The Australian media landscape is undergoing a massive overhaul, forced by competitive and consumer pressures to change the way they deliver information to the general public, with digital and non-traditional means now at the forefront. This need for change has also translated into demand for information from within, with business leaders now awash in data from clicks, views and shares. The ability to access, analyse, and manage vast volumes of data is increasingly critical to media and entertainment companies looking to improve business efficiency and performance. Our work with different types of media companies like Fairfax and Network Ten has shown that the challenge is not to generate the data but to integrate multiple data flows into their traditional operations and use it to fuel decisions.
Single View Of The Customer Across All Platforms
As media and entertainment companies broaden their content delivery platforms and offerings, they must understand how customers interact with each to fully see customer value and opportunities to up-sell and cross-sell. Knowing how customers change their preferences for certain platforms over time is important. Such an understanding also enables setting of justifiable rates for advertising across platforms and pricing for individual and combinations of platforms. Marketing offers and campaigns can be more accurately targeted. The value of the customer to the company can grow, even if they lose interest in certain delivery platforms, content, or other offerings over time. We find a big challenge has always been to get that consolidated view across all data sources (financial, social media, data aggregators like Nielsen, supply chain, media servers etc. The inbuilt connectors available with QlikView and Qlik Sense for example make it easy to draw data from these multiple data sources. Having this type of consolidated view is what has allowed Fairfax for example to quickly be able to optimise their digital assets and sponsorship placements on the fly.
Revenue Growth Through Better Targeting
We work with many of Australia’s leading TV networks to help them improve targeting and revenue growth. To achieve this, media companies need to understand customers better, how they consume content and services, and what advertisements attract follow-on activities. Media and entertainment companies can better establish the value of their brands and offerings leading to increased revenue from advertisers. They can also offer services and subscriptions to a potentially valuable customer database for the advertisers to mine themselves.
Using Analytics To Predict Bankable Assets
Qlik analytics can be used to predict whether current trends will continue and any possible implications or opportunities. In media, value comes from understanding and predicting the content (movies, video, music, books and games) audiences want. Data and analytics firepower can increase a media company’s odds of getting it right.
Self-Serve Analytics To Drive Operational Efficiency
By providing self-serve analytics as a differentiator, media companies provide access to relevant information to everyone who needs it from the sophisticated needs of the pricing and insights teams to client information, discounts and placements for the sales rep, to be competitive. If not, media companies will increasingly find themselves outpaced by the better-informed, quicker business moves of those that excel in analytics.
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Using Analytics To Prepare For The Sink Or Swim Future Of Australian Media
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Seeing Is Achieving
The best way to learn about how we can assist you in improving your analytics and reporting is to see our solutions in action. Contact us to book a personalised session with our consulting team.