1) The document describes a cognitive psychologist's approach to analyzing movie rating data from Netflix to improve predictions compared to the Netflix Cinematch algorithm. 2) Key aspects discussed include measuring main effects and interactions of movies, users, and their ratings, clustering users based on experience and preferences, and calculating movie and user similarities. 3) The approach uses techniques from cognitive psychology like prototypes and exemplars as well as data mining methods to generate multiple predictive models which are then combined through linear regression to produce improved predictions.