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media and enetertainment Archives | Quantzig

Tag: media and enetertainment

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Leveraging Customer Segmentation Analytics for a Media Services Provider

The client: A leading media services provider

Area of engagement: Customer Segmentation

A media service provider is an organization that complements its business processes by adding a set of media services. The services include access to the internet, streaming media, and other value-added services. Media services providers (MSP) also enable an application to control media for a particular transport mechanism.

Additionally, media services can be offered through various mediums including video, audio, and even text media, all of which are used in communications, business, and entertainment. It starts right from the QZ- Request free proposalconception of ideas through to the final broadcast, including the design of content, and production.

The Business Challenge

The client, a leading media services provider, approached our team of experts to help them gain better insights into the customer’s needs and preferences. The client also wanted to gain a better understanding of customer behavior by grouping them into various segments. The media services provider was also looking at devising strategies to identify customers with the highest likely lifetime value or conversion rate. Moreover, they wanted to target best prospects and maximize customer retention.

Customer Segmentation

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The Solution and the Business Impact

The customer segmentation solution offered by the experts at Quantzig helped the media services provider to employ the best statistical technique for customer segmentation. It also helped them break down their potential customer base into smaller sub-segments. Moreover, leveraging Quantzig’s customer segmentation analytics aided the client in developing separate marketing programs that are designed to appeal various customer segments. This also helped them develop a customized and more focused marketing message.

Customer Segmentation Solution Predictive Insights

Customer segmentation is the most important area that directly impacts the profitability of any organization. This is because it helps in focusing a marketing campaign on customers that are most likely to respond, rather than targeting customers with irrelevant campaigns. Moreover, to maximize distribution strategies and value of the content, organizations need to understand their customer base. Quantzig’s customer segmentation solution plays a crucial role in bringing a uniform understanding across different departments. Therefore, customer segmentation should be implemented in business processes to make an impact on the overall business efficiency.

Here are a few media trends that are bringing about disruptions in the global media services industry:

  • Targeted advertising: Organization today, opt for targeted advertising strategies to maximize ROI by targeting the potential customer segments. It also helps firms to gain a better understanding of their target market; thereby, achieving better results with the advertising campaigns. It also enables companies to target end-users based on data that relates to the
  • Implementation of augmented and virtual reality: To differentiate themselves from their competitors, leading media services providers are incorporating advanced technologies such as virtual reality and augmented reality. Also, these technologies are gaining traction due to their ability to enhance the storytelling capability.
  • Wireless network technologies: Leading media services companies are focusing on leveraging the use of technologies such as 5G wireless network technology to maximize the capability of their services.

To succeed in this digital era, media services providers must consider implementing strategies to serve the end-user segments based on their needs and preferences. This necessitates the need for leveraging customer segmentation to target potential customers.


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Entertainment Industry Opportunities and Challenges You Need to Be Aware of in 2018

Trend prediction for various industries is one of the most trending topics at the beginning of each year. Industry experts keep a close watch on these trends so that they can be prepared for changes and alter their strategies to stay relevant in the market. Also, it is highly essential for businesses to keep a closer watch on the opportunities and challenges that are coming their way. This would help them prepare themselves to withstand contingencies and capitalize on the opportunities at the right time. Given the rapid rate at which content creation, distribution, and monetization is being disrupted in the media and entertainment industry, it becomes critical to focus on the changing dynamics in a more scrutinized fashion. Media companies have no option but to be on their toes and decipher ways to drive customer and brand relevance, strategic growth, and operational excellence. We have decoded a few opportunities and challenges that entertainment industry companies need to be prepared for in 2018:Free demo

Cyber risks

The rallying cry for companies over the past decade has been to “Go Digital.” As more media companies transform themselves into digital businesses, their technologies and the data running through them become the business. Which means that any security breach could have a more massive impact than it would on a company that is less reliant on its digital assets. Hence, for media companies, protecting both content and consumers is now a powerful imperative. Businesses in the media and entertainment industry must seek to prioritize and plan cybersecurity, protect their customers and assets, and undertake ongoing efforts to maintain that focus consistently.

Content is the king

No matter how much money is spent on advertising and promotions, at the end of the day, content is the king in the media and entertainment industry. Moreover, there is increasing competition in the sector to provide premium content and garner more customer attention. Furthermore, several players in the entertainment industry are investing heavily in original content and licensing. This is making content creation and acquisition increasingly challenging for traditional media companies.

