Enterprise CIO Forum: Cognizant’s Head of Global Markets for Information, Media and Entertainment Says M&E Companies Must Recognize the Power of SMAC Technologies to Stay Relevant

“With rapid technology evolution, data democratization, and emergence of new content formats and devices, the media and entertainment (M&E) industry is already re-examining how it operates,” writes Nirav Patel. “Interestingly, no other industry embodies the digital shift as much as the M&E industry.”

Patel writes that M&E companies need to evolve their core competency of content creation to the new digital supply chain, while also harnessing the power of new technologies to directly engage consumers. “Creating the greatest disruption—and opportunity—are the SMAC (social media, mobility, analytics and cloud) technology architectures,” he writes. “They have made the long prognosticated concept of anytime, anywhere, on any device (“ATAWAD”) a reality and a fundamental consumer expectation.”

According to Patel, M&E companies today have to establish direct-to-consumer relationships and anticipate their behaviors. “It requires gathering vast amounts of data—proprietary, syndicated, and social—and using analytics to derive meaningful consumer insights,” he writes, adding that there still remains a lot of opportunity to deepen consumer confidence and relationships.

Patel notes that the pace of innovation is presenting great challenges for industry executives guiding their companies through the digitization shift. “Changing business models are forcing companies to invest heavily in digital technologies to create new consumer experiences that replace fading, legacy revenue streams. More change is inevitable and companies need to have flexible operating models to adjust as the market continues to evolve,” he writes. “By recognizing the power of SMAC technologies in addressing consumer needs, M&E companies can gain competitive advantage and stay relevant in a world where today’s market leaders can easily become tomorrow’s historical footnotes.”

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