Analytics is becoming an increasingly dominant theme in the telecommunications industry. Operators are interested in using it to improve organizational agility, optimize processes, enhance customer experience and develop new revenue streams. However, analytics isn’t a one stop solution — it’s just one piece of a much bigger picture. But what does that picture look like?
There are many advanced analytics use cases for telecommunications service providers, varying across networks, operations, customer and external monetization business models. The two key areas telcos deal with mostly will help provide a broad overview of the benefits of the right analytics.
- Using data analytics to optimize customer relationships
Because most communications today are digital, operators’ networks have become a highway of interaction. Consequently, there’s a huge opportunity to use the wealth of information available to optimize customer interactions, increase the strength of the relationship, and improve or develop new products and services.
- Using data analytics to optimize internal operations
This can be an easy win. Many telcos today are already digital, so data is abundantly available and ready to be used. And in most cases, the technology engineers are already there too, primed to understand it all.