Data augmentation is the process when new data is created based on modifications of pre-existing data. Augmented data management is valued when more of this data needs to be added to training sets or times when businesses want to reduce overfitting.
However, digging for data is not an end in itself. It must be processed in order to gather the insights needed for the growth of any company or industry. Again, processing of the data paths takes a toll on the manual systems set up for their management. In the absence of proper augmented analytics, companies may lack the ability to digitally transform big data into smaller, usable datasets. This drives the need for augmented data management, which now plays a rather assertive role.
Gartner projects a 40% drop in manual data management. This is one of the main reasons why many companies are now in the Augmented Data Management path. Manual activities involving data management are automated using Machine Learning (ML) and Artificial Intelligence (AI). These tools promote digital transformation in media and entertainment companies that are now able to take on a wider range of projects.
Digital Transformation in Media: What is New?
Evidently, media and entertainment industries have undergone a wave of new developments in data management and analysis, aimed at increasing productivity and efficiency. The rapid growth of augmented data management has resulted in a number of use cases. These include:
- Monitoring and control: The increase in video content on the web makes the manual detection of anomalies overly ambiguous. This is why artificial intelligence detection tools are now being used to detect, as well as extract, the missing metadata. This improves the security and privacy of online users.
- Video translation and transcription: Artificial Intelligence has improved beyond the level of metadata and natural language processing. This enhancement enables the transcription and translation of video content. In other words, spoken audio can be translated into readable text using computer-driven automation.
- Content generation: Machine Learning and AI-based applications using facial and pattern recognition can be applied to aggregate content and data from multiple sources.
- Marketing and advertising: New age advertising has taken on a different look – towards Machine Learning and Artificial Intelligence. It gives entertainment companies exposure to wider and more segmented audiences. Most of these media and entertainment firms often take advantage of digital video advertisements. According to Statista, by 2023, digital advertising spending is estimated to increase by 23%, while other traditional methods are projected to take a downward spiral.
- Video Encoding and Suppressing: Organizations are starting to implement highly efficient automated approaches for better video encoding. Generated algorithms are also used to compress high-quality video content without impacting consistency.
Pluses of Digital Transformation in Media and Entertainment
Donald Feinberg, vice president at Gartner, said that the very complexity of digital disruption creates an unparalleled potential. The overwhelming amount of data with increasingly powerful cloud-enabled processing implies it is now feasible to have algorithms on a large scale so as to realize AI’s full potential.
The use of augmented data management has had some quantifiable impact on the way different industries operate. Some of the advantages of media and entertainment are outlined below.
Real-time Promotion and Feedback
Leveraging AI to capture the right audience gives media and entertainment companies a good return on their ad campaigns. This is made possible by Ad-Management solutions. Real-time readings are also one of the drivers of digital transformation in health care and medicine. Using a large amount of data available, audience perceptions and research can more data-driven.
Augmented data management not only helps with the processing of data but also offers larger data storage options. Such options act as a store of information that further improves relevant customer insights. The seamless connection between technology and the media strengthens the strategies employed by businesses.
Diverse Contact Channels
Digital transformation opens up new channels of communication between service providers and their end-customers. This interaction with audiences increases loyalty, which is reflected in the ROI.
Increased Speed and Accuracy
Speed and accuracy are two key performance metrics of augmented data management. The reduced human error is a contributing factor here. Altogether, the use of AI and machine learning results in a detailed and accurate analysis of the data.
Consistent technological development creates better opportunities for the media and entertainment industries to progress. When the right resources are paired with human intelligence, the possibilities are endless. Contact us to embrace the latest technological advancements in media and entertainment with FPT Software, a global leader in IT consulting.