Netflix Uses Big Data to Improve Customer Experience

Data visualization plays a massive role for companies like Netflix. One of the most important things it is used for is consumer insights. Knowing what shows are the most popular, which ones people are requesting be added online, and even which show advertisement versions draw the most attention are essential information for the company. The big data Netflix plays a large role in how much and which Netflix Original shows to fund, which ones to pull the plug on, and which ones should have reoccurring seasons.

Companies like Netflix rely heavily on big data because if they are not carefully attentive and receptive to what people want, they can easily lose a large clientele. Something as simple as the way a show or movie poster looks can factor in what people want to watch. Analyzing the color, text, and positioning can allow the company to measure the distance between customers. Charles Smith, a software engineer, describes how: “average color of titles for each customer in a 216-degree vector over the last N days.” (wired.com article) “Visual Organizations like Netflix can ask better questions and make better business deci­sions based upon superior data, dataviz tools, and a culture that recognizes the importance of both” (wired.com article).

Read the article here: https://www.wired.com/insights/2014/03/big-data-lessons-netflix/

Data Scientists

A data scientist can be defined as: “a person employed to analyze and interpret complex digital data, such as the usage statistics of a website, especially in order to assist a business in its decision-making” (Google definition). Companies rely heavily on their data scientists and analytics teams to make sure the business is reaching their potential with their resources.

In an article published by techrepublic.com, it discusses how one can succeed as a data scientist even if you aren’t an analytic person. The article also talks about how data science goes beyond the numbers; factors such as personalities play a role in the career. There are 3 personality types that may fit well into an analytics career: drivers, expressive, or amiable.

A person with a driver personality can be described as: “very independent and emotionally controlled, but they are much more assertive than analytics. They take calculated risks and, above all, get things done.” A driver would be a good member to have on an analytics team because they can get things moving along in an attentive manner.

People with expressive personalities can be described as people who are assertive but do not have the same emotional regulator of drivers. These individuals focus more on the big picture of the company and would be more prone to taking risks to try to get ahead.

Amiable personalities are sympathetic, trustworthy, and passionate people who wear their hearts on their sleeve. They are often able to get to the center of issues and stress the importance of teamwork to achieve goals.

To read the article click here: http://www.techrepublic.com/article/how-to-succeed-as-a-data-scientist-even-if-you-arent-an-analytic/

7 Reasons Why Analytics and Big Data are Important

When it comes to big data and analytics, it goes beyond looking at graphs and statistics all day and interpreting information to present to a boss. According to the SAS website, “big data analytics examines large amounts of data to uncover hidden patterns, correlations and other insights. With today’s technology, it’s possible to analyze your data and get answers from it almost immediately – an effort that’s slower and less efficient with more traditional business intelligence solutions”. Let’s dive into some reasons why to analytics and big data are so important.

1. Reducing costs

Big data can bring significant advantages to cost when it comes to keeping large amounts of information. Companies are able to analyze the big data as well as company performance to hone in more on the areas that need improvement.

2. Facilitates better and faster decision making

Once a company is able to immediately know exactly which areas, products, or customer services need improvement, they then are able to make good and quick decisions based on what they have learned. The data can be processed and analyzed quickly with different tools, thus helping companies to become more efficient.

3. Opportunities for a company

With various social media platforms, video and audio files, blogs, emails, and instant messaging, the opportunities of the kinds of data to analyze are never ending. Companies can choose which areas of big data to analyze for them better understand their clientele.

4. Helps understand where, when, and why customers buy

The bottom line for any company is to make money, however the importance of big data helps take the business so much further. Whether it is a product or service, analyzing big data assists businesses in getting to know their customers better as well as better targeting them.

5. Predict market trends

The information from the big data is important to help a business keep an eye and predict future market trends. With the information from big data, forecasting can help a company stay on track and set goals.

6. Competitive advantage

Staying on top of big data avidly helps a company stay ahead against its competitions in the market. If a business is carefully analyzing and taking note of the effects of the data being presented to them, chances are they have the opportunity to be one step ahead of their competition.

7. It drives innovation and improvement

It’s hard for a business to improve if they do not know which areas they are lacking. Big data is the solution in this regard because of the information previously listed, such as honing in on specific areas, as well as pushing companies to innovate. Innovation goes further than developing new ideas analytically, but it is also important creatively. The way in which the data is displayed and what to do with the new knowledge from the big data analyzed encourage companies to think outside the box for themselves and their customers.

In conclusion, big data technology and analytics in general helps businesses to concentrate their attention on discovering hidden threads, trends, or patterns from piles of company data. It characterizes important information which can expose new ways of opportunities. The way in which this information is evaluated to helps to tap on into fundamental opportunities for the business.