Question

reflect on the data strategies Netflix uses for its business model. How is this important to today’s increasing competition in the online streaming sphere?

Answer 1

Netflix is a big streamer and has a huge advantage in the business due to its capabilities in the strategies:

1. Personalized Recommendations Netflix manages all of its data and puts it through a complex algorithm that personalizes each and every customer’s viewing suggestions.

2. Trends Netflix use their data on a macro level, figuring out what shows are trending and what people are doing and want to see as their routine of time pass.

3. Original Content Netflix streams the original content as powerhouse of the original content with shows such as Fuller House, House of Cards,Stranger Things and Orange Is the New Black driving a huge percentage of their overall views meter.

4. Marketing Netflix has the unique power to extend and capitalize its ability to bring the audience. for example they have created a unique advertisement on youtube ads.

5. Making Money Netflix is a business first and foremost,  Netflix’s algorithms save them a whopping “$1 billion a year in value from customer retention this shows how much they are focussed than others in making money with quality content.