NextBigCommunity

In this decade, big data is one of the top emerging trends, strategically. With exploding big data there is a broad scope of big data and analytics market, which includes data analytics, data distribution, data management and data visualization. Estimates indicate that everyday 2.5 quintillion bytes of data are created and this data comes from everywhere: posts on online social platforms, digital pictures and videos, and weather data, to name a few. Individuals/Companies can either get buried by this avalanche of big data or they can use technology tools to mine its benefits.

Big data, when used efficiently, can provide opportunity to find new insights, emerging trends, and preferences/taste of consumers. The recent interest in sentiment analysis has been fueled mainly because of the rapid expansion of the online social media platforms (facebook, twitter, myspace, blogs etc.), both in size and scope. Wikipedia defines sentiment analysis as the application of natural language processing, computational linguistics, and text analytics to identify and extract subjective information in source materials. Online opinions (such as reviews, ratings, and recommendations) are increasingly used by businesses/brands to market their products, identify new opportunities and manage their reputations.

The value of global entertainment industry (in 2011) was estimated to be $2 trillion, with film entertainment spending predicted to be $103 billion. Every year thousands of films are released world over that are characterized by different languages, cultural attributes, religious sentiments, social issues and traditions. The theme these movies are based on the personal judgment of director/script writers (based on their research) and millions of dollars ride on these movies. However, the fate of these movies is decided by the viewers, only after they are released, and when millions of dollars have already been invested. The success rate in film entertainment industry is very low and there is an urgent need to improve this success rate for the rapid expansion of this industry.

Probably, big data applications can be employed by this industry to improve its present performance efficiency. Sentiment analysis, when used effectively, is one way that can leverage the power of big data and improve the success rate in this industry. Big data may still be a relatively new phenomenon, but its impact is already being felt throughout various industries. Organizations that can effectively store, manage and analyze this information may set themselves apart from their competitors or, even better, make key advancements in their particular fields.

The film entertainment industry can employ sentiment analysis to research and analyze the trending topics and revolve their scripts around those themes/topics. In addition, reaction of viewers towards a film can be precisely predicted based on the opinion/ recommendations/ reviews that are generated by the pre-released movie trailers. The post-production editing of the films can be adjusted based on these reviews. Similarly, the popularity of the popularity of the music and background scores associated with the movies can be estimated prior to the movie release. Sentiment analysis when used appropriately can sure improve the chances of a movie turning a box-office success. The latest buzzword, crowd sourcing, can be judiciously used to generate movie scripts, decide about the star cast, and other aspects associated with a movie. Big data is the next big thing and industries are leveraging its power to improve their decision making. It is the right time for the film entertainment industry to leverage the power of big data and experience unprecedented overall growth.