Grow media company revenue with data, AI
The 8th Big Data & AI for Media Conference, organised and hosted by World Newsmedia Network in association with FIPP, takes place on 1-2 November at Microsoft’s headquarters in London.
***Get 30% discount on conference tickets with code BIGDATALONDON30***
Confirmed speakers include data and revenue executives from BBC, CNN, Condé Nast, Mittmedia, Expressen, United Robots, Financial Times, Neue Zürcher Zeitung, Pangaea Alliance, Civil and Styria Media.
Now back to Robin.
How would you describe the skill makeup and scope of your data team?
MittMedia’s data team is organised around the different types of data used as the backbone of the digital organisation. This means that we have competences within the group to ensure that the team autonomously can work within the scope of collecting, processing and extracting user-, content-, interaction- and advertising data. To be able to do this we have devops, machine learning experts and data scientists working together.
What are the most important components of your data and AI strategy?
The most important component of Mittmedia’s data strategy is the demographic and behavioural modeling of our user base. To stay innovative we must understand what values the users find in our products, and why they chose to engage with us in the ways they do. Being able to simulate and predict user behaviour is a core part of data science processes with the purpose of driving business development.
How is audience data used to drive advertising and subscription revenue?
Audience data is deeply integrated into our products and processes. As an example: We use audience data to present a personalised selection of what stories to display to the users. In the same way, we also use audience data to build target groups for advertisers.
Of course, we use audience data to build insights that editors and product managers can use to make better content and better products.
If you were advising other data directors on how to build their operations, what key lessons would you impart?
Mittmedia’s key advice in regards to implementing a data platform is to formulate a few easy to follow data policies, and then stick to them throughout the development process. The most important part of building large data products is to keep the purpose front and center in all discussions.
How does audience data factor into product development and improvements at Mittmedia?
It’s something that is ever present in product development. As an example: When we are building new features in a product we almost always start with an experiment with the only purpose of gathering audience data in order to make a data-informed decision.
In your opinion, what does the future hold for the business use of data and artificial intelligence in media?
The editorial products that we see today are, with very few exceptions, built upon the same strategy as the printed newspapers. It’s the same selection for everyone. We haven’t really taken advantage of the possibilities of data. With the help of data, we can improve the content relevancy for our users.
Join us at the Data & AI Media Week events in autumn 2018. The 8th Week of events is in London and is themed Data- and AI-driven Revenue and Audience Development for Media. Get 30% discount on conference tickets with code BIGDATALONDON30.
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