Enhancing customer experience

The advent of technology has transformed the way consumers use and experience media. It has also raised the bar of customer expectations in the media and entertainment industry. To engage consumers in new and innovative experiences, media companies not only have to be highly creative but also provide a connected experience to the consumer through data and technology.

Gaining a foothold in the international market

Most companies in the entertainment industry are looking at opportunities to expand their operations and get the international audience hooked on to their content. However, economic nationalism and the prospect of higher trade barriers may impact global strategies. Media companies must also understand that each market requires a distinctive approach and formulate their strategies accordingly.

Adopting the latest technologies

In this technology-driven world, media companies need to embrace the latest technologies to prevent themselves from being deemed obsolete. Businesses in the media and entertainment industry must keep a constant watch on the most recent technological trends and evaluate its feasibility for their firm. Assessing various technologies for the company might prove to be a challenging task considering the capital investment and risk involved. As technology plays far more integral strategic and operating role, it can efficiently power everything from better procurement to more meaningful and actionable business intelligence in this sector.


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Error 404: Big Data Challenges in the Media and Entertainment Industry

The media and entertainment industry is growing at an unprecedented rate, with companies finding it difficult to keep up with the pace. The challenges arise due to pressures to keep the costs down while trying to improve revenues. Further complications arise as the media consumption habits of customers are highly fragmented. The trend of one big company dominating the market is gradually fading away, providing an opportunity for small players to complete successfully. One of the most significant trend observed in the media industry is the shift in media platforms from traditional channels to online mediums. As a result, it paves the way for the media industry to implement big data and data analytics technology to gain more profound audience insights. With a new source of data available to the media companies each day, companies can efficiently understand customer needs and deliver content that pleases the audience. However, with the rapid adoption of digital technologies, the media industry does face a few big data challenges which slows down their progression. To fully realize the potential of digital Free demotechnologies, the companies should successfully tackle these big data challenges.

Big data challenges in the media industry

Data privacy concernsData Privacy

Numerous leaks of personal information and media have been making the headlines recently. Consequently, consumers are being more sensitive towards their data and are concerned on how their personal data is being used. Additionally, policymakers have also addressed their issues and have implemented regulations for businesses that handle personal data. Such big data challenges can pose problems when it comes to accumulating sufficient user data, without which accurate analysis cannot be performed. Regulations have also been in place for companies that broker personal data to media houses.

Lack of financial muscle

One of the most significant big data challenges in the media industry is the lack of financial muscle for media start-ups and SMEs. While accounting for cost factors to implement data analytics, companies need to look at various factors including data storage costs, infrastructure costs, data processing costs, and human resource costs. Although it is relatively easy to start a new company producing content, games, or apps, it can be tough to scale up without significant investments. Thankfully, the advent of cloud storage and SaaS solutions have provided a way out for start-ups and SMEs.

Difficulty in talent acquisition

Talent Acquisition

There is a significant imbalance in the supply and demand of data scientists all across the world. The imbalance is mostly in terms of shortage of supply of analytics professionals. Furthermore, the demand for data scientists has been increasing exponentially, and there aren’t many professionals to fill the void. As a result, companies have to pay out hefty salaries to such professionals usually upwards of $100,000. The problem of talent acquisition is one of the key big data challenges in the media industry, which cries out for professionals in data journalism and product management.

Low penetration rates of high-speed broadband

A large part of the content delivered to the audience today is via online mediums. To facilitate this, high-speed broadband is a must. However, the penetration rates of high-speed broadband services haven’t been that impressive across the world as it is limited mostly to metro cities. Firstly, it reduces the potential customer base and then gathers data from only urban segment consumers. Analysts cannot gain insights into customers who lack access to high-speed broadband and thus resort to traditional mediums.

Piracy, copyrights, and account sharingAccount sharing

Piracy and copyright issues have been there in the media and entertainment industry for a long time. However, the advent of digital medium has created new big data challenges, the problem of account sharing. For the majority of video streaming sites, a large number of people gain access by sharing account information and passwords. Analysts will have a tough time performing analysis on customer preferences as they cannot pinpoint the demographic details of the user. Both the child and the adult may be using the same account, so an effective judgment is impossible on whether the child or the adult prefers a specific genre.

