Netflix, a leading subscription-based streaming service, is one example of big data. It allows subscribers to watch TV shows, movies, and documentaries.
Volume – size of data
According to Statista.com, Netflix had around 238.39 million paid subscribers worldwide as of the second quarter of 2023. This marked an increase of 5.89 million subscribers compared with the previous quarter.
Velocity – how quickly data is generated and how quickly that data moves
Netflix uses data processing software and traditional business intelligence tools such as Hadoop and Teradata, as well as its own open-source solutions such as Lipstick and Genie, to gather, store, and process massive amounts of information. These platforms influence its decisions on what content to create and promote to viewers.
Gabrielle Sadeh. How Netflix uses big data to create content and enhance user experience. 2019. Available from https://www.clickz.com/how-netflix-uses-big-data-content/228201/
Variety – diversity of data types
Some of the variety of information can be seen. In particular, the following types of information are held:
– Browsing activities: sites, movie visited, downloads, searches
– Financial transactions
– Interests etc.
Big data can be used to improve operations of Netflix, provide better customer service, and create personalized marketing campaigns — all of which increase value. The technology can be utilized to monitor customer behavior at both a micro and macro level which makes the experiences more convenient and enjoyable. A series of algorithms are applied based on the subscriber’s viewing preferences, Netflix is able to predict what we are likely to watch next.