You’ve heard friends say, “I just finished season 5 on my Netflix show and now it’s on the another.” Seems that when it comes to TV, Netflix is usually in the conversation. In fact, Nexflix added more than 8.3 million new members in the last quarter, and is ranked fifth on Forbes’ Most Innovative Company list.
Great content? Yes. Luck? No.
So, how does Netflix create these binge-worthy, original and award-winning shows, the ones viewers feel as if they were made just for them? In some way, they’re absolutely right. Netflix’s game-changer is the ability to translate member data into insight as to what members want to see. And, that creates must-see TV on a whole new plane.
A recent Forbes article stated, “Data-driven platforms are giving high-quality, innovative entertainment a place to shine. Why? Because they can connect content and audiences in ways that broadcasters never could.”
Your company has that same power. Every company has a myriad data about their customers and other important groups at their fingertips, but not everyone has cracked the code to find the TRUE VOICE of their TRUE AUDIENCES.
While companies look at such measurements as viewership and sales data, unstructured data – the firehose of social and digital data that comes at companies every day — is where the gold lies. And mining that gold to structure this data allows any company to find the TRUE sentiment and behaviors from its TRUE audiences.
Once you’ve identified which audiences really matter to you and have a clear knowledge of what they want and need, you’ll be able to put this intelligence to work to find the insights that dictate smart strategy and action for success, across the enterprise.
Even with powerful intelligence, data and audience insight, you may have not another Orange is The New Black. But, chances are you will have black ink.