The Science of Personalized Data: Data Drives Success in Media
Media companies are no strangers to collecting and using data to make key decisions. Since the 1950s, American TV networks have used Nielsen ratings to inform their programming schedules. Newspaper and magazine companies have long used subscriber databases to attract advertisers to known audience segments. And as early as the 1920s, movie studios conducted test screenings to make sure films resonated with audiences.
While data has always played a role in media’s success, today’s data-rich and data-prized world opens up possibilities in new and amazing ways. Every Web page viewed, video played, link clicked and purchase made provides reams of user data. Add in the personal information that’s willingly shared by users of social media platforms such as Facebook and Twitter, and the opportunities to mine numbers for nuggets of insights seem nearly endless.
Indeed, successful use of big data offers big opportunities in the field of media — but the technology behind it has to be up to the task.
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Enterprises can now use data to make better business decisions, inform product marketing, create content and programming that resonates with distinct audiences, and engage consumers through social media.
In the world of news media, data journalism is a buzzy term that speaks to the trend of using data to drive the story. More and more, reporters turn rows of numbers into impactful text and visual narratives.
In addition, publishers today analyze metrics such as page views, social media shares and time spent on an article to understand which content resonates best with audiences — and what to serve more of.
Advertising agencies benefit from the deep well of data, too. Digital marketing tools and automated ad-serving technology allow brands to reach the right audiences at the right times, and on the right platforms. It’s a far cry from the days of hanging a highway billboard or airing a 30-second commercial in hopes that an interested consumer might see it.
All media organizations can capitalize on big data to improve operations and compete more effectively. But to do that, they need to adopt technology and processes that allow those breakthroughs to occur. Platforms that mine and bring together disparate sources of information, data models calibrated for optimal performance, bright minds that can interpret the results — all these factors play a role in data analytics success.
Social media has thoroughly disrupted traditional media and, in fact, daily life. But the power of these platforms can be harnessed for good, as many successful companies today know.
Social networks have become a primary platform to promote and share content, build and influence audiences, communicate with users and gain insight into consumer behavior. Businesses can strengthen customer loyalty, conduct market research, grow a customer base, provide customer service and learn about the competition through social media insights — if they know how to make sense of it all.
Download The Science of Personalized Data: Data Drives Success in Media (PDF) to read the full report.