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Netflix makes use of analytics to choose films

How Netflix makes use of analytics to choose films, develop content and make multimillion-dollar choices

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Netflix makes use of analytics to choose films

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  1. Netflix makes use of analytics to choose films, develop content, and make multimillion-dollar choices How Netflix makes use of analytics to choose films, develop content and make multimillion- dollar choices The Netflix Prize was announced in 2006 by NetflixNetflix purchase humor packages. It was a contest to develop an algorithm that would "substantially improve the accuracy of forecasts regarding the way someone will enjoy a film based on their preferences for movies." The winner was selected and the algorithm was upgraded by 10 percent. Netflix did not adopt the algorithm. "We tested a few of the new techniques offline however the additional precision we observed didn't appear to be enough to justify the effort needed to get them working in an industrial setting." Netflix did not shy away from the algorithm and data efforts.

  2. It could appear that Netflix's statistics only go to the number of views. It could be to be that House of Cards was selected because Netflix believed that its subscribers would enjoy it. However, the reality is more complex. The show's $100 million budget was not deemed a success simply because of its compelling story. The decision was made by a variety of factors and mostly on information. Netflix is a business that relies on data. It's a bit misleading to say that Netflix chooses new content based on "whoever they are able to obtain an agreement with". Netflix requires permission from studios, however they don't pick films and TV shows randomly.Netflix didn't ignore data and algorithm efforts. For those who aren't familiar it might appear that the analytics of Netflix only go to views. It might appear to be that House of Cards was selected because Netflix thought its subscribers would enjoy it. But the truth is much more nuanced. The show's $100 million budget was not approved simply because it had a compelling plot. The decision was by a variety of factors and almost entirely on information.

  3. Netflix is a data-driven business. It is very misleading to say that Netflix selects new content based upon "whoever they can get the license from". Netflix requires licenses from studios, however they don't pick films or television shows out of the blue.

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