News & Updates
November 21, 2016
The publishing industry is one of the most agile spheres worldwide. It has been evolving actively from the introduction of the printing press to the emergence of ebooks. There had always been one big factor that had caused the publishing evolution: the readers. The way they select, purchase and interact with books, their preferences and habits. However, some bits of the decision-making process has long stayed unchanged: the choice of what to be published, and what not. A fun fact about “Harry Potter”: the book has been put down 12 times before being published. Such decisions had been primarily taken based on the editor’s gut feeling. But how stable is that?Welcome to the data-driven predictions!
Data has literally overflown every industry: capturing and analysing it has been seen as a much more reliable way to understand readers’ wishes. Data in publishing empowers decision-makers to grasp the preferences of the audience and foresee potential future trends much better.
What do readers want?
Initially information has been gathered via focus groups and surveys. However, this “limited” approach could not get the desirable results at scale. Digital reading has changed the data aggregation pattern. The connected devices makes it possible for publishers to track readers’ behaviour on their daily commute, or during sleepless nights. It is now possible for publishers to understand whether somebody reads poetry for an hour every day! All this very specific information coming straight from the horse’s mouth can be analyzed!
Data as a Magic Ball
Data is advantageous to everyone involved in the publishing process. Authors get the opportunity to test their plots through forums and glean better understanding of the audiences’ interests. Readers enjoy a two-way communication with authors. They can give feedback, express their preferences and realise the power of their opinion. And of course publishers – they get real information that help them predict the next bestseller and the type of books that are currently the hype. They get to know the end-users through behavioural data.
Less risk, more power.