An Intro to Analytics Tools for Video Streaming Business

After you have invested your resources and time in making a product, you naturally like to know what people think of it. You would also like to be wise enough to collect all the information you can about who is using it and how they are using it so you can make the product a lot better. 

The same thing applies to your IPTV streaming software. Now that you have finally invested resources and time into creating a quality live streaming platform, the natural progression is to start tracking some live streaming metrics, which will provide you insights into your overall level of success. 

Depending on the analysis of the data, you may notice opportunities you have not recently thought of, determine areas in need of improvement, or get confirmation that you are on the right track. 

Why is it important to do analytics for business?

 Suppose there are two IPTV platforms—Platform A and Platform B—each competing for its share of the widget market. Each of them depends on repeat business and customer satisfaction to flourish. Each has strict quality control measures in place. However, only Platform A captures and analyzes streaming data to help guarantee quality.

On top of that, only Platform A has sensors that monitor everything. Only Platform A has sensor data pass through in-memory analytics queries on the fly, helping the company detect and fix before those defects find their way to customers.

Thus, which of these two platforms is more likely to have a competitive edge? Those benefits of using analytics tools could help your IPTV solutions for business cut costs, remain competitive, and increase efficiency. 

On top of that, the data that derives from analytics software isn’t independent similarly that qualitative data often is. Forms of qualitative research are open to interruption, but the metrics used in streaming analytics are more black and white. That results in fewer discussions about the findings. 

That quant data is definitive, making it ideal for measuring the impact of change. Further, when a design solution to an issue is executed, then it could be measured by evaluating the changes in user behavior before and after the change was made. That makes it simpler to prove your point and present the value of your work. 

Importance of knowing the needs of your target audience and user experience 

Live video will account for seventeen percent of internet video traffic this 2022. Do that month, and that is a fifteen-fold growth since 2017. Obviously, companies are investing in ways to stream live video as the main element of their business. 

Relatedly, the more data decision-makers could access, the better the business results will be. That is why it’s important to use analytics. 

These days, over eighty-five percent of businesses utilize analytics. In particular, that data helps businesses to identify the efficacy of their streaming efforts. Apart from that benefit, streaming analytics can offer more details about your audience, target stream efforts, and contextualize budgeting and other important decisions. 

We understand that knowing your audience and the success of your IPTV platform is essential to you. That’s why we will share important streaming metrics you need to analyze and track. 

Device viewership 

Where is your audience watching? Nowadays, desktop computers are utilized less often for viewing live streams, while OTT and mobile devices are becoming more widespread. Understanding how your viewers are watching will help you understand what to focus on in your broadcast. 

Viewer engagement 

Does your audience engage with your content? Then that says a lot about the quality of your streams. It also indicates viewers tend to come back for more. Therefore, if you are running a social media feed with Facebook or Twitter along with your broadcast, you can track how often people chat, comment, or tweet a link to the content to their friends. 

Geographical breakdown of viewership 

Where are your viewers watching your stream from? That streaming metric is helpful in many ways. First, it could help you polish your monetization strategies, including refining your price point. If most of your viewers are local, you may like to increase the price to motivate people to watch online. Further, it can help with the advertising of your business. Businesses situated in the same geographical areas as your viewers will be more motivated to market on your stream. 

Unique visitors to your website

How long are people watching your streaming services? Is the average churn a 2-hour show or more than sixty minutes? Low streaming duration could suggest that the quality of the content needs some work or that you are not reaching the proper viewing audience.

That streaming metrics is also helpful for monetization purposes, particularly in advertising. Furthermore, advertisers will become more interested in putting ads if a good number of people are watching for a decent amount of time, as their advertising is sprinkled in from start to finish. 

Repeat traffic 

Are people returning to your stream to watch different shows? Or do you notice mostly once-and-done traffic? That streaming metrics will inform you if you are creating interesting content that makes people return for more.

Final Thoughts

Keep in mind that there is a huge amount of information in your analytics that will tell you how your users are engaging with your IPTV platform. That data alone is not enough to base your business decisions on, but it must help inform the focus of further user research. 

As a general rule, the better you know your audience or customer, the more efficient are your marketing efforts. Endless streams of customer data exist now, from real-time sentiment to on-site behavior and many more. 

Many businesses utilize batch analytics to evaluate such streams, but that can result in substantial delays in decision-making. The good thing about analytics in streaming is that it enables you to get customer data as many streams as you like without compromising time. 

The available information is analyzed in seconds to reach fast decisions. Catering to real-time customer behaviors will help you make more effective and relevant business decisions.

Also published here.