Luminar: Leveraging Big Data Using Corporate Entreprenurship

Luminar: Leveraging Big Data Using Corporate Entrepreneurship

As a result of the headwinds from the shifting media industry, discussions have arisen on whether there are opportunities for leveraging big data in Luminar. This essay focuses on whether there are possibilities for the business to leverage its data both inside and outside of Entravision that the Luminar Insights president, Rios, could leverage. From the overview of the case presented, various opportunities make it possible for the business in question to leverage Big Data for its good and maximum advantage.  This paper supports the decisions for leveraging Big Data on either side whether inside or outside Entravision.

The managing executives at Entravision, a broadcasting company, majoring in the production of media content in the Spanish language, saw the great need to change their business model. They saw it important to come up with a more efficient business model, and they sought to innovate one. It is out of this idea that they came up with Luminar. Luminar is a big data insights groups that use nearly 2000 outside data points in the course of delivering customised, insights that are transaction based to marketers on the company’s Latino audience (Ferguson 1).  

There are great opportunities for leveraging big data due to various factors.  First of all, the media industry in the United States is considered to be the second among the largest media industries internationally. Therefore, leveraging Big Data is possible since the media industry in question has enough audience to consume the large amounts of data sets produced. Moreover, since the sector is estimated to grow at faster pace with estimates noting around 2.3% growth rate up to the year 2017, these values insinuate that the chances of leveraging big data are possible as the information producers will have enough audience to consume their services (Ferguson 3). There are also opportunities for leveraging this model as it will enable the company to be in a position of capturing information from outside Entravision, storing the information within the company, being in a position of managing it and lastly analysing the information both inside and outside of Entravision after Rios has leveraged Big Data. The industry is estimated to be around 255.1 billion dollar billion (Ferguson 4).  

Outside Extravision, Rios can leverage big data since this model does not only operate in structured data sets comprising of database tables. On the other hand, it works on data sets that are unstructured such as in social networks in online platforms, mobile phones,  video archives and even in chips and radio frequency identification among many other unstructured data originating from different sources. Moreover, the public and organisations have understood the importance of data and its value. Due to this, there is a great need for mining enough data, storing it, managing and analysing the data for the benefits of the society and the company operating with the data (Ferguson 6).  

Moreover, the fact that computing costs are dropping in nearly all parameters is a clear indication that there are significant chances for leveraging Big Data both inside and outside of Entravision. In addition to these, there are numerous ways in which the company can exploit this kind of data for their utmost advantage (Ferguson 12).  

In conclusion, U.S media growth projections have depicted that the c projections are growing at a good pace and thus favourable for leveraging big data. Regarding population, there is also evidence to showcase that the media industry is gaining more audience with time thus creating an opportunity for the need of Big Data. Lastly, the Entravision media has been making enough money for implementation and maintenance of this model; this is also proof that there are great chances for the company to leverage Big Data both inside and outside the business.

Works Cited

Ferguson, Renee Boucher. "Luminar Insights: A Strategic Use of Analytics." MIT Sloan Management Review 55.3 (2014): 1