OTT technologies enable measurement of an individual’s digital footprints, collecting data from TVs, smartphones and other connected devices.
As the number of connected devices per household continues to rise, data loads may reach an estimated 5TB per million households, per month. Extracting valuable information from this data requires a sophisticated analytics service.
VO’s Business Analytics utilize Big Data to provide insights that enable you to optimize your product and marketing strategies. The interactive dashboards reveal trends in your OTT TV revenue, content, services, devices, users’ content interests and more. This data is integral to making the correct strategic and tactical decisions that can increase TV services consumption and revenues, and assist with content acquisition negotiations.
We thought it worthwhile to go through the various options and metrics available in VO’s TV Business Analytics so that you can understand the power of data analytics to transform your business.
The Revenue Dashboard
Discover how your services, subscriptions, content, content usage, users, their interests and devices impact your TV and OTT revenues over time. This is the area where broadcasters can analyze the financial aspects of their operation, and is perhaps the area which is going to feel most familiar. A large number of charts and KPI analysis is available that, for instance, details revenue over specific and comparable time periods or details the exact number of transactional orders.
These figures have, of course, been available to operators before. But what is notable here is how easily they can be accessed and that they provide realtime data. Launch a new service, add new content, and see the influence on the revenue figures immediately.
The Content Usage Dashboard
The performance of content has always been a key factor in any broadcast operation, but with the current proliferation of testing consumer loyalty, making sure that your content works at peak efficiency is more important than ever.
Happily, cloud-based television as a service solutions are ideally positioned to do that, analyzing content performance in minute detail and providing operators with the power to understand exactly who is watching, when and on what. It is capable of exquisitely fine detail, and makes the old panel-based audience measurement indicators feel astonishingly archaic.
With VO Analytics, easily gain insight into the sources of content discovery and triggers that encourage conversion. Detect how a single recommendation can turn into multiple engagement actions, based on the cumulative effect of personalized suggestions. This provides a powerful window into your content library, as to what content is working and what content it is perhaps time to retire.
The Search and Subscriptions Dashboards
Tap into your viewers’ interests across all devices, by analyzing the terms for which they are searching and uncover any gaps in your content offering. Spot monetization opportunities for new products and offerings.
This dashboard helps operators understand the success of the various subscription services and bundles they offer, the revenue and order quantities over time, and the contribution made by each service. Given the sometimes black art of creating channel packages that will be popular with a given viewership and trying to maximize revenue from various different combinations, this is an invaluable tool that helps uncover what programming genres resonate best with an audience. And, as with all the other data available, particularly when cross-referenced with other datasets, it provides deep insight into existing consumer behavior and the likely outcome of strategic decisions.
The Future of Big Data and TV Operations
We are continually refining and improving the information that data analytics can provide to operators, enabling them to drill down into the ways that consumers consume content – all from a single screen. And as Big Data algorithms become more sophisticated, we will be able to predict consumer behaviors to an ever more reliable degree.