particular content or an activity more.
Content discovery and recommendation: The content discovery and recommendation is the key for the new age media. It is important for the media house to do better content discovery and help user to discover content based on their interest and consumption pattern.
Ad management: Data science help to do the Ad management completely dynamic. Keeping historical data and user behaviour into consideration. Currently, the organisations are not doing it except few and therefore they are loosing on significant revenue.
Performance and speed: It is important to have deep performance and fault analysis to deliver excellent user experience. Data will help to deliver the same.
Learning organisation: Having historical data and insight help organisation to learn from past mistake and success to repeat the good ones and leave the bad ones .
Monetise trends: Very few organisation are tune to monetise growing content consumption trends, be it social and others. Currently, they realise when the trend starts dying. The data science can help them to remain ahead of the curve. It will help to sense the trends early, so that it can be monetised well.
The current assumption is that data science is costly and therefore companies are shying away but with open source the cost has come down significantly. Try data science to unlock new revenue and potential for your organisation!