Description
Calculating how many people watch or listen to broadcast media such as TV shows and radio has always been challenging. TV ratings have been traditionally monitored by systems such as Nielsen ratings. This data is then used to do things such as renew or cancel shows and set commercial advertising prices.
Modern, internet based, media has changed this substantially. Streaming video companies such as Netflix, Hulu, and Youtube as well as audio services such as Spotify, iTunes, and the assortment of podcast systems are able to capture more data about their customers due to the nature of their business.
For this discussion, discuss ways in which the ability to capture a large volume of detailed data and use it for analytics has or can improve the ability of media companies to leverage that data into a competitive advantage and business success.
Your example can come from any area of media, such as:
Targeting content to certain audiences.
Generating viral ‘buzz’.
Pricing services.
Pricing advertising.
In your example you should highlight a couple of factors:
What, specifically, the organization has implemented.
What improvement it has made/could make over the status quo or alternatives.
The ultimate impact of the analytic change – e.g. more subscribers, better content, more advertising dollars etc…
The scope or impact of the chosen solution – e.g. is it a minor change or a massive organizational shift.
