The Influence of Analytics, Germin8 way - Ranjit Nair interviewed by the Pickle Magazine

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Information about The Influence of Analytics, Germin8 way - Ranjit Nair interviewed by the...

Published on March 11, 2014

Author: germin8



Ranjit Nair speaks on the impact of Big Data analytics in the Media and Entertainment Sector and how the industry can benefit from engaging with Germin8

www.picklemag.in18 pickle entertainment biz guide LIKE PICKLE IN FACEBOOK MAPPING SOCIAL MEDIA CONVERSATIONS Tell us about the patent that you got in 2005 and how effectively it is being put to use today? After my PhD, while I was working at Honeywell Labs, I worked on algorithms to help teams of autonomous agents come up with good ways of jointly per- forming tasks together. Most of the ex- isting work in that area was too slow to deploy in real life situations. My patent related to exploiting the structure within teams of agents to enable them to come up with decent ways of working together in a relatively short time. The expected uses of this were in search and rescue op- erations, military scenarios with autono- mous bots, and in video games where you compete against a swarm. At Germin8, we are not using the work done under this patent in any way. We are in the era of Analytics 3.0. Do you see visible signs of Big Data analytics bringing transformation in companies? More and more, we are seeing companies using Big Data analytics across their entire organisation. The use cases vary based on the department and industry but they are becoming more and more com- mon. For instance, Big Data analytics is getting used by R&D teams to develop new products, by Marketing teams to plan and evaluate new products and campaigns, by Public Relations teams to identify poten- tial crisis and monitor their mitigation, by Sales teams to identify leads, by Cus- tomer Care to catch customer complaints and queries early for faster resolution, by Customer Loyalty to understand how to retain customers and how to reward valuable customers, by Risk teams to de- tect fraud and non-compliance, etc. Every week we at Germin8, see new innovative uses of Big Data and the good news is that the use cases are coming from customers and not just from us. What are the insights that a media and entertainment company benefit from Explic8? A media company would use Explic8 to listen to what their audience is saying online in Social Media. These could be conversations the audience is having directly with the company on their own social media channels or among them- selves. The company could then leverage these conversations to understand what new content their audience wants, what

www.picklemag.in19 pickle entertainment biz guide LIKE PICKLE IN FACEBOOK THE INFLUENCE OF ANALYTICS, GERMIN8 WAY Pickle chats with Ranjit Nair, CEO, Germin8 on the impact of Big Data analytics in the Media and Entertainment Sector and how the industry can benefit from engaging with Germin8 they think about the existing content, campaigns and competitors. This leads to actions like improving content and the marketing of this content. What is the difference between com- panies who use data analytics and who don’t? Analytics is only useful if it is actionable and the organisation is geared to react to the analytics. By inference, an organi- sation that uses analytics is one that is open to what their consumers are saying and nimble enough to react to it. So off the bat, they are already at an advantage over organisations that are closed to us- ing analytics. The analytics itself gives the companies using them a huge advan- tage because their products and commu- nications are more optimised and hence would perform better. You have some of the top advertis- ing agencies as clients. How do they make use of services provided from your end? Our advertising agency clients use Ex- plic8 in many creative ways. Depend- ing on what they are contracted to do it could be to provide insights on how they can improve their product or service of- fering, insights on what would work on campaigns, insights for communication strategies, insights for rebranding strat- egies, providing online reputation man- agement services, identifying promoters, detractors and key influencers, etc. That’s just the tip of the ice berg. Agencies are getting smarter on using Explic8 to de- liver more and more actionable insights to their customers that can transform the company’s image and communication. Tell specifically, how does a broad- caster benefit from using analytics? What are the various insights that a broadcaster get about a programme from the social media interactions? For a broadcaster, it starts with what content they should air. For a news show, this could mean content based on under- standing what people feel about different current affairs topics like the upcoming General Elections, for a reality show it could mean more air time for contestants who are most talked about in social me- dia, and for a soap, it could mean getting ideas relating to their plot and cast. Next, such analytics can help the broad- caster decide on how to promote their

