By now, media and entertainment executives know that data can provide a deeper understanding of subscriber churn rates, audience content preferences, revenue opportunities, and more. The most successful companies are doing more than just analyzing data. They’re also implementing systems that automate insight – work that, for most media and entertainment companies, has been bogged down by manual, time-consuming processes.
These antiquated data analysis processes are rooted in the need to manually standardize siloed data sources, an approach that inhibits quality of insight (QoI). There are multiple dimensions that impact an organization’s quality of insight.
- Speed: Real-time intelligence
- Frequency: Continuous output
- Objectivity: Free of human bias
- Depth: Sufficient data analysis
- Accuracy: Error-free conclusions
- Relevance: Answering the right questions
- Accessibility: Availability to all stakeholders
- Explainability: Clarity on how decisions are reached
- Actionability: Drives measurable change
Quality of insight has measurable enterprise value. By improving all aspects of QoI, organizations can achieve what Gartner describes as “continuous intelligence,” where “real-time analytics are integrated into business operations, processing current and historical data to prescribe actions in response to business moments and other events.” In other words, quality of insight is the ROI on your data.
Emerging technologies that automate data analysis enable organizations to maximize quality of insight at scale. As I outlined in my article for CEOWORLD Magazine, that’s a key capability for companies that want to remain relevant in today’s media and entertainment market.
