Strong Data Analytics Leads to Greater Profitability Through Creativity
Many companies are using digital platforms that are acquiring more data on consumer tastes than ever before. These companies are not, for the most part, using their data to make creative decisions about how to produce content. They’re employing the data to match viewers to the content that meets their tastes. For example, Netflix was put on the map as a creator of innovative original entertainment. They accomplished this by connecting their content with their audiences in a way that broadcasters never could. This is how the wealth of data maintained by digital entertainment platforms can foster more creative freedom, not less. Instead of focusing solely on offerings with surefire mass appeal, these platforms can take a chance on unique content because they can deliver that content directly to the best audience.
Read More at The Harvard Business Review >