We have proven, through the engagements of several customers, that the model is working. And customers are coming back for more asking for more insights. - Franklin Rios
(PRWEB) April 24, 2013
There are 52 million Latinos in the United States with $1.5 trillion of purchasing power, and Luminar Insights have their fingers on the pulse.
Luminar President Franklin Rios Rios recently spoke with MIT Sloan Management Review (http://sloanreview.mit.edu/big-ideas/) about the process of analytics innovation that led to the development of Luminar Insights.
Entravision Communications Corporation, a Spanish-language media company, reaches about 96% of that U.S Latino audience through its numerous televisions and radio stations, and digital platforms. It uses that extraordinary reach to provide media solutions to marketers interested in tapping into the Latino consumer market.
Entravision's sweet spot is its ability to offer hyper-local and regional channel marketing - what Latinos in Los Angeles are interested in versus what Latinos in Yuma or Tampa are interested in. But to provide more efficient and deeper insights to marketers, Entravision executive Franklin Rios decided to utilize empirical and transactional data obtained through licensing agreements. The increased data coming into Entravision's traditional data environments caused bottle necks - in processing power, in latency and in response times. As a result, the company embarked on a "big data" infrastructure implementation that included new analytics tools, the cloud and Hadoop.
The addition of external data, coupled with the new platform and new algorithms, resulted in fine-grained behavioral insights. But the story doesn't end there. Entravision clients became interested in the new analytics results, outside of their implications for media buys. And with increased client demand for those insights, an analytics division was created. In effect, analytics transformed Entravision's business model.
Read more about analytics transforming business models at: http://luminarinsights.com/media-center/news/.