The music economy today is largely digital. Advanced analytics is essential for talent scouting, sales prediction, marketing attribution, and revenue assurance. And yet, BMG has no data lab, has no data research team, does not have millions earmarked for AI development.
BMG’s approach to making use of advanced analytics is different. We believe that democratizing artificial intelligence knowledge and infrastructure is a sustainable approach to establishing a data-driven culture. We are working to empower business to use models and build its own analytical tools for improving the effectiveness and efficiency of its respective business function. We believe there are three essential prerequisites for making this approach work: (1) Fully utilizing cloud services, (2) staff training and upskilling, as well as (3) coordination and commitment. A lean but effective central data team can then focus on provisioning, documenting and governing required platforms, working with HR to build a specific data curriculum, as well as productionizing any tools that qualify for global rollout.