Media & Entertainment
Media & Entertainment
Data Analytics in Media & Entertainment expands more every day. The list of applications stretches from the impact of social media trends on the audience, all the way to the complexity of rights management for paying talent. In between, there are complex scientific problems, such as how to efficiently use satellites to move digital media around the world. Or financial problems, such as valuing future cashflows from streaming services.
OmniData specialists have decades of experience in these applications and others. As a result, we are ready to jump in at a moment's notice and get our hands dirty, making you successful. Take a look at some of the successes we have achieved and get started on your digital transformation strategy today!
Profitability in the media & entertainment industry increases based on consumer knowledge from data analytics
Providing a subscription-based new media service allows you to collect very specific data about your customer, including demographic, location data, and preference data. Utilizing this data to build an understanding of the customer creates the opportunity to sell targeted advertising space to organizations.
We built a data environment for the customer to allow them to analyze and build an understanding of specific customer data along with usage data. As a result, our customer built a range of consumer profiles used as the foundation for selling targeted advertising.
Rights Management in media & entertainment carries lower costs through greater accuracy
Managing rights inaccurately will create legal bills through lawsuits that may be larger than the rights payments themselves. Accurate data management with modernized data techniques saves millions.
We went through archives of contracts of all types from paper to microfiche to newer databases. The older the contracts, the greater the potential problem. With a combination of human insight and machine learning, we identified the most vulnerable deal points and timeframes. Business affairs was then supplied with accurate alarm systems warning of pending payments that may otherwise of gone unseen.
Best Practices: Digital Transformation in Media & Entertainment
Studies show that the industry is moving from ad-revenue to consumer-revenue. This means that each media outlet must understand its customers and cater to their service accordingly. Thus, Digital Transformation is necessary for moving forward.
As spending is growing faster than profits, it is up to the company to decide how to cut their spending. Reports show that "companies aided by AI and machine learning have the power to be smarter about where and how they’re spending.
Because the media & entertainment industry is fragmented, companies must "get in the game, or get out" with respect to harnessing their data. Moving to a cloud model makes scalability easy. Moreover, AI and machine learning give companies the power to personalize their service.