nalytique, a business analytics contest, aims at testing skills to analyze large data sets keeping business context in mind. The problem will be from one or more than one domain of business – Marketing, Strategy, Supply Chain and Finance etc. Today, companies are looking to take advantage of big data to find hidden pattern in their large pile of data. This competition tries to give contestants a chance to experience power of data through a real life problem.
Round 1: It will be a case study addressing a unique problem faced by an organization. A large data set will be given along with problem. The contestants will have to understand business situation and look for information in data, which can point them towards root cause of the problem or help them find a solution by taking advantage of patterns found from data. The teams would be expected to do in-depth analysis of data. The teams can use any statistical tool for their analysis. Case study will be sent to registered participants via email.
Round 2: Shortlisted teams will present their solution to a panel at IIT-Mumbai Campus.
Case Study: Entertainment Industry
ABC Media Inc. is the largest media & entertainment company across the globe having more than 17% market share. They are also the largest distributers of digital media & partner to all top Hollywood studios. Mr. Mark the new CEO of the organization decided to use analytics for optimizing their sales as well as to take informed decision in allocating marketing budget.
In order to achieve the objective he decided to outsource the job. Companies applied for the project is to demonstrate how close they are in predicting the revenue of old movies and some upcoming movies.
They are also asked to do a sentimental analytics on old reviews and predict audience opinion on upcoming movies based on collected reviews form trailers released on social media platform.
Factors they are asked to take into consideration are:
- 20 Point for Visualization and data preprocessing
- 50 Points for preparing algorithm & pattern interpretation
- 30 Points for final round presentation
- Based on analysis of the information available, quantify value of a cast or crew member’s contribution to revenue for any film or any other factors which contributes significantly on the success or failure of any movie.
- Based on analysis of the research data provided predict the opening weekend box office revenue & reviews of each film listed on cal.xls.
- Based on the above analysis, devise the Marketing and Advertising strategy of the Company in order to optimize its returns.