While companies are offering more subscription-based and registration services and collecting vast amounts of data about their users, most of the potential is still going unused.
Such is the conclusion of a new paper from GfK, ‘Big Questions, Big Answers: Will harnessing smart data for audience analytics save the broadcast industry?’, which explores the benefits of Big Data for broadcast and outlines the future it has for the TV industry.
Key decision makers and executives from 14 media groups were interviewed, from companies that serve over 70 million subscribers and deliver content that reaches nearly a billion people every day.
“The potential offered by Big Data is immense. Currently, everybody is engaged in data experimentation and there is a lot to fight for,” comments Niko Waesche, Global Lead of the Media and Entertainment Industry at GfK. “There are some key questions and challenges around the use of Big Data, especially within a rapidly evolving TV consumption model. Our latest paper looks at how Big Data is being used in the real world specifically in our industry, and where Big Data will be headed in years to come.”
The report also looked at how the type of data we need today is changing: a diverse and increasingly demanding TV audience has forced operators to move away from asset-based data to more powerful behavioural analysis to better understand and respond to the needs of content curators and advertisers.