Big Data Strategies for Monetization
This document outlines 4 strategies for monetizing big data in the TV business: 1) Crowd knowledge - leverage explicit feedback from viewers to quickly produce popular content and reduce time to market. 2) Telling stories with data - use algorithms and data to automatically generate new content like recipes rated on different attributes. 3) Exploration - allow viewers to choose their own path through content and monetize the paths they take through personalization and exposure to new ideas. 4) Analytics - perform personalized analytics on large medical datasets to provide customized recommendations and interactions to viewers. Each strategy aims to increase viewer engagement and open new monetization opportunities through advertising, sponsorship, and sales of related goods.
Big Data Strategies for Monetization
- 1. Practical BIG DATA Strategies for Monetization in the TV Business Dr. Ofer Weintraub EVP Innovation @oferweintraub
- 2. Remember ?
- 3. Strategy #1: Crowd knowledge (explicit)
- 6. Crowd says Yes 71 % satisfied (4 or 5) Average rating 3.9 Is big data my new doctor?
- 7. Crowd can tell us what works for us too…
- 8. Where’s the money? - Put to production only what works - Reduce time to market - Achieve scale at low cost
- 10. An algorithm for creativity Input: Ingredient, region and type of dish Output: Plenty of new recipes (12-14 ingredients) rated: - By flavor - Novelty - Smell - Taste - Step by step instructions (future) IBM Watson project description http://www.theverge.com/2014/3/9/5483136/watsons -food-truck-ibms-supercomputer-learns-to-cook
- 11. Tell stories with data
- 12. Where’s the money? - New monetization opportunities (sponsorship, ads, goods) - Increased engagement & emotional binding (more time & commitment) - Recruitment and retention via social sharing
- 14. Where from here?
- 15. You choose the path – we monetize it
- 16. Where’s the money? - Monetize the path - Personalization = user satisfaction - Serendipity leads to exposure and expansion
- 18. Over 600,000 pieces of medical evidence 2,000,000 pages of text from 42 academic journals and human studies (clinical trials) based on oncology research
- 19. Personalization and analytics Interaction analytics Recommendations
- 20. Where’s the money? - Personalized services and ads - New offerings - Better customer management
- 21. Thank you