Application Case 5

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Grand Canyon University *

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600

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Information Systems

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Dec 6, 2023

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docx

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2

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Application Case 5.2: AMC Networks Is Using Analytics to Capture New Viewers, Predict Ratings, and Add Value for Advertisers in a Multichannel World Questions for Discussion 1. What are the common challenges broadcasting companies are facing nowadays? Broadcasting companies face numerous contemporary challenges, including changing viewer habits and increasing competition from digital platforms. First, they must appeal to a new generation of millennials who consume content differently. Second, they must work on marketing to and connecting with audiences across all streams. They also need to take ownership of their data and utilize it to get a broader picture of their viewers, what they want, and how they can keep their attention in an increasingly crowded entertainment marketplace. Another part of the challenge is how much information there is available nowadays —hundreds of billions of rows of data from industry data providers. Lastly, they cannot rely on high-level summaries. They need to be able to analyze all the data "minute-by-minute and viewer-by-viewer." 2. How can analytics help to alleviate these challenges? Analytics serves as a powerful tool to address these issues by enabling networks to understand audience preferences and adapt to a multichannel landscape. Through insights from the data, broadcasters can tailor content and marketing strategies to capture viewers' attention in a crowded entertainment market. This data-driven approach provides an advantage over traditional ratings data and third-party analytics, helping networks remain competitive in the constantly changing media industry. 3. How did AMC leverage analytics to enhance their business performance?
AMC Networks leveraged analytics to transform its operations. By developing an in-house analytics capability and partnering with IBM, they gained the ability to analyze structured and unstructured data at a higher level. Being able to do that allowed rapid decision-making, from ad placement during TV shows to scheduling and content promotion. They achieved more successful campaigns and increased viewer engagement by utilizing data for direct marketing and viewer segmentation. Additionally, AMC is considering offering its data and analytics tools to advertisers, further enhancing their value proposition. 4. What were the types of text analytics and text mini solutions developed by AMC networks? Can you think of other potential uses of text mining applications in the broadcasting industry? In the broadcasting industry, text mining can provide several valuable applications. It can be used to analyze viewer comments and social media attitudes to measure public opinion on shows. Obtaining these insights makes it easier to tailor content to audience preferences. Furthermore, text mining can help identify emerging trends and discussions surrounding specific shows, helping networks stay ahead of viewer interests. Lastly, it can help advertisers improve their campaigns by analyzing public reactions to different ad content, leading to more effective advertising strategies.
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