Current Challenges and Prospective Benefits of Using UAVs

The modern economy completely changed by offering to industry groups the capability to reorganize their operating processes. Nowadays we become observers of similar in scale revolutionary transformations: technologies for the use of unmanned aerial vehicles substantially modified business models and new operating conditions have been developed in various sectors from industries, agriculture to the emergency, parcel delivery or movie industry. In the very near future, clients’ enterprises from multiple sectors of the economy will recognize the first effect of the use of unmanned aerial vehicles (UAVs) in diverse fields - from commercial sectors to examining and exploring the environment or to reduce the impacts of unexpected disasters. The aim of the present review paper is to analyse the opportunities and advantages of using the application of UAVs technologies. On the other hand, not only the devices (drones) themselves are of importance, but also their wider utilization to acquire extraordinary volumes of data.

Judgment Aggregation in Creative Production: Evidence from the Movie Industry

We study a novel, low-cost approach to aggregating judgment from a large number of industry experts on ideas that they encounter in their normal course of business. Our context is the movie industry, in which customer appeal is difficult to predict and investment costs are high. The Black List, an annual publication, ranks unproduced scripts based on anonymous nominations from film executives. This approach entails an inherent trade-off: Low participation costs enable high response rates, but nominations lack standard criteria, and which voters see which ideas is unobservable and influenced by various factors. Despite these challenges, we find that such aggregation is predictive: Listed scripts are substantially more likely to be released than observably similar, but unlisted, scripts, and, conditional on release and investment levels, listed scripts generate higher box-office revenues. We also find that this method mitigates entry barriers for less-experienced writers, as (i) their scripts are more likely to be listed than those by experienced writers and to rank higher if listed and (ii) within scripts by less-experienced writers, being listed is associated with a higher release rate. Yet, the gap in release probabilities relative to experienced writers remains large, even for top-ranked scripts. These results can be explained by the premise that scripts from less-experienced writers are more visible among eligible voters than scripts from experienced writers. This highlights idea visibility as an important determinant of votes and surfaces the trade-offs, as well as potential limitations, associated with such methods. This paper was accepted by Ashish Arora, entrepreneurship and innovation.

Movie Success Prediction Using Data Mining

The movie industry is arguably one of the biggest entertainment sectors. Nollywood, the Nigerian movie industry produces tons of movies for public consumption, but only a few make it to box-office or end up becoming blockbusters. The introduction of movie success prediction can play an important role in the industry not only to predict movie success but to help directors and producers make better decisions for the purpose of profit. This study proposes a movie prediction model that applies data mining techniques and machine learning algorithms to predict the success or failure of an upcoming movie (based on predefined parameters). The parameters needed for predicting the success or failure of a movie include dataset needed for the process of data mining such as the historical data of actors, actresses, writers, directors, marketing and production budget, audience, location, release date, and competing movies on same release date. This model also helps movie consumers to determine a blockbuster, hit, success rating and quality of upcoming movies before deciding on a movie ticket. The data mining techniques was applied to Internet Movie Database MetaData which was initially passed through cleaning and integration process.

Orange & Teal

‘Orange & Teal’ has become the preferred ‘look’ of the Hollywood movie industry. Is this craze just another arbitrary fashion? Possibly not, because ‒ apart from the name ‒ this palette has been around for ages in the visual arts. It is variously known as ‘painting in cool and warm,’ drawing a trois croyons, use of a ‘limited palette,’ and so forth. This leaves open the question of whether there might be one or more fundamental reasons for the preference for this particular dichromatic pair. Why not yellow–blue, red–turquoise, or green–purple? Reasons might be sought in human anatomy/physiology, physics of surface scattering, or the ecology of the human Umwelt. An in-depth analysis reveals that all these factors cooperate to render the orange & teal complementary palette indeed special. It involves world, body and mind and has to be understood in a proper semiotical (biological) setting.