Michael Rosenbaum is CEO of Catalyst IT Services, which provides onshore software development services that use real-time collaboration and proprietary analytics to assemble optimized teams. Rosenbaum contributed this article to BusinessNewsDaily’s Expert Voices: Op-Ed & Insights.
From human resources and product development to customer service and sales and marketing, companies are increasingly looking to Big Data to identify patterns and make predictions that can help lead to breakthrough innovations. It’s a trend that spans a diverse range of industries.
Take Netflix’s bet on “House of Cards,” which is the most streamed piece of content in the United States and 40 other countries. Before production, using Big Data, Netflix already knew that the odds of a blockbuster in original programming were pretty good. The company was able to analyze and use predictive data gathered from 30 million “plays” a day, 4 million subscriber ratings and 3 million searches. In addition, Netflix leveraged insight from the time of day when shows were watched and what devices were being used, and also found that viewers who loved the original BBC version of the show also tended to watch movies starring Kevin Spacey or directed by David Fincher. [What is Big Data? ]