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Media and Entertainment Client Becomes More Data-driven in Its Decision-making Process with the Help of Big Data Analytics

media and entertainment industry

LONDON: Quantzig, a global analytics services provider, has announced the completion of their latest big data analytics solution for a leading media and entertainment client. In the recent times, the global media and entertainment industry has undergone a digital revolution. Mergers and acquisitions have been critical factors for the growth of the media and entertainment industry. Players in this sector are facing pressure to improve their process efficiency and cater to the ever-increasing customer expectations. To achieve this, leading companies in the media and entertainment industry are promoting their product and service offerings in the global marketplace.

“To stay relevant in the market, players in the media and entertainment industry are leveraging the use of big data analytics. These solutions facilitate companies to increase the use of sophisticated analytics software to boost their sales.” says an industry expert from Quantzig.

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The solution offered helped the client analyze their customers and their needs, and study the buying behavior patterns. The big data analytics solution also helped the player in the media and entertainment industry personalize products and services to suit their customers and efficiently calculate risks.

Additional Benefits of the Big Data Analytics Solution

  • Improve customer engagements and establish long-term relationships
  • Improve customer loyalty and reduce churn rates
  • To know more, request a free proposal

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Popular Entertainment Industry Trends to Tune into in 2018

Technology is one of the key entertainment industry trends for this year, opening up new opportunities, media trends, and creating new revenue models for the players in the media & entertainment industry. Click To Tweet

It is a given in the media and entertainment industry that without the fans and followers, companies would see doomsday. Technology is one of the key entertainment industry trends that has massively disrupted this sector, opening up new opportunities, media trends, and creating new revenue models for the players in the entertainment industry. The way people consume media and entertainment has drastically changed over the past decade. Gone are the days when the audience was forced to watch what the entertainment channels decided to broadcast. Thanks to the advent of such entertainment industry trends, today’s customers have the power to choose what they want on demand, anytime, and anywhere at their convenience. 

This trend is highly prevalent among millennials, who spend the majority of their time streaming videos online or downloading them rather than watching it on the television. Netflix and Amazon prime have typically become a mini-home theatre for the audience. Interestingly, technology isn’t the only factor that is driving the entertainment industry trends today, here are some of the other factors that are driving the growth and changes in the entertainment industry:
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Major Threats to the Media and Entertainment Industry on Social Media

The media and entertainment industry, being highly visible and in the spotlight at all times must ensure that they maximize exposure at places where the customers are most active. While exposure can benefit companies in this industry in terms of marketing their brand, sales, and garnering a stronger customer base, it can pose significant threats to security, risk, and compliance.

The enormous amount of engagements occurring online makes it easier for spammers and hackers to exploit interactions between the brands and their customers. Social and digital risks can have a massive impact on the entire company as a considerable amount of customer and company credentials are involved.Free demo

Brand impersonation

‘Fake profiles’ have become quite a common term on social media. Illegally obtaining customer data, extracting money, and spreading malicious content are some of the primary motives of this practice. The most prominent challenge here is that it is quite easy to build a fake account online and impersonate some personnel or a brand for illegal activities. These accounts can also be used to scam employees to extract vital company information and credentials from them.

Account Takeover

In the basic sense, it means to hijack the social media account of companies. As far as companies in the media and entertainment are concerned, their social media profiles are highly critical as it an essential medium for them to stay connected to their audience and build the brand’s reputation.  Account takeovers by a third party or a hacker can result in breaching of the brand’s privacy, tarnishing the brand image online and eventually losing the trust of customers.

Promotion of Piracy

Pirated content is a significant threat to the media and entertainment industry as it involves illegal showcasing and sale of media content to the public, which eventually affects their revenues. Pirated content relies on digital marketing content, the players involved in piracy can use practices such as intruding existing online conversations and using particular hashtags to market pirated content.

Customer Scams

Customers scams and frauds have made headlines in the recent past. Social media is a platform that engages millions of users in one go. Hackers take advantage of these engagements to extract vital customer data through surveys and offering exciting and irresistible offers for the customers. Many fake customer support accounts of social media collect such data from customers in the name of providing services and later use this data to obtain money from customers and advertise pirated content to them.

