It’s 2018. Our world has more information than we know what
to do. In the past, only the government had access to all the information.
Today, private companies are being granted access that information. In 2017,
only 53% of companies are utilizing big data. It is setting companies apart and
becoming a competitive advantage.
There are tons of objectives for big data. The purpose I
view most important for big data is gathering more insights about the
customers. One popular brand, we all know and love, which is a rock star in
this ideology, is Netflix.
With over 117.58 million worldwide streaming customers, data
and analytics are Netflix’s biggest assets. It has made them more successful
than networks such as HBO.
An important feature Netflix uses is their recommendation
algorithm. With customers rating movie genres and previous
How successful are they? Over 75% of viewers based their TV
decisions from the algorithm’s suggestions. This allows Netflix to gain
customers’ trust and allows them not to get information from outside sources.
So what else can Netflix track? Netflix has complete access
to:
• When we pause,
rewind or fast-forward content (do you ever skip a TV shows theme song?)
• What day of the
week we watch Netflix
• The exact date we
watch Netflix
• The zip-code
where we watch (okay, maybe that’s a little scary)
• The type device
used to view The ratings, which users give 4 million ratings a day
• Also, Netflix
keeps tracking what we do when the credits roll. Do we leave the app? Or, do we
continue to watch more Netflix?
This information has improved Netflix’s customer experience.
With this information, the company has altered their user experience.
So you’re probably thinking, okay, maybe big data is
essential to my business. The answer is, data and analytics are critical when
gathering and managing information about the customer.
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