The client – A renowned telecommunication network services provider
Area of engagement – Sales forecast
The ongoing innovations and developments are compelling the telecommunication network industry to improve their network efficiency and offer expanded services to the customers. The industry at large will witness a stipulated growth owing to the intense market competition and rising investments in new telecommunication technologies such as wireless communication and satellite. In addition, the growing concern for affordability in the services while maintaining the service quality is necessitating businesses to re-define their existing service architecture and enhance their service offerings. Along with the conventional factors, the rising number of internet users worldwide will fuel the growth of the telecommunication network space.
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Some of the factors that may curtail the growth of the telecommunication network include:
- Higher levels of connectivity: Today, with the relentless growth in technology, IoT is slowly paving its way into the telecommunication network space. It is predicted that the number of connected devices is going to reach 21 billion and to sustain the growth of the technology, telecommunication network providers should scale their levels of connectivity. Moreover, this places a lot of pressure on the network providers to streamline their technical capabilities to meet the growing demand.
- Competition from other OTT services: It is estimated that approximately 2.5 billion people worldwide rely on messaging apps as compared to the conventional text services offered by the telecom This shows a radical decline in the Average Revenue Per User, where the text services are expected to die out completely. The growing presence of numerous OTT service providers is compelling telecommunication network providers to invest highly in innovations to scale their service offerings.
To address such challenges and accurately forecast the sales, leading telecommunication network providers are augmenting the need for a sales forecast solution. Sales forecast helps businesses gain better visibility into the real-time sales data and increase sales predictability by fine-tuning the forecast accuracy. In addition, a sales forecast solution can help telecommunication network providers understand the demand for the services, and shape the pricing strategy to develop business efficiency.
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The Business Challenge
The client, a renowned telecommunication network provider, wanted to gain an accurate view of the sales and help them make informed decisions. With the help of a sales forecast solution, the telecommunication network provider needed to gain adequate insights into the sales performance and visualize their targets and achievements. The primary objective of the telecommunication network provider was to calculate the profits, take decisions on investments, and launch new services to the customers.
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The Solution Benefits and the Business Impact
Strategies that we recommend to improve service efficiency and enhance sales performance.
The sales forecast solution offered by Quantzig helped the telecommunication network provider calculate the sales and understand the current trends in the market. Based on the historical sales data, the client was able to monitor the sales target much easier and devise an effective sales strategy to achieve the desired goals. In addition, the telecommunication network provider was able to understand the relative cross-sell and up-sell opportunities to optimize the overall sales performance. Furthermore, the sales forecast solution enabled the client to maximize the opportunity to generate better revenue.
Sales Forecast Solution Predictive Insights
Quantzig’s sales forecast solution assisted the telecommunication network provider to understand the preferences of the customers and aggregate the forecasts based on the sales interactions with customers. The telecommunication network provider was able to streamline its market efforts and improve its overall revenue by 10%-15%.