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We have looked at the success stories of Netflix, which has found a way to deepen understanding and to expand its competitiveness.

Most companies have a goal, like 'companies must adapt to change and lead the market.'

What are preparations essential to make this goal reality?

Recently in Silicon Valley, the term 'Netflixed' has become an idiom.

Netflix's business model, which provides optimal content by analyzing user feedback, is now recognized as a core competency for new businesses.

The Netflix way is very efficient in providing engaging content. Netflix analyzes consumers' preferences by various subdivision (sexual expression/cruelty/morality of the main character /happy ending/location/main character' s job etc.) and recommends according to it.

Netflix was able to expand their capabilities by changing their view of the business. They started to create content based on their recommendation service.

Netflix, which had difficulties in getting the contents they wanted, expanded its core competencies to produce and deliver dramas on its own.

By creating contents on consumer analysis, an edge in quality, as well as price, can be ensured.

The 'House of Cards,' which was created based on analytical data, was a major hit. 

Not only the background and characters of the play were based on analysis, but also PR strategies were carefully analyzed and applied.

The fun part is that the improvement of Netflix 's recommendation system 'CineMatch' has been improved and developed by external experts.

Through the 'Cine Match Quality Improvement Contest,' which started in 2006, in three years more than 40,000 experts attended, adding various ideas and remedies.

The experts who participated in the improvement contest said that the plain opportunity to analyze the tremendous amount of Netflix data was reason enough to join.

The success of Netflix's business, which has expanded its internal capabilities from recommendation to production, and has introduced an open system that enables external experts to participate in continuous quality improvement, is a strategy that fits the latest trend of business expansion in the new digital era. 

If you start a new business, finding a way to deepen your understanding of your company's competitiveness and expanding is a priority.