How is ‘Big Data’ influencing OTT TV?
We have all heard the term ‘Big Data’ and it’s been hanging around the TV industry for many years. But what does ‘Big Data’ mean today as the next frontier for OTT service providers?
Data is being generated by everything around us, all day long. Every digital process – from smart sensors and mobile devices to social media exchanges – produces it and as our world becomes more and more connected, big data is being generated at a phenomenal rate and variety.
The recent Digital TV Europe Industry Survey 2017 reveals how big data could potentially shape the OTT TV experience, as well as deliver additional revenues and new business models for service providers. However, what needs to be done to ensure data can be profitable for businesses remains a subject of heavy debate.
Prepare for impact – The collection and use of big data will have a significant impact on the TV experience, with 75% of those surveyed believing it will either completely transform or significantly improve the TV experience in a positive way.
Recommendations rule – It’s believed that content delivery is where big data will have the biggest impact. More than half of those surveyed think big data’s ability to deliver content recommendations will have a very positive impact on OTT TV’s success as well as the end user’s experience.
When it comes to pay-TV, there is great potential for big data use cases, including the analysis of user behaviour data and content consumption data to make decisions about how to market services, how to personalise those services and what content to create in the first place.
“For viewers, TV operators and rights-holders alike, big data offers a multitude of potential benefits – from more personalised experiences and fewer irrelevant ads, to stickier services, reduced churn and deeper insights that can inform critical decision-making.” Gregor McElvogue, Director of Offering Management at IBM Cloud Video
“Having insight on each subscriber and their viewing habits means that upsell offers can be delivered in a more targeted way to not only prevent churn, but increase revenues.” Tom Weiss, CEO at Genius Digital
At Paywizard, we understand the challenge of data and if fully leveraged, data can be a game changer for operators aiming to increase acquisition and ARPU, whilst reducing churn.
“To improve the customer experience it’s important to structure data to give you full insight into your customer base throughout the entire customer journey. At Paywizard, we do this for our clients and provide a framework to them to make great decisions and pro-actively engage with their customers. We can also help them to use predictive modeling and techniques to identify potential churners with ease and provide personalised offer recommendations most likely to entice them to stick.” Bhavesh Vaghela, CEO at Paywizard
To hear more from Bhavesh about customer experience and how to take a more customer-centric approach check out his video.
Do you want to drive down churn with predictive analytics – get in touch, we’d love to chat!