Real-Time Analytics: 10 Ways To Get It Right - InformationWeek
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8/20/2015
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Lisa Morgan
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Real-Time Analytics: 10 Ways To Get It Right

While real-time analytics is getting more affordable, it's still not right for everything. Here are 10 ways to get the most from real time, near real time, and batch use cases.
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Change A Business Model 

Interactive TV has to be more than gee-whiz cool. It has to drive ROI for advertisers and provide a compelling viewer experience. When advertisers buy TV spots, they've traditionally depended on metrics such as audience size, audience demographics, and show ratings, which are inadequate by today's standards. Today, advertisers want granular information about their audiences, and the ability to target their efforts more effectively. 
'Advertisers are demanding detailed audience data before they sign on the dotted line and commit millions to TV. That goes for Turner, Turner Sports, ESPN, ABC, NBC, Disney, and Univision,' said Gavin Douglas, a TV producer and CEO of TV participation company iPowow, in an interview. 
Advertisers have always wanted to know who watched the show during which their ads ran. To be relevant in today's media environment, they demand to know who is currently watching the show, so advertising can be adjusted dynamically to suit the audience. By 2017, programmatic advertising will push different ads to different people watching the same show on different TVs, laptops, or mobile devices. 
'At that point, real-time knowledge of the audience and real-time targeting is going to be a huge market,' Douglas said. 'The industry is hitting a stride because it's been forced to [do so] by the digital wave of knowing your audience and real-time interaction on a website with an audience vs. 'we don't care because this is how we make linear TV.'' 
Meanwhile, the content side is becoming increasingly interactive and socialized. For example, MTV recently ran a 12-hour 'Teen Wolf' marathon that engaged viewers with trivia questions, predictive gaming questions, prizes, and the opportunity to appear on the show. Approximately 160,000 viewers participated, many of whom connected through Facebook, Twitter, or an email account. 
'Apart from [long-form drama], every TV genre is expanding in its use of participation and engagement. Fox Sports, Turner Sports, and ESPN all want to engage their audiences, and everyone in the audience has an opinion about what happened. Sports is a no-brainer for audience engagement because that's where the passion lies,' said Douglas. 'For competition shows, like 'Project Runway,' everybody has an opinion about the characters in the story, so they want to get involved as well. When you gamify it by allowing [viewers] to win prizes and tickets to a premiere, it simply enhances the passion around that particular piece of content.' 
(Image: Dawnfu via Pixabay)

Change A Business Model

Interactive TV has to be more than gee-whiz cool. It has to drive ROI for advertisers and provide a compelling viewer experience. When advertisers buy TV spots, they've traditionally depended on metrics such as audience size, audience demographics, and show ratings, which are inadequate by today's standards. Today, advertisers want granular information about their audiences, and the ability to target their efforts more effectively.

"Advertisers are demanding detailed audience data before they sign on the dotted line and commit millions to TV. That goes for Turner, Turner Sports, ESPN, ABC, NBC, Disney, and Univision," said Gavin Douglas, a TV producer and CEO of TV participation company iPowow, in an interview.

Advertisers have always wanted to know who watched the show during which their ads ran. To be relevant in today's media environment, they demand to know who is currently watching the show, so advertising can be adjusted dynamically to suit the audience. By 2017, programmatic advertising will push different ads to different people watching the same show on different TVs, laptops, or mobile devices.

"At that point, real-time knowledge of the audience and real-time targeting is going to be a huge market," Douglas said. "The industry is hitting a stride because it's been forced to [do so] by the digital wave of knowing your audience and real-time interaction on a website with an audience vs. 'we don't care because this is how we make linear TV.'"

Meanwhile, the content side is becoming increasingly interactive and socialized. For example, MTV recently ran a 12-hour "Teen Wolf" marathon that engaged viewers with trivia questions, predictive gaming questions, prizes, and the opportunity to appear on the show. Approximately 160,000 viewers participated, many of whom connected through Facebook, Twitter, or an email account.

"Apart from [long-form drama], every TV genre is expanding in its use of participation and engagement. Fox Sports, Turner Sports, and ESPN all want to engage their audiences, and everyone in the audience has an opinion about what happened. Sports is a no-brainer for audience engagement because that's where the passion lies," said Douglas. "For competition shows, like 'Project Runway,' everybody has an opinion about the characters in the story, so they want to get involved as well. When you gamify it by allowing [viewers] to win prizes and tickets to a premiere, it simply enhances the passion around that particular piece of content."

(Image: Dawnfu via Pixabay)

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GinaA474
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GinaA474,
User Rank: Apprentice
9/3/2015 | 12:15:30 PM
Great examples of real use case scenarios
The customer experience example with iHeart radio really shows the power of analytics. 
shamika
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shamika,
User Rank: Ninja
8/27/2015 | 7:07:01 AM
Re: Real time analytics
"Online customers are notoriously impatient". Correct. I am one of them too. They expect the solution to be on their fingertips. In my opinion this is especially applicable for financial institutes.
shamika
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50%
shamika,
User Rank: Ninja
8/27/2015 | 6:57:53 AM
Real time analytics
I agree with the concept that bank uses. However as you said batch processing will take place towards the close of business which is a concern at the moment. I think there will be a solutions for this soon.  
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