Table of ContentsBig Data and AnalyticsCloud ComputingCybersecurityInnovation and Technological DevelopmentNetflix, the world's first streaming entertainment service, has revolutionized the way people consume multimedia content. The company's success can be attributed to its innovative IT strategy, which has allowed it to stay ahead of the competition and constantly improve its services. In this essay, we will analyze Netflix's IT strategy, exploring its key components and the impact it has had on the company's success. Say no to plagiarism. Get a tailor-made essay on 'Why violent video games shouldn't be banned'?Get the original essayBig Data and AnalyticsOne of the key aspects of Netflix's IT strategy is its use of Big Data and analytics. The company collects large amounts of data about its users' viewing habits, preferences and behaviors. This data is then analyzed to gain insights into customer preferences and trends, which are used to inform content acquisition and production decisions. This has enabled Netflix to offer a personalized and tailored experience to its subscribers, leading to greater customer satisfaction and loyalty. According to a report from Statista, Netflix's investment in data analytics and research totaled more than $1.4 billion in 2020, underscoring the company's commitment to leveraging data to drive its business decisions. This investment has paid off, as evidenced by Netflix's growing subscriber base and profitability. Cloud Computing In addition to big data and analytics, Netflix has also invested heavily in cloud computing. The company has migrated its entire IT infrastructure to the cloud, allowing it to scale its operations quickly and efficiently. This allowed Netflix to manage the massive amounts of data generated by its users and provide high-quality streaming services to millions of subscribers around the world. By leveraging cloud computing, Netflix was able to reduce operational costs and improve agility. According to a report from Synergy Research Group, Netflix was the world's largest cloud user in 2020, spending more than $2.4 billion on cloud services. This demonstrates the company's confidence in cloud computing as a cornerstone of its IT strategy. Cybersecurity Additionally, Netflix has made significant investments in cybersecurity to protect its users' data and ensure the integrity of its platform. The company has robust security measures in place to protect against cyber threats and data breaches. As cyberattacks become more sophisticated and widespread, Netflix's commitment to cybersecurity is crucial to maintaining the trust of its users. According to a study by Cybersecurity Ventures, the global cost of cybercrime is expected to reach $6 trillion per year by 2021. By prioritizing cybersecurity, Netflix mitigates the risks associated with cyberthreats and protects its business operations. Innovation and technological developmentNetflix's IT strategy also emphasizes innovation and technological development. The company continually invests in research and development to improve its streaming technology, improve user experience and stay ahead of the curve in a rapidly changing industry. This commitment to innovation has allowed Netflix to introduce features such as offline viewing.