How can businesses find the best strategies to maximize customer satisfaction?
Certainly by knowing what their customers want or need and then shaping their services accordingly.

Netflix seems to have acknowledged the importance of giving customers what they are looking for. Therefore, when deciding which TV shows or movies to purchase, Netflix considers customers’ tastes and preferences. The company collects data about its customer segments and uses the data to better serve its subscribers by offering relevant services that create a value for customers. And where does the data come from?

In “How Netflix Knows Who Wants To Watch What”, Nick Taylor-Vaisey mentions that Netflix gathers information from file-sharing websites. Once Netflix knows which movies or shows people have been searching for, it simply offers the popular, highly demanded ones at a reasonable price. The convenience of using Netflix instead of trying to find these files online -and waiting for them to be downloaded- seems to be creating a comparative advantage for the company.

Netflix is only one of the many successful businesses using this technique. Youtube, Facebook and Twitter are large companies that seek to learn more about their users and format their content to correspond to the overall demand.

Link to Nick Taylor-Vaisey’s Blog on Maclean’s:
http://www2.macleans.ca/2013/10/10/pirate-raid-22/

Image taken from:
http://www.digitaltrends.com/home-theater/netflix-publishes-isp-speed-index/