Final answer:
Broadcasting companies face challenges such as competition from streaming services, declining viewership, and the need for targeted advertising. Analytics can help by providing insights into viewer preferences, predicting ratings, and enabling targeted advertising campaigns.
Step-by-step explanation:
The common challenges broadcasting companies are facing nowadays include competition from streaming services, declining viewership, and the need to provide targeted advertising to viewers. Analytics can help alleviate these challenges by providing insights into viewer preferences, predicting ratings, and enabling targeted advertising campaigns.
Competition from streaming services: Many viewers are now turning to streaming services for their entertainment needs, which has led to a decline in traditional broadcast viewership. Analytics can help broadcasting companies understand viewer preferences and create programming that appeals to their target audience.
Declining viewership: With the rise of on-demand content and alternative viewing platforms, traditional broadcast viewership has been declining. Analytics can help broadcasting companies identify trends and preferences among viewers, allowing them to create content that resonates with their target audience.
Targeted advertising: Advertisers expect more targeted and effective advertising campaigns to reach their desired audience. Analytics can provide valuable data on viewer demographics, interests, and behavior, allowing broadcasting companies to offer targeted advertising opportunities to advertisers.