Driving profitable growth is no small feat for telecommunication service providers in Europe, given the complexities and regulations in the market. With new players entering the market and capital costs skyrocketing at breakneck speed, competitive pressures facing the existing telecom companies have doubled, leading to a tri-fold increase in customer acquisition costs. The client is one of England’s leading telecom service providers with more than 15 million users. The telecom company is well-known for its network services that can be customized to meet the different requirements. The client was facing challenges with high customer churn rates. Our big data analytics experts helped this client to reduce customer churn rate while delivering valuable insights into making data-driven decisions.
The Client’s Challenge
The client is a leading telecom services provider based out of Denmark. The company is well known for catering to the needs of more than 15 million users through its customized network and telecom services. The client was facing problems with predicting churn based on customer behaviors. They were also looking forward to acquiring new customers while maintaining a high engagement rate with existing customers. Hence this telecom provider wanted to develop a churn prediction model by leveraging Quantzig’s telecom big data analytics capabilities.
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Problem Statement 1
High churn rate: Acquiring new customers is a challenging task and keeping the customer engaged requires a lot of effort as well. The client’s customer retention strategies were not built to meet their current needs and failed to help them achieve their goals around churn reduction. Realizing the true potential of big data analytics in the telecom industry sector, they were looking forward to reducing this high churn rate and acquiring a new set of customers using big data analytics.
Problem Statement 2
Customer segmentation: With a huge customer base spread across Europe, the client’s main challenge was to segment them into homogenous cohorts based on their needs. They were also looking forward to applying telecom big data analytics to develop targeted marketing strategies and offer customized services to meet the needs of different customer segments.
Problem Statement 3
Product development: With the proliferation of technology the client realized the need for developing more products and offer personalized services. And at the same time, the telecom services provider wanted to develop products backed by telecom big data analytics to ensure a very high-quality performance as per the customer’s requirements.
Predictive analytics in telecom is applied by telecom service providers to get valuable insights. Speak to our analytics experts to know how our predictive analytics can help you make accurate data-driven decisions.
How We Helped the Client
Quantzig’s telecom big data analytics experts combined advanced analytics with predictive analytics in telecom to understand the challenges the client was facing. A deep dive into the challenges facing the European telecom industry helped our experts to understand the problems faced by the client and the reasons behind their inability to adapt telecom big data analytics to streamline operations and maximize profits. On further analysis of key problem areas of the client, our experts revealed the client needed to form an effective marketing strategy to stop the high churn rate and acquire new customers. Our telecom big data analytics experts then began working on developing predictive data models for the client to help them with visualizing data to perform better and predict churn.
Within a very short span of time, the client was able to identify the factors that were resulting in high churn rates. Big data analytics for telecom also enabled the client to re-design better marketing strategies as per customer needs. In the final stage of this engagement, the client exponentially used customized big data analytics for telecom sector to develop new and better products which helped them to stand apart from their largest competitor.
Big data analytics for telecom sector is gaining popularity and is witnessing wide-spread adaptation. The telecom big data analytics solutions offered by Quantzig helped the client to gain granular insights into the customer preferences which helped them to further understand their customers and their expectations. On developing products according to customer preferences, the client experienced a sudden surge in their consumer retention rates.
Quantzig’s telecom data analytics solutions also helped the client to:
- Reduce customer churn rate
- Acquire more customers
- Develop new data services
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Why Choose Quantzig’s Telecom Big Data Analytics Solutions?
The rise in the use of smartphones has triggered an eruption in the volume of data flowing through the networks of telecom companies. In such a scenario, it is crucial that the telecom companies collect, store, and analyze insights from the available data. Our global team of telecom data analytics experts possesses the necessary skills and expertise required to help businesses drive bottom-line growth. Our telecom big data analytics solutions can help telecom operators to increase profitability by optimizing network usage and services, enhancing customer experience.