Salesforce Analytics Solutions for the Telecom Industry
The global telecom industry typically includes internet service providers, wireless operators, cable and satellite companies that make communication possible through the phone or the Internet. These establishments create a set-up that allows data to be sent anywhere in the world. The telecom industry is primarily driven by ongoing technological innovations and developments to offer a wide range of facilities at low-cost margins. Furthermore, the emergence of the internet over the past couple of decades has boosted the growth of this industry.
Although the industry is witnessing a promising growth, certain factors are expected to hinder the growth of the telecom industry. These factors include:
- Innovations: Firms within the telecom industry space are under pressure to develop a platform that supports the latest technology owing to the relentless growth in innovations. Moreover, with the integration of IoT services, connecting devices have become more seamless.
- Increasing competition: Over the past few years, there has been a substantial increase in the competition among over the top (OTT) services providers. Also, according to a recent research report, it is estimated that approximately 2.5 billion people use messaging apps globally, which is further increasing the level of competition between service providers.
Many such factors are compelling telecom industry players to leverage the use of salesforce analytics. Salesforce analytics helps leading firms in this industry space to offer personalized experiences to the customers. Salesforce analytics also helps businesses better engage with customers and improve customer loyalty.
The telecom industry features internet service providers, cable and satellite companies, and wireless operators who facilitate easy and fast mode of communication via the phone or the internet. With developments being made in every stratum of society, the telco systems market has witnessed exponential growth in all terms. However, the market growth of this sector is highly influenced by the dynamic technological trends. Hence, to stay afloat in this dynamic market, the telco company should adapt to the changing trends and deliver their core services in accordance with consumers’ demand.
Technological developments in the global telecom industry take place at an astounding rate. Telecom services providing companies are always at the receiving end of various technological innovations and customer’s demands. Nevertheless, it can be said that the telecom industry is sitting on a goldmine of opportunities waiting to be explored. However, harnessing data is a major concern for players in this sector, owing to the abundance of data sources – location logs from towers, event logs, call details from network switches, and IDS/IPS alarm.
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To process the data faster, telecom services providers will have to leverage advanced data analytics solutions that would help them help them to achieve accurate and timely insights. Telecom analytics ensures that the providers of telecom services have the right solution in place, which can help them harness the huge volumes of data and gain meaningful insights from them. The proliferation of technology over the last few years has made it essential to extract maximum insights from data-rich repositories to gain a competitive edge.
Salesforce Analytics Challenges Faced by the Client
The client, a leading telecom industry player with business operations spread across the globe, wanted to deliver offerings at an affordable rate of interest better. With the help of salesforce analytics, the client wanted to offer a convenient user experience and improve customer loyalty. The client also wanted to revamp their existing architecture and engage more with the customers to enhance their overall productivity.
The emergence of new data vendors: The trend of digitalization has been cashed in by scores of enterprises that are offering a wider variety of data services; thereby, thinning the line between a telco company and technology providers. In order to stay afloat in the competitive telco systems market, companies are allocating more resources to develop newer telecom products, which is subsequently resulting in depleting profit margins.
Integration of the IoT: IoT is predicted to be the next big thing in the communications platform, which will connect about 21 billion devices by 2020. This, in turn, will pose an immense challenge for a telco company to render its platform functional to accommodate IoT.
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- The decline in voice revenue: The medium of communication has changed over the years. Initially, text messages and voice used to dominate the telecom industry, people now prefer VoIP and internet messaging. This has negatively impacted the revenue growth in the telecom sector, compelling companies offering telecom services to identify additional revenue sources.
- Interpreting the needs of customers: The inability to understand and predict customer preferences can be attributed to a poorly defined growth agenda. It is essential to enhance customer relationships by understanding their requirements and catering to their needs.
The telco company was challenged with unmet sales target with their newer product portfolio across certain regions. Even after executing a major brand campaign, some of the products failed to appeal to the digitized customers. In addition to this, the telco company required better visibility of the telco systems market ecosystem to expand their product portfolio in a profitable manner.
Revolutionary Salesforce Analytics Solutions for the Client
Ouantzig’s salesforce analytics engagement helped the client address the real-time needs of the customers based on their expectations. The salesforce analytics solution also helped the client effectively manage workflows and processes to increase efficiency, transparency, and profitability. This engagement also assisted the client in comprehending customer behavior and reach out to them seamlessly.
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Quantzig’s telco analytics solution offered detailed insights into real-time performance metrics which helped the telco company in remodeling their inventory into a more scalable product portfolio. It guided the company in adopting cost-effective strategies to create and market products which ensured maximum sales with minimized inventory and production costs. Reduction in production expenditure gave the telco company liberty to invest in new and lucrative areas, where according to Quantzig’s salesforce analytics experts, the products were in high demand.
With the help of Quantzig’s salesforce analytics solution, the telecom client enhanced its profit margins by better connecting with their customers. It enabled the client to identify essential opportunities to optimize costs across the value chain. Moreover, implementing telecom analytics offered enhanced visibility into the core operations, market conditions, and internal operations. Also, salesforce analytics helped in the identification of hidden data patterns, customer behaviors, and relationships, which subsequently assisted the client in enhancing their business strategies.
With the help of Quantzig’s salesforce analytics, telcos can better understand the customers and make quick data-driven actions. Firms can also gain actionable insights into the marketing performance and the impact on sales revenues. Furthermore, salesforce analytics helps companies effectively analyze customers’ engagement with their products and service offerings to generate better ROI.
Companies offering telco systems can leverage Quantzig’s salesforce analytics to identify performance indicators and important metrics for organizational growth. Our solutions highlight growth opportunities that help the telco company to improve the sales performance of its products. Telco analytics also helps to bridge the gap between the customer’s expectations and a telco company’s vision while marketing the product. It also offers a step-by-step analysis of the company’s sales data and helps to devise accurate sales forecast business models that help in revenue generation and brand scalability in the hyper-dynamic market for telco systems.
Quantzig’s salesforce analytics solutions help anticipate customer demands to offer personalized services at significant stages of the customer’s journey. In order to capitalize on this potential, telecom industry firms have to integrate telecom analytics and build their competencies to maximize their benefits. Salesforce analytics also helps companies to devise enhanced strategies to continuously engage customers.