What are some examples of unstructured data that Spotify is probably using in their analysis? Spotify is also using its vast data and analytical prowess to both win back skeptical artistswho've left and also to attract new artists who are so important to the firm's future success.The company launched its Spotify for Artists app that gives artists access to data about theirfans, including which playlists create new fans for the artist and how many streams theartist's music is getting. The app also gives artists some control over their presence on theservice, with the ability to update bios, post playlists, and specify which track is the "artist'spick." And Spotify's Fans First program helps to identify the artist's most passionate fans,allowing the musicians to target them with special offers. In 2019, the company acquired themusic-production service SoundBetter, which allows record labels to promote new music tospecific Spotify listeners. Spotify expects this "two-sided marketplace" focused on tools andservices supporting artists and their representatives to grow by 50 percent in 2020.The usefulness of Spotify's vast data stretches well beyond listeners and fans. It alsocontains a treasure trove of marketing-relevant information that can help advertisers choosewhich users it most wants to reach. Spotify for Brands is a program that allows marketers ofall sorts of goods and services to laser-focus their ads, using insights gleaned from the datathat, according to its website, "reflect the real people behind the devices." Music is driven byconsumers' real or desired self-identities, a factor that many companies use in advertising.The data also help to determine optimal ad placement timing. Selling Gatorade? Playing anad at the end of a workout sounds good.Today, Spotify differentiates itself from its competitors by the deeper way that it viewscustomer data. But in its early days of using data analytics, the firm focused mostly onstandard fare, such as keeping track of online customers after they left its website (known asretargeting). Now Spotify has reimagined customers as not simply clicks or transactions, butrather as unique human beings with changing needs, wants, and preferences that influencetheir choices in music and in products. As such, Spotify's goal is to build lasting connectionswith its users and other stakeholders, understanding how people consume the music theyselect and then applying those insights to better serve its customers and support itsadvertising clients' goals. Marketing in Action Case Real Choices at SpotifyWhether it's firing us up for a workout or helping to mend a broken heart, music can play ameaningful role in our lives. Streaming music market leader Spotify understands this. Thecompany uses data analytics to connect us to music it thinks we'll love, and also to connectthe artists who create that music to their fans.Founded in Sweden in 2006, Spotify began as an alternative to other music downloadservices-both legal and illegal. The company shook up the music industry by offeringcustomers music from Spotify's vast library we pay for in one of two ways: with our time orwith our money. Subscribers can listen for free but be interrupted by ads, or they can pay asubscription fee for ad-free listening. The fee-based service adds other nice features like theability to choose tracks, unlimited track skipping, listening offline, and higher-quality audio.Music lovers have embraced Spotify's model, catapulting the firm to rise to a dominantposition in music streaming (2019 stats show a 35 percent market share compared to 19percent for Apple Music and 15 percent for Amazon Music).But music creators-the artists-generally have not been so enthusiastic. This is largely because Spotify makes deals withrecord labels; by the time the money trickles down to artists, the royalties can be prettysmall. This famously caused Taylor Swift to pull her music catalog from Spotify in 2014(although she later reversed herself).Spotify's active user count tops 286 million, with 130 million of those on its paid Premiumservice. And with all that downloading, track choosing, and skipping, the company collects alot of data, which it uses to understand and support customer preferences. A popular serviceis the company's Discover Weekly feature, which provides a personalized playlist eachweek. It serves up songs you haven't heard before, composed of tunes that Spotify'salgorithms believe you'll like-think of it as sort of a personalized mixtape (if you are tooyoung to know what a mixtape is, then you'll have to google it!). You can also create andname your own playlists, like one for romantic evenings at home and another for thatweekend barbecue bash in the backyard. Overall, one of the best value-adding elements ofSpotify is the sheer scope of the music available-all genres, virtually any artists, andmillions of songs, right on your desktop, tablet, or mobile device.

Answered: What are some examples of unstructured…

What are some examples of unstructured data that Spotify is probably using in their analysis?

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