Responsiveness and clarity, perhaps more than in any other industry are crucial to Telecommunications.
Challenged by the advancing communications demands of a ‘smartphone generation’ over the last few years, the role of communications service providers (CSP’s) and the data they offer is increasingly valuable, owing to the sheer quantity and quality of the unstructured data they produce.
Think about it. From mobile network to Internet providers and more, CSP’s are uniquely placed, sitting right in the driving seat of big data generation. But just because they’re creating data, doesn’t mean they’re using it to its full potential.
So how can the telecommunications industry take advantage of its perfect data position and insight, to deliver better service and enhance their understanding of customer needs and behaviour? How can it transform its data from a ‘difficult-to-process-and-monetise’ by-product of digital communication into a valuable, optimised asset?
The importance of insight
Big data has changed the way CSP’s, and indeed the way most organisations think. Facilitating the ability to be reactive and responsive in real-time, big data allows telcos to better themselves from the core – from advancing competitively, to increasing profits, generating new revenue and tailoring services and product to suit demand.
To achieve this, the data focus should be on using consumer insight to become as consumer-centric as possible; adopting a personalised, consumer focus in marketing, product development and interaction efforts.
Allowing each aspect of an organisation to co-operate efficiently, effective big data allows telcos to:
Determining the what and why
These data uses for telecommunications companies are by no means comprehensive, but are a small insight into how big data solutions can be used to enhance communications and business within a communications industry. Collecting vast amounts of data everyday from routers, access points, social media and more, CSP’s are of course also in a position of responsibility - the information they gather is of monetisable value to other industries as well as to themselves.
An example of how clearly managed data can uncover the ‘what’ and ‘why; a CSP client, collaborating with data providers noticed a correlation between calls to premium rate numbers and customer churn. When customer profile data was examined to determine why, it became clear that the cost of the calls was not the issue, but that the customers themselves were financially vulnerable. The numbers they were calling were financial service companies, such as credit agencies.
Data providers are therefore key to helping organisations capitalise on previously unmanageable, unclear data, facilitating the reduction of costs, and the increase of profit and loyalty retention, while maintaining consumer trust.