You hear about the importance of having a strategy for Big Data, and you wonder: what are they talking about? There has been data since the beginning of human history, but without a doubt the irruption of computing, in the first place, and of the Internet and mobile devices, subsequently, have generated a real explosion of data, which continues to grow every minute.
It is impossible for a company oriented on video services to grow without a Big Data strategy: it must order, rank and take advantage of all the information it has at its disposal, especially from the audience that consumes the audiovisual products it offers. To know what your audience wants, you need to know them. And to know them, you need the data that characterizes them and know what to do with them.
What is Big Data?
We already talked about it in the Complete Guide to Big Data Management. In general, it can be said that Big Data is such a large data set that it cannot be stored or processed efficiently under traditional methods. Consequently, a strategy for Big Data is required.
If we think about the dynamics of today’s world, we will quickly appreciate how data multiplies exponentially every minute: online activity on social networks, online business transactions, administrative procedures in digital form, searches in browsers … At every step, we take we are “flooding” the context in which we live with new data.
Types of Big Data
Big Data can be:
- Structured, that is all that information that can be stored and processed fixedly.
- Unstructured, data that is not known and cannot be easily classified.
- Semi-structured, integrates data from the two previous categories.
Importance of Big Data
A Big Data strategy is crucial for an audiovisual products or video playback services company. Big data is a corporate asset: with the accumulated information on the behaviour of users, for example, new content can be proposed for the future or modify characteristics of the services, to make them more attractive to users.
Data Strategy and Analytics
Once you have understood the importance of big data, you need to design a Big Data strategy for your company and analyze it correctly. Consider the following steps:
- Think about data strategies that integrate with the company’s goals as a whole
- Define where you will capture the data from: for example, through a form located on the web or with a short questionnaire after playing a video.
- When analyzing data, think about your goals: do you want to develop new productions and for that, you need to know what your audience is looking for? Do you want to know how many monthly subscriptions yield?
How to Build a Data Strategy
At JUMP Data-Driven Video, a business data management platform designed specifically for video service players, we give you some guidelines as to a Big Data strategy: do you know how to build it?
You should consider three variables:
- Volume of data, for example, the number of views of specific content.
- Data rate, that is, the rate at which data is received and processed.
- Variety of data, with respect to the types of data collected and their diversity, as they can impact differently on the Big Data strategy.
At JUMP Data-Driven we offer different customized solutions that allow us to know the audience, know what they want, personalize the content and improve the user experience and their engagement.