What is the Role of Analytics in the Telecom Industry?
‘Analytics’ in the telecom industry plays a crucial role in turning valuable business data into actionable acumen. This is essential from a business perspective as telecom service providers must keep abreast of new technological breakthroughs to stay ahead of the curve. Leveraging telecom analytics can help businesses operating in this sector to gain insights that can not only help them stay a step ahead of their competitors but also improve business performance by anticipating customer needs and preferences.
Request a free proposal to learn more about our advanced analytics capabilities.
To thrive in today’s complex telecom industry, business data must be converted into actionable insight, to be able to respond in real-time to behavioral changes in the customer mindset or to proactively respond to threats. This is exactly where telecom analytics can win the battle against the traditional BI and in-house analytics tools. However, most telecom companies are unaware of the true potential of the staggering volumes of data which could offer deeper insights into customer behavior, preferences, and service usage patterns, if analyzed accurately. Moreover, with the growing use of smartphones and handheld devices, telecom companies have access to exceptional amounts of data that can be sourced from diverse sources across the organization.
Data has the potential to transform business processes, enabling companies to win the battle to earn more customers and create new revenue streams. Also, it can provide them with a wealth of information about their customers’ behaviors, preferences, and service usage patterns. Yet, many telcos still struggle to fully derive the greatest value of big data, owing to their inability to leverage telecom analytics.
The Business Challenge
The client- a leading telecom services provider, based out of North America faced several challenges that spanned across core areas of their business operations. Serving their customers was an important mission to the telecommunications company. With access to valuable data from pay-per-view, video-on-demand, and other subscription-based services the client knew that an in-depth analysis of this data could help them provide superior customer experience. Starting with data from customer subscriptions, they wanted to better understand customer behavior and redefine their service portfolio to attract new customers.
The telecom company was also finding it difficult to answer questions concerning the best course of action, including-
- Who are our most valuable customers and whom should we target to maximize sales?
- How do we find the ideal bundle of services that match customers’ needs?
- How do we retain customers and drive profitability?
To address these issues, the company’s C suite executives realized that they needed to move from ad-hoc decision-making processes and leverage telecom analytics solutions that could provide transparency on their data and help redefine their services to meet the evolving needs of their customers. This is when they decided to collaborate with Quantzig, owing to its expertise in telecom analytics and the ability to provide custom solutions to enhance profits and drive business outcomes.
Would you like to learn more about the business benefits of analytics in the telecom industry? Speak with our analytics experts right away!
To help the client tackle their challenges we adopted a well-rounded, comprehensive approach that revolved around leveraging telecom analytics to identify opportunities for value creation, demonstrate quick wins, and scale operations. Having analyzed their challenges, our telecom analytics experts believed that to successfully leverage telecom analytics to analyze business data it was important to keep their analysts in the familiar environment of Tableau. To do so, we implemented an advanced data analytics model and built a BI consumption layer, which could be integrated with their existing data management system to provide a familiar analytics environment for their entire marketing team.
To provide the interactive response time, we also ensured that the devised model was integrated with multiple dimensions of data. The integration of dissimilar data sets obtained from diverse data sources with the existing data management system enabled seamless access for analysts. Due to which the client saved a considerable amount of time which would have otherwise been wasted in setting up and processing data extracts.
Embedding telecom analytics solutions in their decision-making processes was a significant advancement for the telecom company. With the help of our telecom analytics solutions, the client gained deeper insights into data sets that helped them achieve the expected transparency and build the capabilities they needed to define the right pricing strategies. The journey also sparked a rapid and lasting change of mindset across the organization, shifting the focus of their business processes from being sales-oriented to being customer-centric.
Wonder how telecom analytics can help your organization? Request a demo to get personalized recommendations from our analytics experts.
Insights from the newly developed business model not only helped the company to redefine its services portfolio but also helped them save millions in operating costs. With telecom analytics, they were also able to understand key metrics, market trends, and customer behavior. Using telecom analytics the client was also able to answer all of their questions and drill down to the customer interaction details. Ultimately, the use of advanced telecom analytics solutions enabled this multinational telecom company to gain deeper customer behavior insights, which in turn resulted in a 25% improvement in operational costs.
Quantzig’s telecom analytics solutions also enabled the telecom company to:
- Achieve commercial excellence through advanced strategies
- Gain deeper insights on customer behavior
- Drive 25% increase in operational cost savings
- Redefine and bundle their services according to customer requirements