29 Jul How to make the most out of Big Data in the online video world
Big Data is a popular term nowadays but what exactly does it mean? This phrase refers to the growing amount of data in the world which arrives from an array of sources including sensors measuring the climate in a city, digital pictures and videos, or users posting information to social media sites.
With over 30 petabytes of user generated data stored, accessed and analysed and over 230 million tweets each day people are becoming more connected and providing more information about themselves. When a customer wants to watch their favourite TV show and the online stream is not working properly they tend to get irritated and unhappy. They may take to social media to complain about the bad experience they had, which affects the company’s image in the eyes of the public. This can be devastating for a company which is why businesses should respond to their customer’s queries fast and efficiently.
This big data boom is affecting the media industry as a whole and transforming the way it acts. With new technologies being developed, content providers can now understand at a granular level how their services are being used and how they are performing. More companies from the industry than ever before understand that they can harness all these insights to make smart business decisions using in depth and complete data.
More people around the world watch video content online on various streaming services. However, as many of us have experienced, we can become frustrated if the service doesn’t work properly, if it freezes or if it just buffers slowly. Content Distributors understand the importance of Quality of Service and how crucial it is that companies provide a good experience to reduce churn rate.
Video analytics platforms, such as YOUBORA Analytics, gives companiesdetailed feedback on the stream and helps them to improve it. YOUBORA informs you about your audience, the quality of your videos and user engagement allowing you to compare sets of data, such as play time vs. join time or play time vs. buffering. Further examples of data, which can be split by date, delivery or demographic information, consist of: Buffer ratio, Play failures, EBVS (Exit Before Video Starts) and Reports. It helps you understand who´s watching,where they´re watching, and when they´re watching and it provides you with real time information on areas of Quality of Experience such as RT analysis, monitoring and CDN load balancing which is done at a granular level so you can see each customer individually and adapt your service to their needs.
After collecting data NPAW have found some interesting statistics:
- User stickiness of QoS monitored services are 34% higher than non-monitored services.
- Users with buffer ratio lower than 1% have 2.3x more playtime and stay with your service longer.
- When buffer ratio goes beyond 2%, churn rate increases 30%
With simple analysis it´s immediately easier to learn more about your customers and change your behaviour to ensure they have a better experience. According to IBM 90% of the data in the world today has been created in the last two years alone, so how much more will be created in the future? Now is the time for companies to make use of Big Data, video streaming companies above all else, to ensure that their service reaches the customers in the right way. It’s time to take advantage of the data available and improve your service for your customers through gaining insight and visibility into your audience andoptimizing video delivery to enable flawless online audio-visual experiences.
Check out the video we made!