Data Alone Can’t Stop Churn
There are 200 million OTT subscribers in the U.S., a number that’s rising as content owners launch new streaming services and partnerships. The billions of data points they produce every day tell an illuminating story about consumer behavior.
OTT providers are eager to tap into that data to get ahead of churn, but traditional data analysis and business intelligence are no match for the volume of data or depth of insight to be gleaned from it. It’s a task media executives should be looking to enterprise AI to accomplish. Only by analyzing the rich stream of real-time behavioral, transactional, and even technographic data as a whole can organizations truly understand their customers. Without the scale and power of AI, insight will remain forever outdated and incomplete as the amount of data exceeds organizational capacity to analyze it.
The first companies to operationalize AI will capture the greatest competitive advantage. In the next few years, AI will be considered table stakes. Those slowest to adopt will be busy paying off the “intelligence debt” they’ve incurred as competitors perfect machine learning algorithms and refine data-driven retention strategies. In my recent article for Media Play News, I present recommendations for organizations seeking to address churn with enterprise AI—a decision that should be made today.