Case study of BIG DATA& DATA ANALYSIS
About Netflix Netflix is the world’s leading Internet television network with over 53 million members in nearly 50 countries enjoying more than two billion hours of TV shows and movies per month, including original series. Members can watch as much as they want, anytime, anywhere, on nearly any Internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.
In today’s hyper-connected world, businesses are under enormous pressure to build relationships with fully engaged consumers who keep coming back for more. In theory, fostering more intimate consumer relationships becomes easier as new sources of data emerge, data volumes continue their unprecedented growth, and technology becomes more sophisticated. These developments should enable businesses to do a much better job of personalizing marketing campaigns and generating precise content recommendations that drive engagement, adoption and value for subscribers.
1. Data volumes continue their unprecedented growth, and technology becomes more sophisticated so it’s very difficult to manage the data
2. Personalizing marketing campaigns and generating precise content recommendations that drive engagement, adoption and value for subscribers is becoming more and more difficult
3. Achieving an advanced understanding of one’s audience is a continuous process of testing and learning. It demands the ability to quickly gather and reliably analyse thousands, millions, even billions of events every day found in a variety of data sources, formats and locations — otherwise known as Big Data.
Netflix, an undisputed leader and innovator in the over the-top (OTT) content space, understands this context better than most. It has staked its business and its brand on delivering highly targeted, personalized experiences for every subscriber — and has even begun using its remarkably detailed insights to change the way it buys, licenses and develops content, causing many throughout the Media and Entertainment industries to sit up and take notice. To support these efforts, Netflix leverages Teradata as a critical component of its data and analytics platform. More recently, the two companies partnered to transition Netflix to the Teradata Cloud, which has given Netflix the power and flexibility it needs — and, so, the ability to maintain its focus on those initiatives at the core of its business.
A Model for Data-Driven, Consumer-Focused Business
The Netflix story is a model for data-driven, direct-to-consumer and subscriber-based companies — and, in fact, for any business that needs engaged audiences to thrive in a rapidly changing world.
Netflix relentlessly tweaks its recommendation engines, constantly adapting to meet each consumer’s preferred style. Most of the company’s streaming activity emerges from its recommendations, which generate enormous consumer engagement and loyalty. Every interaction a Netflix subscriber has with the service is based on meticulously culled and analysed interactions — no two experiences are the same. Netflix has applied its understanding of subscribers and potential subscribers — as individuals and as groups — to make strategic purchasing, licensing and content development decisions.
The data and analytics platform methodology:
· Rapidly and reliably handle staggering workloads; support insightful analysis of billions of transactional events each day — every search, browse, stop and start — in whatever data format that records the events.
· Work with a variety of analytics approaches, including neural networks, Python, Pig, as well as varied Business Intelligence tools, like MicroStrategy.
· Easily scale and contract as necessary with exceptional elasticity
· Provide a safe and redundant repository for all of the company’s data.
· Fit within the company’s cost structure and desired profit margins.
Monetize Content & Brand:
An explosion of distribution channels and platforms. Shifting release windows. Emerging business models. Growing demand in new territories. Maximizing content profitability and performance. Teradata solutions provide the tools and analytics to protect and grow content value, while optimizing the bottom line.
As distribution shifts from physical to digital media, increased sales pressure means tighter margins. Media and Entertainment companies need tools to support forecasting and revenue planning for digital media channels, while squeezing every penny from traditional lines of business. Teradata can helps.
A proliferation of digital distribution channels is breaking down barriers between company and audience. For every click, fast-forward or search, company’s viewer leaves a data-driven fingerprint.