Nt1310 Unit 3 Assignment

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Assignment 1: Data Analytics Report – Spotify.

A. Introduction This report delves into the workings of Spotify’s use of data to unveil insights crucial for strategic decision-making. By analyzing Spotify's use of their vast pool of data, the report aims to uncover patterns, challenges, and opportunities within the music streaming industry. The scope of this report attempts to provide a comprehensive understanding of Spotify's data-driven approach, elucidating its strategies for growth in an ever-evolving market landscape.

B. Company Overview Spotify is a digital music streaming service that gives its user access to songs, videos, and podcasts. Spotify operates within the digital streaming industry, being one of the leading platforms for music …show more content…
Analytics Capabilities Spotify uses various methods including descriptive analytics, predictive analytics, and prescriptive analytics. Descriptive analytics is employed in order to analyze trends, behaviors and patterns of each user, this is helpful for finding out which content is currently relevant to the user. Predictive analytics, on the other hand, are used to forecast future trends and outcomes—helping Spotify to anticipate user preferences, predict content marketability and gauge the usefulness of personalized content recommendations for its users. Lastly, prescriptive analytics is utilized to supply tailored content for its users, including optimization of content recommendations, playlist curations, and or marketing campaigns based on the user’s preferences. On Spotify’s website, it can be observed that Spotify utilizes different ways to derive their data. For instance, dashboards are provided to provide insight into different factors such as user engagement, content performance, and growth. Reports are also regularly shared, with analysis of business and market performance. Data visualization techniques are also employed by Spotify, an example of this would be Spotify’s yearly Wrapped playlist wherein users can view charts and interactive visualizations of the content they listened to that
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