Top Three Telecommunications Industry Trends
The telecommunications industry continues to be a critical force for innovation, growth, and disruption across multiple sectors. Today it’s no secret that the telecommunications companies are struggling with change and facing constant disruption. Here are a few telecommunications industry trends that will help telecommunications providers through the next generation:
Telecommunications providers will fully unleash the power of 5G
The growing market for broadcasting and mobile live streaming requires fast and reliable wireless connections. 5G seems to be a promising option for the live broadcasting industry, as it is capable of providing a much more faster, reliable, highly-secure and agile wireless technology.
Commoditization of AR and VR technologies
Virtual reality and augmented reality are gaining popularity across industries. This trend is expected to grow bigger in the coming years, creating more demand for sophisticated applications, enabling telecommunications providers to enhance their devices and gadgets’ portfolios in the coming years.
In-Flight connectivity systems
In-flight connectivity is expected to be a major disruptor for telecommunications companies. Connected aircraft are expected to redefine customer experience and transform the lives of individuals. Also, this is one of the major telecommunications industry trends, that is set to transform the telecommunications landscape.
The client- a renowned player in the telecommunications industry in the UK.
Project Background and Solution Offered
A globalized and fast-changing world requires organizations to have financial stability and liquidity. The overall efficiency, however, depends on the continuous rigor in governance, data management models, and fraud analytics technique adopted by the organization. The client- one of the world’s leading telecommunications providers operates in a highly interconnected and globalized environment where financial risks and fraudulent activities pose a major threat to the organization.
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The client was facing fraudulent activity due to which several BU’s resulted in poor returns. The client had knowledge of one type of fraud but recognized other types of fraud that were unaware of. They wanted to analyze how fraud analytics could help them identify- where fraud was potentially occurring, ways it could have been carried out, and specific areas they needed to monitor closely to overcome such risks. Our expertise in working with telecommunications companies enabled us to leverage fraud analytics to gain better clarity on the organizational risks.
Value Delivered to the Client
Quantzig’s fraud analytics experts worked parallelly with the client and employed analytical and statistical techniques to correlate certain types of behaviors displayed by what was understood to be fraudulent activity. Our fraud analytics solution empowered the client to identify anomalies in the financial data and also pointed out areas that had major issues.
The fraud analytics solutions not only helped the client to remain vigilant and resilient but also helped them minimize risks and optimize new opportunities. After the successful completion of this assessment, the client requested an ongoing agreement to continue with the analysis. This enabled them to gain detailed, ongoing insights into a range of indicators in the form of visual outputs that pointed to the areas of business that required more focus.