Big Data on the move: Time for Bollywood to act upon!
While I was hovering over the internet with no purpose whatsoever as I usually do, I stumbled upon an article about how Big Data can change the success rates of Hollywood flicks. It seemed like quite an interesting avenue for making money to me (just incase you are wondering, I’m a Business Major, Masters). Going by the article I felt our latka-jhatka industry which releases around 900 jhatkas (movies) a year at an average and entertains 3 billion audiences and more worldwide. Anyone with half a brain realizes that there lies a plethora of opportunity for directors and advertisers to sell more and more.
Leveraging Big Data
Big Data has been used quite effectively by various industries like Retail, Digital and Telecom; and considering the gains with targeted and focused approach, it isn’t such a bad idea to use this in our latka-jhatka Bollywood too. It has the potential to really shake up the way marketing and advertising has been approached all along in our country.
Big Data can actually work as a bridge between the producers and viewers where data analysts and advertisers can reap greater benefits. Just imagine Sanjeev Kapoor walking up to you and serving a recipe for success. What more does a director/producer (with an aim to commercially succeed) want?
From consumer behavior to script making to the insights from demographic and geographical aspects, just like Hollywood, Bollywood too can tailor their service (I would call it a service, considering the whole experience of watching a movie is vital and sacrosanct in some regards) and cast actors and actresses according to the demands of the viewer; maybe that is asking for a bit too much but its true, customer is the King.
More accessible options, more data
We are tech-savvy now. We’ve got options… phones, internet; mobile phones and web technology have have made everything accessible, eliminating the risks of no tickets, saving time and getting the seats of our liking. OUR CHOICE!
These devices can be of greater value to marketers and advertisers; with the help of data based on demographics, behavioral characteristics, geographical location and other key insights, they can actually pinpoint and laser paint the target. A focused approach with quantifiable take-aways which wasn’t available earlier and this approach can be of great value as the script writers will know what clicks, what works and what does not. With each passing moment more and more platforms are explored, and new methods adopted and perfected and data is produced and collected at an exponential rate. What remains to be figured is what we do with all the collected data.
Another avenue for advertisers
The data collected and exploited will help advertisers chip-in their advertisements at the just the right time at the right place. Interval time is the most boring one (if you talk about advertisements). Advertising restaurants and eating joints in the interval where you get to see different cuisines options at nearest locations might actually work for restaurants owners, theatre hall owners and customers alike with one caveat in todays world it has to be targeted advertising not just generic advertising.
India has got tremendous potential in regional markets and data can actually reap wonders for these small budget regional movies. By understanding the people, what they want, whom they want, when they want, the movie makers can actually plan for box-office hits. Hollywood has been going that way with a company doing exclusive research for script writers and producers for sometime and i think its time we do the same too.
Creativity on the peril
Sure, it will benefit the commercial success hungry producers, but does that mean – it will kill creativity. In fact many directors won’t agree on this. The only way to gauge if the movie is good, would turn it into an exercise as to who can mould data more effectively. Movies like “Gangs of Wasseypur” and “Dev D” are like the real, genuine creative work. Anurag Kashyap didn’t do any research instead went by his love for cinema, his instinct and his knowledge. But directors like Karan Johar and Rohit Shetty who make films to enter into 100-crore club, would agree on this for sure after all its all about earnings for them.
There are sets of people who would see this in two different ways. First, the ones who would undoubtedly go for Big Data and enter the 100-crore plus club. On the hand, would be those creative types who would not mess with creativity come what may or only be judged by the moolahs that their movie rakes in.
It’s tough to take a stand on a subject where per week earnings are the parameters by which a movie is judged. Which side are you on? To big data or no?