Amazon has thrived by adopting an “everything under one roof” model. Netflix has grown to be the top digital streaming platform, with over 193 million subscribers worldwide. American Express uses data to predict and analyze consumer behaviour. Starbucks can open many branches in a particular area and not have their business suffer, do you know how? They assess and determine the potential success of each new location and the consumer behaviour, thereby accurately estimating the success rate.
How Amazon and Netflix use data to pick and personalize content.
Netflix and Amazon’s growth is largely due to its ability to personalize content recommendations for users all across the globe. They collect data and use algorithms to curate a personal experience for each user.
Amazon gathers information that customers voluntarily provide like name, address, payment method, and more. They also assess details like how much time we have spent on each page, what we want, and things that are in the wish list. Amazon build data to tune its recommendation based system (RBS) engine. The more they know about you, the better they are able to predict your needs. For example, they recommend various products to you instead of you making an effort to search through the categories.
Through data, Amazon has eradicated the most common problem of shipping and delivery of products. They have reached the position where they predict who will order what and when. Hence, they are able to increase prime experience of online shopping. Now you know the reason how Amazon deliver products faster.
Netflix collects data automatically using the below information:
- The platform used to watch Netflix
- IP address
- Watch history
- Search queries
- Time spent watching a show
- Interaction with customer service
- Demographic Data
- Interest-based data
- Internet browsing behaviour
Once data is collected, it is then the time to evaluate and put it into action, figuring out how to solve the problems, which is challenging. Netflix team uses various tools & techniques to gain insight, and provide the best service. For instance, Netflix tested a new low-cost subscription plan in India, which incorporates a plan of 199 INR ($ 2.70) for mobile users. After testing it for months, they are now expanding nearly a dozen markets including Malaysia. And last year, Netflix said it had earmarked $420 million for producing and licensing content in India by the end of 2020.
Let’s now discuss about what data analysis has in store for you, and how you can pursue it as a career.
They clean and organize scientific data collected for the project with the help of programming language like SAS, Python, My SQL, Tableau, and more.
- Develop and improve software systems.
- Test the operation of software systems.
- Assist engineers in solving computing problems.
- Analyze and publish findings.
They build prototypes, algorithms, and conceptual models according to blueprint designed by the data architects.
- Create reports, dashboards, and tools for users.
- Develop technical solutions to improve data usage and data access.
- Translate computer algorithms into prototype code.
- Aggregate and analyze data sets to provide action.
Database Administrator, ensure that the database is secure and is available to all users. The administrator uses special software to store and organize the data. The starting salary of a Data Administrator in India is 70-80,000 INR per month.
Data Analytics is for you
Securing a career in data analytics is a great option. Graduate in B.Sc IT, Computer Science, Maths, Physics, or any other related field and earn a master’s degree in data analytics or related field. Post Graduating with MBA and business analytics as a specialist will provide you exciting opportunities to work for successful companies such as Amazon, Netflix, KPMG, Facebook, Instagram, Make My trip, Barclays, HSBC, Twitter, Kotak Mahindra, ZS Associates, Walmart and more. And this career pays exceptionally well.