The ability to analyse huge quantities of data and understand the demographics has changed the business world in a countless ways. Is allowed investment professionals to reach out to the wealthiest clients. It allowed new restaurant owners, target the most influential foodies around city, and the make launching a new business for less risk.
What many people do not realise is data analytics quickly changing the world of art and culture as well. The ability to analyse large quantities of data is changing the publishing industry, in a lot of ways, and affecting authors, readers, publishers, and marketers in equal measure.
The world of publishing is changing rapidly, and the result publishing revolution is just one example. From start a publishing houses and online Publishers, to the oldest and the most respected stalwarts, data analytics is changing the world, and industry experts need to be ready for it.
Data Analytics goes far beyond on data gathering. Data Analytics allows publishers to gather vast quantities of data, the real value lies in ability to organise data in meaningful ways. For industry professionals, data Revolution has changed the way books get published.
Last publishers quantified the performance of the books, others by looking at the number of books they have sold. While those books sales are obviously still important, modern publishers have far more sophisticated matrices for measuring success. Those model matrix are both sophisticated, and immediate, delay providing valuable feedback publishers can use in real time.
Publishers can, for example use analytics data to see the completion rate of books as there being read, call smallest speed at which book is completed, aur weather the volume is being recommended to others. These intermediate feedback metrics can be far more valuable than mere sales, former integrative of the books long term success.
Hot selling books that lies on a bedside table, or in a forgot drawer is unlikely to be an enduring success. While low selling volume, that plus price and lots of recommendation, could turn into super hit of the summer. Data Analytics has also made market segmentation more precisely and easier to quantify. Publishers can now Sort the reading based variety of factors, from Age to gender, two geographical location, to education level. This Precision can make marketing easier and farmer successful.
One of the most significant consequences of Data Analytics is a change in the traditional role, that it is editors have occupied thereof. Well publishing industry has long relied on human editors to sort profiles of manuscripts, and choose the most promising text, advances in Data Analytics as promised to read influence, or replace it all together with self awareness, and automated decision making. Wild human editors are not going away anytime soon, the publishing industry has slowly started, to rely it's new commodity sophisticated editing algorithms.
The algorithmic editors could be used to predict the future success of an unknown author, what is the most promising work from hundreds of submission, and whittle down the number of texts a busy editor needs to read. The publishing industry is changing rapidly, and Data Analytics Revolution is well underway. Still somewhat unclear, but it is an easy way to look at how advances in artificial intelligence, what are the publishing landscape, and create a new generation of editors and readers.
Thanks for reading!