Impact of Big Data in Media and Entertainment

It touches on industrial needs, where it can be applied, other components of the industry and illustrate how they impact, and are impacted by customers, processes and products. The research is distinguished into a set of items required within the big data value addition, together with a designed structure that keeps development of important technologies that would eventually enhance semantic data enrichment, innovation that is driven by data, data analysis and data quality. Big Data in Media and Entertainment Literature Review What is Big Data? The term Big Data implies a large set of both structured as well as unstructured complex data which cannot be processed by traditional algorithms and/or techniques. Its aim at revealing hidden patterns and has brought about data-driven science paradigm from the model-driven science paradigm.

Boyd & Crawford interplays it on: a) Technology: utilizing the maximum power of computers together with algorithmic accuracy in gathering, analyzing, connecting and comparing big data sets. Some swift media houses today would have to come up with new content themselves. This can be seen by what Amazon and Netflix uses as their streaming services- the content is largely aggregated from content of others as much as they also commission original content to attract new and available subscribers. Media and entertainment players and customers are more connected than ever. This can be attributed to the effect of disintermediation, it is possible to generate content, curate, republish and share literally with anyone who has a device that can access internet. Deloitte approximated the global revenue emanating from such devices (smartphones, desktop PC, e-readers, TVs, tablets and wearable drones) to hit $750 billion in the year 2014.

Compared to other sectors of businesses, majority of workable media data is in digital form already (in which analogue products like newspapers have been produced via digital imposition for a while now). It is also important to acknowledge that the availability of data in digital form means fullest financial gain from the available data and upcoming data. A lot of reasons have come up urging for more research and policy creations need to be done in order to enhance the extrapolated ecosystem of varying businesses concerned with enhancing, analyzing together with delivering data and content. Entertainment and Media Industrial Needs Entertainment and media organizations earlier used to depend on data warehouses as well as business intelligence resources in order to report customers who have subscribed, its operation as well as analyze other forms of entertainment trends.

As we speak customers are able to select what to listen to and when together with downloading needed contents from the internet. It is no surprise that sharing playlists to a list of friends in individual’s facebook accounts together with liking a video or having a review of a book on amazon are today the basis of recommending a content to a customer. It is also understood that video game choice made in Western is due to recommendations. Knowing this impact and targeting it in a special manner lead to more popularity as well as revenue for the content. Also recommendations are being automated via analysis and aggregation of data behavior- “Big Data”. It can also be noted that consumers depend on algorithmic recommendation systems to aide them in choosing what to watch or read.

Possible Big Data Applications in Media & Entertainment fraternity Zillner et al. (2014a) describes and develops 6 applications scenarios for M&E. Both the scenarios stands in for organizational business models; but without the help of big data, organizations would not be able to mature existing pilot’s projects into future opportunities. Obstacles and Drivers of Big Data in M&E sectors Drivers • Aim to have in depth knowledge of customers, by analyzing varying types of interaction (for example, social media, product utilization, customer service etc). • Offering diversified services whenever it is possible. • Data industry is largely dominated by US large player like Google, Amazon, Apple. The players also have great dominance in subsectors like advertising, music, consumer media electronics and publishing • Varying speed of broadband penetration among nations, rural areas and cities.

This is a constraint for countries that would like to disseminate content that need high bandwidth for instance movie streaming in which the possible customer number goes down. Required M&E Data Resources for Big Data Requirements of M&E that need to be dealt with big data applications according to M&E Sectorial Forum are storage, processing, analytical software and networking. To achieve high-end big data capability the storage needs to be optimized for it. Data-driven inventions Key technologies spearheading drive for quality innovations are Internet of Things that increases diversity of streams of data available to individuals, tools to facilitate interpretation of customer-product/service interaction and machine learning for enterprise Conclusion Big Data is a large set of data including both structured and unstructured data that would rather not be processed by traditional algorithms and/or techniques.

Big data is required in Media and entertainment sector in order to utilize computational power and the general believe that big data can generate more accurate results and information in enhancing customer intimacy, availing information for payment and improving operational efficiency. Roadmap for Big Data underpinned in semantic data enrichment, data quality and data-driven innovations. In conclusion Big Data is a concept that is here to drive the Media and entertainment industry in achieving its target of generating revenue out of ever competitive industry with a reduced cost and diversification of its products. References Bakker, R. bing. com/cr?IG=2AA5C61CC7F6425D96064B75A69B4062&CID=1A5D0579D5DD62BE12BA0EB9D472638C&rd=1&h=6pjUQlh_A_9Or0ylyxfCQoGx0JkF6x1dAKEayf1PgBg&v=1&r=https%3a%2f%2fwww2.