Ever wanted to be in to places at once? Monday and Tuesday I wished I could be in to conferences at once. Predictive analytics world was going on right next to the Conversion Conference I was attending and liveblogging.
Since I couldn't attend I'm researching their papers and presentations. Here is a cool conclusion page from one presentation that examined how Hollywood was using BI to predict what kinds of movies to produce. Seems like they did a lot of cool work to accurately predict what I could have told them, but cool none-the-less :).
Predictive Analytics World Agenda
Predicting Opening Week Box Office Performance
The following are the key insights that we found regarding prediction of whether a Hollywood
movie will breakeven in its opening week.
Both genre and distributors have an impact on a films ability to breakeven in the opening week
- Key genres drive revenue: Adventure, Drama and Horror
- Key distributors drive revenue: Paramount, Warner Brothers, DreamWorks, Miramax, 20thCentury Fox
- Type of content plays an important role in determining the success of a Hollywood movie in its first week of release
- Sexual content tend to be positively correlated with higher ROI (Appendix C)
- A summer release is a strong contributor to a film‟s success in breaking even within the opening week
- Screens and Budget are the most significant variables in predicting whether a film will break even in the opening week.
inclusion of other key variables like Marketing budget and channels and running on model on a
bigger database will definitely improve its accuracy.
Predicting Opening Week
Box Office Performance of
Analysis Summary, Insights & Methodology
Santosh P N