How Advanced Analytics can help Telcos sail through the Challenges and achieve Success
Data has been moved from being a technological asset to become the most important business asset. The whole business strategy right from entering new business verticals, expanding service or product portfolio to creating marketing or sales strategies, everything revolves around data. Telecom industry has been at the forefront in terms of having huge volumes of customer data and analyzing this for different purposes. But basic analytics is the story of the past. For Telecom companies, advanced analytics brings in insights that were impossible to imagine earlier. Simple analytics talked about descriptive or diagnostic analytics but advanced analytics for telecom goes one step further. It offers predictive analytics and prescriptive analytics that can help CSPs to plan their growth with some surety on ROI.
Why We Need Advanced Analytics for Telecom?
The growth in terms of number of users and the magnitude and scale of services that are offered speaks for the need for advanced analytics for Telcos. The number of unique mobile subscribers has reached to 5.1 billion in 2019. Some parts of the world have already started using 5G while some are still on 4G/3G. We have innovations in IOT, M2M, AI and cloud computing as this brings another opportunity for CSPs i.e. enterprise business offering. As this will accumulate humongous amount of data and simple metrics and analysis are no more capable to offer real time insights for business problems, hence it further advocates the need for advanced analytics as the process are going to be more cumbersome. We need advanced analytical capabilities that are agile, fast and easy to execute at the same time.
What are the various ways Telcos can use advanced data analytics?
CSPs can apply advanced analytics in all business areas and help in achieving operational efficiency. Some of the prominent use cases that advanced analytics can solve for telecom are from revenue analytics, risk analytics, customers and campaign intelligence, product intelligence or sales and marketing campaign intelligence. It can help with forecasting analytics to help CSPs design their action plans. The advanced analytics’ s near real time capability to provide insights can allow timely actions to avoid or tackle any unexpected challenges.
Benefits that Advanced Analytics Offers
Advanced analytics for telecom offer lot of value additions for all business verticals. CSPs can use advanced analytics to plan their network planning. Various metrics such as user density, usage pattern, device types will offer insights to plan their network availability. Analysing customer data will help with churn prediction, revenue forecasting, insights for new products & services.
Advanced analytics has opened a plethora of new information that was not accessible earlier. It shares insights beyond the usual metrics and build creative models that can easily cater to the unusual business problem statements.
Subex Analytics Center of Trust (ACT) offers advanced analytics capabilities to harness the real power that data can provide. It is driven by the Trifecta approach that keeps the business goals in mind. It is agile and quick at responding to the latest trends and technical requirements.
Analytics to Business to help you build a future proof infrastructure that saves a significant CAPEX. The consumable outcomes approach combines the best of both worlds – human intelligence and machine learning; hence it addresses the concerns logically and accurately. The result is you get a fully automated intelligent architecture that can deliver consumable outcomes across all audience levels in a democratized fashion.
To find out more about how domain-driven analytics can impact your ROI, Increase Customer Experience and Profitability.