Big Data Analytics: The Next Big Thing in the Telecom Industry?
The growing popularity of the ‘digital era’ has made the telecom sector one of the most rapidly growing industries across the globe. With increasing competition in the market, telecom companies are adopting the latest technologies that are available in the market to have a cutting edge over their competitors. Big data analytics is one such […]READ MORE >>
The growing popularity of the ‘digital era’ has made the telecom sector one of the most rapidly growing industries across the globe. With increasing competition in the market, telecom companies are adopting the latest technologies that are available in the market to have a cutting edge over their competitors. Big data analytics is one such trend that is becoming popular in the telecom industry due to its utility, but many telecom companies are yet to exploit this technology thoroughly. This is mainly because of the vast amount of complex data that the telecom companies deal with, making it essential to first evaluate the data available thoroughly and then deciding on which data to use to solve a specific business problem.
How Would Big Data Analytics Benefit the Telecom Companies?
The entire telecom value chain is expected to benefit from big data analytics. Many giants among the telecom companies have started to resort to big data analytics to tap and retain customers. Here are some of the benefits that a telecom company would get from adopting big data analytics:
- Fraudulent behavior can be identified immediately by analyzing call records
- Analyzing network traffic in real time will help in real-time will help to optimize routing and quality of service
- Social networking and location-based technologies can be used for tailoring marketing campaigns to individual customers
- Development of new products and services based on customer insights and behavioral patterns
- By acquiring a better understanding of the customers, telecom companies are more focused on improving their experience at each touch point through customized offerings, fast feedback, and high-performance services
- Taking advantage of the data available and the market insights with the help of big data analytics will help telecom companies to reduce costs
- Big data analytics opens new paths of revenue generation for telecom companies by assisting in formulating customized services for customers
Challenges Faced by Telecom Operators in Employing Big Data Analytics
As much as big data analytics looks promising in the telecom industry, there are many challenges that they face while implementing big data solutions.
Telecom companies deal with a wide variety of data that holds various customer details such as the call data records, billing information, connected devices, etc. This data comes from different unstructured sources. So, it becomes difficult for the service providers to re-structure and organize this data to carry out the necessary analysis.
Customers use large volumes of data within a small time frame. Therefore, it becomes difficult for telecom companies to record these vast amounts of transactions in a short span of time.
The user data generated is complex and unstructured. Also, no specific format is used for storing data. The user data collected varies with demographics, lifestyle, geography, etc. Therefore, if the data is not filtered correctly, big data analytics may provide unwanted results.
To know more about the role of big data analysis in the telecom industry
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