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4 Trends in The Music Industry That Everybody is Going “Gaga” Over

music industry

From Walkman to iPods and to now streaming music online, the music industry and technology have together witnessed an evolving and fruitful relationship over the years. Many of us might remember spending considerable time at a music store, in search of a favorite music CD or browsing through the store’s music library and shelling out a considerable amount of money collecting the most popular music CD’s. Little did we know back then that music would be as accessible at the click of a button in the years to come. And what is even better? It doesn’t even go heavy on your pocket! That’s not all, are you ready to discover what is trending in the music industry? So tune in as we take you through the most popular music trends:Free demo

Shift from Record Labels to Independent Formats

Record labels are popular for faithfully clinging on to poster children, and ignoring new talent. But is this going to stop budding artists from showcasing their talent? Thanks to technology, the fresh blood in the music industry are taking to platforms such as social media and music streaming platforms. With a vast number of audience exposed to online platforms, the opportunity for new artists to gain popularity has increased. This has eased the barriers to entry and exposure in the music industry.

Growing Popularity of Live Music

The advent of walkman and iPods in the late 90’s and early 2000’s proved to be a wrecking ball for popular music trends such as live music and concerts. However, recent trends show the rise of music festivals, promoting live performances not only by big names in the music industry but also providing scope for new artists to showcase their talent. This trend is expected to grow in the coming years as well.

music industry

Cryptocurrency in Music?

With the price of bitcoins soaring up, cryptocurrencies have become the new buzz word in the market. Bitcoin in music, you wonder? Players in the music industry are looking at ways to integrate bitcoins as a medium of payment to download or stream music albums by customers. This will help artists, record labels, producers or performers involved with a music track to assign the music usage rights to customers in real time, and the cryptocurrencies ensure safe mode of payment.

music industry

The Dawn of AR and VR in the Music industry

VR and AR have made the impossible possible. Many music industry players have recently started to experiment with AR and VR technologies to give the audience a more lively experience, making their dream to see their favorite artist up close a reality. A popular example of this technology being commercialized is a few years back, when 2pac came to life at Coachella 2012. Therefore, you can surely expect AR and VR to become one of the viral music trends in the near future.


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Answers to the questions

4 Media Trends That Will Make You the Steve Jobs of Film Industry

Filmmakers are story-tellers who are constantly looking for new ways to captivate their audiences.  Today, the players in the film industry are leaving no stone unturned to create a superior visual experience for their audience that would be etched in their memory for a long time. So, grab some popcorn while we take you through the top 4 media trends that are trending in the film industry:Free demo

Lord of The Films: Virtual Reality

Movies take you to a totally different world, but with the help of virtual reality – quite literally! This is one of popular media trends in the film industry today, which aims at creating an immersive and interactive audience experience. How cool would it be to feel that you are inside the movie right? But the use of VR technology in the film industry is still at its nascent stage as the movie makes are gradually figuring out ways to pull off a good balance of artistic talents and technical skills using virtual reality. Once this technology is perfectly put into place in the film industry, it will pave the way for an ‘out of the world’ movie viewing experience.’

media trends

Mobile Film-making Rises

With mobiles dominating our lives, it is not surprising that players in the film industry are venturing into mainstream mobile filmmaking. By venturing into mobile filmmaking, filmmakers get the opportunity to cut down on costs associated with the use of traditional cameras and will be able to create content on the move. Since the popularity of mobile filmmaking is growing, mobile manufacturers are rapidly developing smartphones with higher camera quality and apps that support HD video recording.

Era of “Netflix and Chill”

Media trends like electronic home video or on-demand streaming services have experienced sky-rocketing popularity in the past few years. On-demand streaming services like Netflix and Amazon Prime have become so successful that they are not just broadcasting the best films and TV shows anymore, but have also started producing content themselves.

Drone is in the Air

Filmmakers have been relying on drones to shoot aerial footage for years, but earlier they had some major limitations such as short battery life and inconsistent film quality due to which they took a backseat in the film industry. However, the drone technology has evolved in the recent times, making them an easier,  cheaper, and faster technology for exceptional shots from various angles.

drone

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Recommended For You: Data Analytics in Movie Recommendation Engine

The media consumption habit of consumers has primarily shifted from what it used to be. Instead of sitting in front of the TV and watching movies aired by the favorite channels, going to the movie theatre, or renting movie titles recommended by a friend or a store owner, people are watching movie online on apps like Netflix, Amazon Prime Videos, or Hulu. Watching a movie in such apps is only one part of the experience; getting movie recommendations which largely suit user preferences using movie recommendation engine is the truly remarkable other part of the overall experience. The data analytics algorithms are so impressive that a vast majority of the users end up watching movies and shows from the recommended movies section.Free demo

What Kind of Data and User Behaviour are Captured?

