Analytics are used increasingly throughout the Entertainment and Media (E&M) industry. This paper presents a proposed structure for a successful analytics project and focuses on simulation modeling.
Analytics are used increasingly throughout the Entertainment and Media (E&M) industry. In fact, companies that have extensively implemented analytics have used it as a differentiator and are three times as likely to outperform their competitors.
This publication briefly explores the range of analytical techniques available today, presents a proposed structure for a successful analytics project, and focuses on simulation modeling as an effective tool to address E&M macro strategic decisions. The paper provides two case study examples:
Simulation modeling provides a powerful tool for representing the non-linear, dynamic relationships that are fundamental to the industry and not captured by traditional approaches. Leveraging simulation in the entertainment sector can be a differentiator as it more realistically adapts to change and captures the complexity of the industry to better inform decision making and reduce risk.