Optimize Your Streaming Business by Democratizing Data

Media companies are not just media companies anymore. Across the board, these organizations have transformed into direct-to-consumer businesses capable of collecting a vast wealth of data. As a result, business intelligence (BI) teams have become more important than ever. From marketing and advertising to social media to product, every team now relies on the work of the BI teams, who sort through the data and surface insights for the other departments.

Yes, BI teams have become integral to data-driven organizations. But is it possible that we’ve become too reliant on their work? Perhaps it’s time we consider how we can democratize data, so that other teams are not constantly reaching out to BI every time they need new insights. And BI teams are free to focus on more in-depth analysis and developmental projects.

Making key data sets more immediately available across teams can benefit any organization looking to expedite and optimize their systems. In turn, it will allow companies to utilize their BI resources more efficiently, accelerate action on various teams, and foster a culture of insights-driven decision-making.

Let’s take a look at how democratizing data can empower various teams at your media company.

How democratizing data can support marketing teams.

Easily-accessible data can provide a marketing team with immediate insights into how their promotions or social campaigns are performing. Such insights can help them nimbly optimize their strategy, making frequent updates without constantly requesting new data from the BI team. As a result, marketing teams can safeguard media spend, and ultimately acquire viewers and drive revenue.

How about social media teams?

Democratizing data can help social media teams create content in real-time. By giving these teams tools to gauge how social engagement correlates with tune-in for a live program, they can stay ahead of the curb by quickly identifying important trends and responding in the moment. Additionally, social media teams need to monitor negative conversations in real-time. With free and easily-accessible data, the team can intervene and quash the bad press before the chatter grows. Because social media is where many viewers first learn about new content to watch, social teams with the right data have a tremendous opportunity to reach the right people and the right time with the right messages.

How about product teams?

Product teams often want to monitor performance not only on an ongoing basis, but also targeted on the day of a release. Democratizing key data to product teams will allow them to A/B test changes to viewer experience throughout the day. This type of data can allow for quick adjustments if a stream is not operating as intended, minimizing customer dissatisfaction.

So, how can a BI team truly democratize data?

BI teams looking to make data more broadly accessible have a few options. For one, they can spend their time building and maintaining self-service tools for their various teams. Alternatively, they can exert their efforts testing other methods of sharing data in a way that is easy, user-friendly, and scalable.

Or, they can just turn to Conviva.

Our data is a unique input that provides insights into the viewer journey, content pathing, and even audience segmentation. With unlimited customer seats, Conviva makes it easy to provide a user interface to every team across your organization. While BI will be freed up to focus on the hard work of surfacing data, every other team will become more efficient and self-sufficient.

The truth is, when all teams gain access to key data and insights, a company is empowered to make better, data-driven decisions—faster.

Learn more about how Conviva can help you democratize your data today.