www.picklemag.in20 pickle entertainment biz guide LIKE PICKLE IN FACEBOOK show and to understand whether their campaigns are effective or not. For in- stance, if the audience seems to like par- ticular aspects of the show, these can be highlighted in future promos. Analytics will also help the broadcaster understand whether the viewing audi- ence likes the content that is being aired. Analytics from social media can help broadcasters and advertisers understand how shows are faring, including qualita- tive aspects like what about the show the audience segments liked and disliked. It is said that Big Data can also be used to understand whether a movie or a TV se- ries will be a hit before shooting it. Your comments. Analytics based on the online reactions to promotions are a very good indicator of how well the movie or TV series is like- ly to perform. This is much like having a test audience for a movie. You get a sense of the expectations and impressions that have been built up, and can take various decisions like revising the promotions, changing the marketing communication, editing the show or movie, changing the distributions. You can also understand whether the online advertising is reaching enough people and whether they have been en- gaged. This again allows the studio or broadcaster to take corrective actions if needed. So, analytics is not just a predictive tool to determine success or failure of a re- lease. Way before the show or movie is released, analytics can help provide in- sights on how to make it a success. Netflix bought “House of Cards” based on thorough data analysis of their 33 million users. Will this become a practice over a period of time? Netflix has always been among the van- guard when it comes to analytics for content recommendations. It is not a sur- prise that they would extend this to the selection of new shows. I think this will certainly become more and more com- mon but a lot will depend on how much companies are willing to spend on data scientists and technology for such ana- lytics. How can the film industry benefit from this? A film producer or theatre chain could use predictions on box office response to decide on what the rights are worth and what the distribution plan should be. For instance, should it be a limited release or a wide release, should I buy rights for some states or all, etc.? What according to you is the biggest influence of the medium to the media and entertainment sector? The biggest influence of social media to the media and entertainment is definite- ly the reach that it affords to get the word out about the show or movie, or in the case of content that are available online to actually bring viewers to where the content is available. Analytics will play a role in evaluating whether the marketing is working, whether the content is work- ing and what new content could poten- tially work. Can this help in decision making? Very often we have to rely on our gut to make a decision because of the absence of data or the amount of time and mon- ey conducting a survey would take. Use of Big Data analytics will eliminate the need of just going with your gut because now you will have access to analytics without slowing down your decision making process significantly. This won’t however replace human intuition and ex- perience, which will still be necessary to interpret the analysis and decide on the best course of action based on the inter- pretation of the analysis. How credible is the data crunched? The data can be highly credible if done right because the views are largely un- solicited and the volume of data can be huge leading to high statistical signifi- cance. The biggest threat to the credibil- ity of data is whether the audience being measured matches the audience for the show. This threat stems from three con- cerns, 1. There is a bias towards certain de- mographic segments in the audience measured online, 2. There are fake users in social media Explic8 is Germin8’s product for actionable insights for product, marketing and sales teams across sectors based on what consumers write in social media

www.picklemag.in21 pickle entertainment biz guide LIKE PICKLE IN FACEBOOK indulging in fake conversations, 3. The things people say in social media have a strong negative bias. All 3 are valid concerns that can be ad- dressed through proper scientific ap- proaches like stratified sampling, bias sampling and pruning of fake profiles. One must remember that traditional sur- veys also sometimes suffer from similar data credibility concerns like incorrect sample selection, interviewer bias and fake respondents. Does data crunching and “influenc- ing” help in monetization? It helps both directly and indirectly. Di- rectly because it can lead to ways of op- timising the distribution of content and indirectly because it can result in im- proved content and improved marketing leading to higher viewership. Where are we heading? In the coming days, we will see increased internet penetration and an increasing willingness for people across segments and geographies to share their opinions. This will result in a huge increase in the volume of content for analysis and in the number of regional languages that these conversations will be in. This will mean even greater applicabil- ity of the data analytics but it will also mean that tools need to be able to support regional languages and handle this in- crease in conversations. With this, social media listening and ana- lytics will then be highly applicable to re- gional content and GEC channels. ❑ We set up an Explic8 tracker to crawl and analyse conversations around the show Satyamev Jayate Season 2 starting from Mar 2, the launch date from across social media sites. ❑ Conversations around Satyamev Jayate have largely been on 2 platforms – ❑ Twitter – 69.13% ❑ Social networks – FB, G+ - 28.4% ❑ Men contributed to 66% of online conver- sations related to Satyamev Jayate, which is close to the average we see across sec- tors. However, given the topic of the first episode that aired on March 2nd, one would have expected a higher participa- tion from the female audience. ❑ Social Media – Twitter and FB are fast be- coming the second screen for channels, 64.4% mentions came between 11am -2 pm, i.e. during the show time of 11 am to 1 pm. Social media buzz distribution on broadcast day ❑ Broadcast day saw 61.4% of all conversa- tions during the week. The key takeaway from this graph for a channel can be how to ensure that they keep the audience en- gaged even after the show. Also, this can be used to analyse the pre-show buzz about the episode Weekly buzz distribution ❑ Sentiments – The sentiments about the show are mostly neutral and the conver- sations seemed to agree with the show. A few negative comments about Aamir Khan charging too much and faking his emotions were a minor proportion of the overall conversations. Indicative sentiment distribution based on sample data ❑ Top topics – rape, fighting rape, police apathy, justice, change etc. Social Media Conversations of Satyamev Jayate Season 2

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