Intense competition in the Communications industry

The Communications industry is on the front lines when it comes to big data. Next-gen networks equal massive data volumes. So do closely tracked customers. All of this data comes in real time. It’s a potential gold mine. But a huge challenge to manage, especially in call centers and other customer-facing channels.

Big Data and the Communications Industry: What You Need to Know

The backdrop is intense industry competition. Huge customer churn. Plus ever-rising customer expectations. And intense cost and profit pressures. Those are the daily realities for business and IT executives in the communications industry, one of the most competitive sectors on the planet.

Yes, big data can help the communication industry on all these fronts. And communications firms have more potential value in their big data and information assets than most other types of companies. Simply by virtue of having more data. So the question becomes how to make use of that big data, to operationalize it for competitive advantage and convert it to bottom-line value.

Big Data in action

How are leading communications service providers connecting to customers and seizing opportunities with big data?

  • Creating 360-degree Views of Subscribers: with an overlay of best-in-class big data analytics focused on both transactional data and interaction data
  • Enriching Customer Information for Better Behavioral Insights: with better views of subscriber behavior, one European telecom saw 40% cost savings from 360-degree views
  • Putting Actionable Data in front of Those Working with Actual Customers: in retail stores, contact centers and other points of interaction where the right data can make a difference
  • Creating New Products and Services: integrating all customer data to quickly develop, test and launch new and innovative products – expanding digital capabilities and boosting the digital confidence of its consumers.
  • Monetizing Data: There’s potential gold in the large volumes of subscriber data for communications service providers (CSPs) – as application providers have shown.

The bottom line: for telcos and other companies in the communications industry, every single customer interaction matters. So, to get the right outcomes, the right data must be accessible to the right person at the right time.

Network Analytics Improve the Numbers: 35 million subscribers. 53% percent market share. A European communications service provider used network analytics and BI to unlock value from a solid foundation.

Stop Churn at the Source: Top-performing telcos use subscriber analytics to solve service issues proactively – instead of just loosely making offers.

Connecting Big Data To Roi

Connecting Big Data to ROI

Communications service providers live and die on the front lines. So it is worth asking how big data investments can position these firms to connect with customers and compete – day in, day out. The key components:

  • The Right Big Data Strategy : clearly defined strategies start with understanding how big data can drive substantive performance gains
  • Taking a Holistic Ecosystem Approach : to ensure big data environments work effectively, they must align to business goals and serve unique user needs
  • People and Teams : big data success is driven by collaboration and business expertise, not just by tools and technologies

On the technical front, a holistic ecosystem approach helps ensure big data environments work effectively, in line with business goals and to serve unique user and customer needs. For sectors like communications, with its unique challenges and objectives, mastering the right big data model is often the first step.

It’s hard work, but very much worth the effort as big data. Or, to put it more precisely, more effective use of big data is most powerful weapon available to most communications service providers.