The TV industry is a constantly expanding and evolving world. With unforgettable classics like the Star Trek series in 1968. To the hilariously absurd mockumentary, The Office. To the dark and modern House of Cards. Besides differences in their storytelling structures, these shows were diverse in terms of the platforms they were available on. Today, more and more people are living boring old television behind, and are turning to websites like Netflix for good shows and movies.
The growing popularity of online streaming apps and web companies like Amazon Prime and Netflix has boosted the quality of content available to viewers. Netflix’s ground-breaking predictive analysis algorithm has proven that content creation for media entertainment is just getting better and better.
However, viewers have always been eager to use a wide range of platforms for different experiences. While TV providers are fighting a tough battle against online streaming companies, they are using every means possible to stay in the race. And with the recent boom in data analytics, cable TV providers have taken full advantage of big data. Right from enhancing their customers viewing experience. To utilizing cutting-edge big data solutions to learn more about their viewers and their preferences. And subsequently, leverage these insights to adjust their channels’ content according to the demands of the audience.
But who watches TV in the age of online streaming?
Surprisingly, a large chunk of people still relies on their TV sets as a source of entertainment and news. In America alone, an approximate number of 50% of households still subscribe to cable TV providers. Such as Time Warner Cable, Charter Spectrum, and Comcast. Studies show that these households spend almost five hours a day in front of a TV.
And that’s why data is highly essential for the TV industry. Not only do providers and production companies gain profits by creating engaging content. But it also allows advertisers to create more targeted advert content. Which can be run at opportune timings for specific audiences. For example, Time Warner Cable is able to provide personalized advertisements to their viewers with the help of growing data sets available to them.
However, before cable companies can do anything with big data, there remains one question to be answered. Where is the data coming from? Without the algorithms and direct connectivity which companies like Netflix have, how are cable providers getting data to come up with actionable insights?
According to an infographic shared by Telco Transformations, there are a number of ways cable companies can mine relevant data to gain insights. These sources include field operation and administrative data, geographic information systems, content and customer management systems.
Data can also be gained from customer premise equipment (CPE) which include internet modems, Wi-Fi routers, phones and other third-party equipment. Certain companies also use public data sets available, such as real estate records, and voter registration records and demographics.
Hence, by using these datasets, content suppliers, advertisers, sponsors and network providers can now create detailed customer profiles. They have a wealth of information, with which they can shape their content or channel.
By breaking down huge data sets of viewer information, they can glean useful and profitable action points.