To create a movie recommendation engine that is accurate and personalized , enormous volumes and varieties of data should be collected. The data comes from millions and millions of customers that are members of such movie streaming services. Since all content is consumed in the digital medium, all user-behavior related data can be easily collected. As a result, companies can create personas of the users of what their average customers look like. Here are some metrics or user-behavior data that is collected by a movie recommendation engine:

  • Movie or show completion rate (how many users completed the full movie)
  • Date and time when the content was consumed
  • Geographic location and zip code of the user
  • Device used to view the movie or show
  • Ratings
  • Reviews
  • Browsing and scrolling behavior
  • When a movie is paused, rewind, or fast-forwarded

How Data Analytics is Used to Create a Movie Recommendation Engine

When you sign-up for movie streaming services like Netflix or Hulu, apart from asking your general details, they also ask for their interests, movie genres, and rate some of the movies in their database. Its built on the premise that if the algorithm cannot suggest a movie that the customers would like to watch, they will eventually cancel their subscription. So, to keep them interested, they rely on your personal preferences and outside sources to make sure the algorithm suggests a movie that you end up watching. But is the movie recommendation engine efficient? Netflix recently tweeted that the recommendation algorithm drives 75% of their viewer activity. Movie streaming services have spent a considerable amount of resources on improving the accuracy of their recommendation algorithm, by hosting contests, hiring experts, and investing in infrastructure. For instance, by gathering massive amounts of data Netflix realized that a lot of people liked “The Social Network” directed by David Fincher, and British version of “House of Cards” had large audience base, and finally those who watched the British version also watching movies with Kevin Spacey and those directed by David Fincher. By factoring in these three data points, Netflix created an American version of House of Cards with both David Fincher and Kevin Spacey.

Going Beyond the Movie Recommendation Engine

Movie recommendation engine is only one aspect where movie-streaming companies can use data analytics. The underlying principles and data analytics technology can be used to analyze user preferences and behavior to customize personalized trailers, promote subscription plans, and provide discounts. Additionally, companies can also decide on which movies to license since renting movies from studios is very expensive. They use metrics which is close to ‘maximum entertainment gained per dollar spent’ to decide which titles to license.

Notable Movie Recommendation Engines

  • Rotten Tomatoes
  • IMDb
  • Netflix
  • Movielens
  • Hulu
  • Nanocrowd
  • Jinni
  • Taste Kid
  • Metacritic
  • Amazon Prime

To know more about how movie-streaming services companies use data analytics to create a movie recommendation engine, content personalization, movie suggestions, and content management system: Get more info

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Why Media and Entertainment Industry Needs Audience Analysis to Create Content that People Love?

As the world of marketing is moving towards customization and personalization, so is the media and entertainment industry. This industry is discarding the traditional method of creating content for the masses. The advent of network TV, DTH, and online streaming has revolutionized the media and entertainment industry as the content creators can figure out how many people and what kind of people are watching their content. Audience analytics is the prime reason why companies are eager to shift their media delivery platforms to gain audience insights and provide personalized content.Free demo

Importance of audience analytics in media and entertainment industry to gain audience insights

Understand Content Performance

Companies are using audience analytics to evaluate their content performance and create content that will be loved by the audience – and there is no better example of companies using audience insights than Netflix. Netflix performed audience analysis by processing massive data sets to determine whether their audience preferred the work of the director David Fincher. Additionally, it was also evident that movies featuring Kevin Spacey had always done well along with the British version of ‘House of Cards.’ Combining these three data sets, Netflix came up with the American version of ‘House of Cards’ directed by David Fincher, starring Kevin Spacey, which is already the most streamed content in the US and 40 other countries.

Content Personalization

The companies in the media and entertainment industry can identify consumption patterns of the audience to gain valuable audience insight regarding viewership, preferences, social media platforms used, and watching habits. Extensive knowledge on which audience is watching the content in what device along with the factors that motivate them to click or watch can prove to be valuable in marketing and programming strategies. Consequently, such data can be used to enhance and personalize their experience.

Advertising and Marketing Efficiency

The revenue model of the media and entertainment industry is largely dependent on highly targeted ads. The further the customer moves along the sales funnel, the higher the revenues from advertisements. Audience insights help companies to pinpoint customer preferences on what content people prefer during specific a time and duration. Such data dramatically improves the efficiency of advertising and marketing programs, resulting in higher conversion rates.

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