data science application in OTT domain

how data science can help the OTT industry in different format

Transcript

1. Data Science Application In OTT Industry DHANANJAI KHANNA
2. “Information is the Oil of the 21st century and analytics is the combustion engine” - PETER SONDERGAARD (CHAIRMAN DECIDE ACT)
3. Potential question for an OTT company Before getting into data collection the main focus should be what is the requirement. ❖ CEO wants to know which genre is getting most of the viewership ❖Which age category is the biggest target market ❖ what payment method is the most used payment method in a country ❖ which social media platform is getting the most leads for the company ❖How many devices are associated with a single account ❖What content is getting least viewership in which country ❖ if the prices are reduced would the viewership base be increased or not ❖OTT platform (Netflix , Amazon-Prime , Hotstar) able to give competition to traditional media industry
4. Big data source In OTT industry Data is collected and stored in different categories. The source of this data depends on various attributes. ➢Web surfing data ➢Genre ➢Time spent ➢Social media ➢Purchase data (credit card, debit card, UPI) ➢Search history
5. Is it really necessary to use data analytics in OTT industry in India “India’s OTT video market will grow at a 21.8% CAGR from INR 4464Cr in 2018 to INR 11976Cr in 2023. Subscription video on demand will increase at a 23.3% CAGR from INR 3756Cr in 2018 to INR 10708Cr in 2023. The potential of India’s enormous scale will become reality during the forecast period with its OTT video market overtaking that of South Korea to become the eighth-biggest market in the world by 2023.” – PwC, India Report (https://www.pwc.in/press-releases/2019/global- entertainment-and-media-outlook-2019-2023.html) When an industry is growing at a huge scale like this there’s requirement of Big data Analytics at every decision node.
6. Key categories of big data analytics in OTT industry Operational analytics Customer experience enhancement Increasing the reach Pricing decisions
7. Increasing the reach of your platform and Pricing decision To get sufficient information regarding pricing decisions, OTT companies need to do a regressive analysis of the market. Since OTT companies work on an economic principle of Inelastic demand and Conspicuous consumption (purchase of goods or services for the specific purpose of displaying one's wealth or social status). Companies can manipulate prices above the cost easily once the customer base is set, but a lot of analysis is still required about the consumption habit of a new customer to increase the customer base.
8. Enhancing customer Experience Targeted Marketing and Personalization: offering Personalized plans for every segment of the customer (eg. Mobile plans, Ultra HD plans) Proactive Advanced Customer Support: Providing solutions to the identified Issues beforehand. (eg. Providing customers with a support dashboard that identifies their problems without much interation with support staff using artificial intelligence)
9. Operational analysis ▪Revenue leakages: Major problem faced by the OTT platform is sharing of user id and password among other that causes loss to the company ▪Cyber security and Information management: Cyber security is linked with customer-sensitive information such as contact details, credit cards, UPI id, watch history. This data is useful for an OTT platform to analyze but protection of this data to avoid fraudulent activities with customers should be the utmost priority.
10. “NETFLIX IS SLASHING ITS PRICES IN INDIA” Recently Netflix Gained A Huge Customer Base When It Reduced Its Plan Prices Drastically And Extensive Data Research Was Put Into Use To Comply With Cost Minimization. Plan Priced At ₹799/Month Was Reduced To ₹649/Month. Also To Prevent Revenue Leakages The Company Is Trying To Impose A New Strategy Of Linking One Account With Just One Family
11. How JIO marketing incorporated OTT platform to increase its customer base as well as OTT usage in India With the JIO fiber plan OTT subscription base is increased in India as it a collusive plan and without proper modelling and data analysis of the market this couldn’t be possible.