NETFLIX (BIG DATA ANALYTICS )
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The document presents a case study on big data analytics, focusing on its application within Netflix and the media industry. Key insights include the importance of big data in enhancing customer experience, driving strategic decisions, and informing content development, exemplified by Netflix's successful shows like 'House of Cards.' The study underscores the relationship between big data and algorithmic culture, highlighting how user data shapes personalized recommendations and the future of media consumption.
NETFLIX (BIG DATA ANALYTICS )
- 1. Aditi Prasad (820001) Ankush (820002) Anshu Sharma (820003) CASE STUDY: BIG DATA ANALYTICS Bhavya Sachdev (820004) Bipin Kumar (820005) Jatin Kumar (820006) Presented by
- 2. CONTENT ● Introduction: Big Data. ● Methodology. ● What is netflix. ● Strategic analysis. ● Big data in media industry. ● Why was this big data problem. ● How netflix uses big data ● The algorithm culture. ● Conclusion.
- 3. INTRODUCTION WHAT IS BIG DATA? ● 1 .It is a massive amount of data which cannot be stored, processed analyzed using traditional tools is known as big data. ● 2. Big data analytics is a process to extract meaningful insights from big data such as hidden patterns, unknown correlation, market trends and customer ● WHY BIG DATA ● Product development. ● Better decision making. ● Risk management. ● Improving customer experience. ● 1. TYPES OF BIG DATA ● Descriptive analytics. ● Diagnostic analytics. ● Predictive analytics. ● prescriptive analytics.
- 4. APPLICATION OF BIG DATA ANALYTICS . ● Smarter health care ● Telecom ● Trading analytics ● Manufacturing ● Traffic control ● Search quality TOOLS USED IN BIG DATA ANALYTICS 1. HADOOP 2. TALEND 3. KAFKA 4. STORM 5. SPARK
- 5. METHODOLOGY 1.Results of this study will be based on secondary research by means of text analysis. 2.The aim is to illuminate the development of big data in combination of netflix’s algorithmic developments 3. Connecting dot between the words big data, media industry and netfliX 4. How netflix used big data to lead in media industry 5 Key terms : media industry , netflix , recommendation systems and algorithimic culture.
- 6. What is NETFLIX ➤Netflix is American based service provider. ➤ Netflix was found in 1997 by Reed Hastings and Marc Randolph in California. ➤Netflix has grown to become a worldwide multi- platform on-demand television and movie broadcaster ➤It provides streaming movies, TV show , web series etc. ➤Show House of Cards was success prior to shooting any scenes(2013)
- 7. STRATEGIC ANALYSIS BUSINESS GOALS ● To entertain the world. ● To expand globally and diversify its audience ● To create a better customer user experience. ● To prioritize user preferences KEY CHALLENGES ● Revenue from overseas ● Content over-spending ● Fierce competition (Disney+, HBO max, Amazon) ● Content Fragmentation
- 8. Big Data in Media Industry The media industry is using big data to extend automated recommendation systems now occupy a central position in the circulation of media and cultural products. ➧Big data is extensively used in the media landscape and allowed to grow due to the exponential growth of other media platforms such as smartphones, the low cost of broadband storage, and increasing accessibility of the Internet Big data has been employed by media companies’ strategies and actions for a number of beneficial reasons: ·➤To better understand cross-platform audiences, ·➤Create powerful data journalism stories, ·➤Streamline business processes and ➤Identify new products and services to offer customers (Stone, 2014).
- 9. Why was this Big Data Problem There are four Vs ➧ Volume ➧Velocity ➧Veracity ➧Variety
- 10. ● When you pause, rewind, or fast forward ● What day you watch content. ● The date you watch ● What time you watch content ● Where you watch (zip code) ● What device you use to watch ● When you pause and leave content (and if you ever come back) ● The ratings given (about 4 million per day) ● Searches (about 3 million per day) ● Browsing and scrolling behavior ● Netflix also looks at data within movies. They take various “screen shots” to look at “in the moment” characteristics. How “Netflix” uses big data?
- 11. You may also think that the show House of Cards was chosen because Netflix "thought subscribers might like it." But the truth is much, much deeper. The $100 million show wasn't green-lighted solely because it seemed like a good plot. The decision was based on a number of factors and seemingly almost entirely on data. Netflix distributed 'Orange is the New Black' knowing it would be a big hit on their platform. Remember "House of cards"
- 12. THE ALGORITHM CULTURE ● More customer data produces more sophisticated recommendations and vice versa ● Algorithmic culture means that it is not the culture being shaped by the data, rather, it is the culture that shapes the data. ● Netflix’s recommendation system is based on this algorithm system ● Netflix is building its highly personalized genres and own content thus constantly facilitating the development of this algorithm culture.
- 13. CONCLUSION ● This has further resulted in an algorithmic culture, which means users are becoming their own gatekeepers and are able to indirectly set their own agenda. ● Thus, future success of Netflix can be based on two aspects: the new recommendation system based on user’s enjoyment and the agenda-setting theory in relation to the algorithmic culture ● Our Study focussed on the media landscape and indicated that big data is playing an important role in not only the distribution but also the production of media content. ● These developments have given rise to extreme personalisation and customisation which has resulted in an accurate recommendation system for Netflix.
- 14. THANK YOU