Enterprise Video Analytics are More Important Than Ever
Data-driven decision-making is increasingly becoming the de-facto expectation throughout the enterprise, but the process to collect, analyze and produce key insights can be very challenging if you don’t have the right analytics tools in place. The good news is that businesses are taking a hard look at what it takes to make reporting and analytics easier for everyone in the organization. There are more tools now available that can help you analyze your video communications programs in-depth and from all sides, including network distribution and user experience metrics combined.
The Questions Are Getting Tougher
If you’re on a team that helps execute a coordinated Enterprise Video strategy – like Employee Communications, Event Production, IT Network or Marketing – my guess is that at some point you’ve been asked to justify the investment in your work.
If your company has been using video for a while, you may also have noticed that your executives and other stakeholders are asking harder questions to make sure they really understand how video is helping to improve communications and overall culture inside the organization. Knowing how many people attended a live all-hands event or watched a specific training video on-demand is just the beginning. The c-suite expects to review more than a single KPI to evaluate the short and long-term success of your video initiatives. They need to know:
- How effective was this year’s video all-hands broadcast compared to last year’s?
- How does mobile desktop viewing impact employee engagement?
- How does experience and engagement vary by business unit?
- What content is most engaging? How do we optimize engagement?
If you’re struggling to respond to such requests with clear data to back up your assertions, I know it’s not for lack of trying. In my work as a product development manager for Analytics platforms in the Enterprise Video space, the majority of people I talk to still have substantial challenges in gaining access to all the required user experience and network data surrounding their video programs to be able to quickly and reliably assess ROI.
Many continue to be stuck exporting data for analysis and then, usually in massive Excel sheets, perform tedious processes to make sense of it all and arrive at a perfect set of graphs and other visualizations to make it look pretty. This is neither sustainable nor scalable, and there are now tools that offer substantial efficiencies.
Enterprises Are Investing in Better Analytics Tools
Enterprises are starting to invest heavily in data engineering teams to unlock their data for internal analysts to mine and provide key insights back to those who guide the decision-making processes. Management teams no longer see data as a luxury, but as a critical component to running the business; this means more support and resources allocated to the tools that can make this happen.
There are now products that enable customers, without any data engineering or integration work, to ask and answer complex questions about their video strategy. These solutions remove the time-intensive work preparing the data for analysis thereby enabling stakeholders to focus on analyzing the data and deriving actionable insights. This becomes increasingly important as video usage matures within the organization.
These new analytics tools add great value by:
- Removing time and resources spent joining disparate data sets via Excel before the data can even be analyzed. This is a critical advantage because oftentimes once analysts are done manipulating Excel spreadsheets, the data has become out of date.
- Enabling iterative, continuous improvement thanks to faster, in-context access to information. Time-to-decision is paramount in today’s markets.
- Helping teams in charge of creating content better focus and answer the crucial question of, “What makes great content?”.
Enterprise Video Analysis – What’s Possible Now
Data teams are now starting to perform complex cohort analysis to determine live streaming and video on demand effectiveness by geography, platform, browser and business unit. When launching a major corporate video broadcast to all employees, for example, they are no longer looking for an arbitrary number of views. Instead, they are looking for engagement from specific groups and individuals. And if they don’t hit their target goals, they are able to dissect their data to determine what needs to change. Enterprise video strategies are looking more and more like web advertising with complex analysis identifying opportunities to optimize content for maximum exposure to target audiences.
What used to be binary performance metrics of “good” or “bad” has become a nuanced and highly sophisticated segmentation of the employee base and how to best engage. Just like sophisticated marketing companies, enterprise video teams are learning to hone their message, distribution and targeting based on these new sources of unlocked data and insights. It is now common for teams to perform analysis and build success metrics based on questions like these (as well as the questions listed above):
- How long are people watching by geography?
- How did a video posted on Portal A perform against Portal B?
- How did this new video perform against other videos in the series?
- How does engagement of a video vary by device and should we optimize for mobile, desktop or both?
This type of analysis and consequential decision-making is impossible without access to multiple data sources made available in a powerful analytics tool. Analysts, rather than being replaced with new technologies, are simply becoming more valuable to the organization. This new technology reduces the cost and barrier to adopting data-driven decision-making and, ultimately, allows you to arrive at more valuable insights faster than ever before.
Data-driven decision-making is becoming more important than ever inside organizations of all kinds and sizes, and employee communications and enterprise video teams take no exception. More businesses are realizing this and investing in the tools needed to empower analysts and set a standard for all decision makers to put the data front and center.
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