Analytics in Arts and Culture

2024/2025

Учебный год

ENG

Обучение ведется на английском языке

6

Кредиты

Кто читает:

Департамент менеджмента

Статус:

Курс обязательный

Когда читается:

1-й курс, 3, 4 модуль

Course Syllabus

Abstract

Art analytics allows the industry to measure the financial and intrinsic value of each art piece with greater accuracy. Exceptionally popular art pieces can be auctioned for millions of dollars because there is no other duplicate piece available. However, the price of a single art piece is often decided without important context like the artist’s other completed works. Art analytics promises to address this situation by pulling information from different sources to give a more well-rounded view of the art piece’s value. In addition to the economic value of art, there are also social and educational benefits as well. Art brings cultural value to any society, but measuring that value in precise numbers has always been a challenge. However, due to art analytics, it is becoming easier to measure the intrinsic value art brings, not just to our homes but the public as well. Art analytics makes use of new data like social media and user-generated sites that make it easier to measure the emotional and mental effects of art. Art and the wider cultural sector can diversify their business models and discover other avenues for revenue thanks to art analytics. Art institutions can experiment with different business models without risking their hard-earned capital. Art analytics uses sophisticated algorithms to analyse data to make predictions on how targeted customers respond to new art events. For example, will customers pay for live-stream theatre? With analytics, institutions will be emboldened to try out new forms of art and develop new experiences that will expand their audience.