Online streaming platforms are still gaining momentum all over the world. People are attending less and less to cinema theatre and consuming more online services such as Netflix, Hulu, Amazon Prime, Disney Hotstar to name a few. Netflix and chill is the new mantra for the millennial. They get all their favourite show streamed online. There are many movie and TV platforms available. These platforms generate content rigorously to serve a variety of demographics. But how do they know what viewers are craving for? Do they administer mass survey as a tool? Yes, of course, but there are a lot more advanced ways than just to do just a poll like old times. These global companies use unique data analysis tools adequately to create content that is universal as well as holds a modern market value.
What are data analysis tools?
There are smart tools available in the market that can help examine the abundant flow of data that is accumulating in the online outlets. The website obtains data on how people view things and how they access the same. All these data gather on numerous online forums. The data analysing tools turn these data into diagrams and maps. So that producers and creators can gain a better insight into the human psyche. Producers want to earn capital out of every venture, so they want to develop such content that will yield a better financial outcome. These platforms utilize data well.
Let’s discuss the type of information they may gather:
- While watching a show you might hit the pause button. What you paused on and what you fast-forwarded is useful data for the company. This helps them learn new things. They can correct their mistakes and formulate such scenes in the future in a more interesting and attention-grabbing manner.
- They trace the day when you usually watch new episodes. If you watch them more on the weekends they will release new episodes over the weekend. This will help them gain more reach and more traffic to their platform. They furthermore track the time of your viewing.
- They track your location. So, they would get to know which region is susceptible more to their content. If they see that a lot of traffic is coming from Asia, they might incorporate Asian Character.
- Analysts can also note the fact that viewers quit a show midway and never start watching them again. These statistics enable to expand platform content.
Platforms like Netflix, Mubi, Hulu analyse all these data and turn them into revenue. If they feel that the episodes are viewed more by young demographic, then they’ll introduce shows that heavily feature teen-life and their drama. The online platform uses the data analysis just like any huge enterprise does. It examines and defines human motifs clearly and supplies them with tailor-made services. The streaming platform also uses the same tactics while marketing their brand value. They use specific social media wisely to reach a more diverse audience. Skilled people are employed to analyse the data gathered by the tools to make the algorithm work effectively. The world of entertainment, when viewed through an analytical glass can be perceived in numbers and digits. The goal is to provide more improved and stimulating contents that compel the audience to watch just another more episode.