Tag: big data and analytics

big data and analytics

6 Ways Big Data and Analytics Are Driving Profitability for the Telecom Industry

Today’s world of communications is driven by data produced by connected devices, social media networks, customer behaviours, call data records, government portals, and billing information. Telecom operators are finding it very difficult to deal with this avalanche of data. However, big data and analytics solutions can transform this challenge into an opportunity efficiently. By leveraging big data and analytics solutions, telecom operators can integrate new types of data in larger volumes and in real-time. Also, data analytics can help telecom operators in optimizing service, improving customer satisfaction, boosting revenues, and enhancing overall business value. In this article, our team of analytics experts has highlighted a few important ways in which big data and analytics can impact the bottom line and drive profitability for the telecom industry.

Quantzig offers customized analytics solutions to telecom companies to improve returns from CAPEX and OPEX. Request a FREE proposal to know more about our portfolio of services.

Benefits of Big Data and Analytics in Telecom

Big Data and Analytics Benefit #1: Improved Customer Insights

By leveraging big data and analytics solutions, telecom operators can turn structured and unstructured data into actionable customer insights. Big data and analytics solutions enable telecom operators to establish customer-centric KPIs, develop better customer profiles, and provide more targeted offers. Now, with the help of big data solutions, operators can retain that data longer and join different datasets together to gain better insights. Following are the components of customer data that telecom operators can consider reaching meaningful customer insights:

  • Customer information data
  • Device data
  • Usage data
  • Location data

Telecom operators serve a huge number of customers. By analyzing such customers’ data correctly through customer churn analysis, sentiment analysis and clickstream analysis, telecom operators can segment their customers into similar groups. Furthermore, this can help them to personalize their approach to meet the needs of each customer group and identify valuable customers, which is very crucial for strategic decision-making.

Big Data and Analytics Benefit #2: Accuracy in Churn Prediction

One of the most critical challenges that telecom operators face is customer retention. For any company, acquiring a new customer is more expensive than retaining the old ones. Therefore, churn prediction is very crucial for telecom operators. Big data analytics solutions include techniques such as data mining that helps to determine unseen patterns and decision trees, which enable early detection of customer’s value loss and long-term forecasting. Also, it enables telecom operators to identify factors responsible for customer churn and influence customer decisions.

Our customized analytics dashboard helps telecom companies realize and implement real-time analytics to derive insights on reducing fraud risks and losses. Request a FREE demo right away to gain better insights.

Big Data and Analytics Benefit #3: Enhanced Customer Experience

Big data analytics offer insights that help in improving the customer experience at every touch point through fast feedback, high-performance services, and personalized offerings. Big data applications allow telecom operators to unlock new insights in real-time that help them to proactively offer products or services to their customers at the right time. Additionally, this aids telecom operators to up-sell and cross-sell their offerings and improve revenues.

Also, with the help of predictive analytics, telecom operators can accurately predict and identify scenarios that lead to bad customer experience. But with the help of big data and analytics solutions, telecom operators can turn all the potential bad experiences into good ones by providing them user-specific solutions.

Big Data and Analytics Benefit #4: Increased Revenue

Big data and analytics solutions can bring considerable value to decision-making and provide more meaningful insights. This can further help to build competitive advantages and a more efficient cost structure. Driven by insights into big data trends, telecom operators can launch new business models and venture towards new niche segments.

Big data and analytics solutions provide telecom operators capabilities for business optimization, that can help them to boost revenue through better-targeted marketing strategies and minimize costs by identifying revenue leakages. By leveraging big data and analytics solutions, telecom companies can analyze the effectiveness of their marketing investments and optimize their marketing spends across channels to drive maximum ROI.

Want to know more about the benefits of big data and analytics in the telecom industry? Request for more information below.

Big Data and Analytics Benefit #5: Improved Quality Of Service

Big data and analytics solutions can help telecom operators to gain actionable insights into their networks in order to make them optimized, endurable, and scalable. This, in turn, helps in improving service quality in many cases. Also, big data and analytics solutions enable operators to optimize call routing by analyzing their network traffic with real-time call drop rate analysis.

Telecom companies can manage their network better through the measurement of cellular network performance and data traffic in real-time. Big data and analytics solutions can also efficiently help in adjusting maintenance schedules and proactive care by comparing real-time information with historical data.

Big Data and Analytics Benefit #6: Enhanced Security

Telecom companies can use big data and analytics solutions to investigate and identify fraudulent activities simultaneously. Data analytics solutions can help companies monitor large volumes of data gathered from customer demographics, customer usage patterns, sentimental data, geographical usage trends, and behaviour data. Furthermore, this can help telecom operators to predict the likelihood of unexpected behaviour through analytically driven surveillance.

Big data and analytics solutions can also be used for identifying fraudulent claims and unauthorized devices, customer data protection and tracking payment processing. This enhances security and helps telecom companies to manage risks efficiently.

IR30

Weekly Round-Up: A Storyboard on the Benefits of Big Data Visualization

LONDON: Quantzig, a leading analytics services provider, has announced the release of their latest storyboard on the benefits of big data visualization and how it can help businesses churn the large chunks of big data and harness the information lying beneath it. 

By utilizing big data visualization tools, companies can anticipate the available data to trace outliers, trends, patterns and interact with it to make informed decisions. The need for big data visualization tools can be inferred from the fact that the global business Intelligence and analytics software market is expected to grow significantly by 2019.

Quantzig’s analytics solutions have helped more than 55 Fortune 500 companies to make data-driven decisions and boost their revenue. Below, we have rounded up some of Quantzig’s recent success stories for this week and have also highlighted ways in which big data visualization have helped companies to speed up the process of comprehending large and complex data.

Leverage Quantzig’s optimized data analytics solutions that are designed to address your analytics requirements, reduce costs, and deliver outstanding performance. Get in touch with us today!

#1: Big data visualization facilitated robust risk management strategies: Making informed decisions, improving competitive position in the market are challenging tasks for businesses. Are you finding it difficult too? Not anymore. Big data visualization holds the solution to this. By utilizing big data visualization tools companies can manage storage and integration of big data. Furthermore, this can offer actionable insights into competitors’ strategy and help in devising robust risk management strategies.

Quantzig’s Big Data Analytics Helps A Pharmaceutical Industry Client Devise Robust Risk Management Strategies

#2: How will virtual reality transform big data visualization?  Although there are layers of technological capabilities that companies have been using to seek meaningful outcomes from the available data, the use of virtual reality in transforming big data visualization is a relatively new concept. The large amounts of data generated by organizations can be understood only through a series of data analytics steps, and effective data visualization plays a vital role in enhancing this strategy.

How Will Virtual Reality Transform Big Data Visualization?

#3: Big data visualization improved customer engagements significantly: Are you wondering how to address customer challenges and demands? Data visualization of heterogeneous data can help as it helped one of Quantzig’s clients who was facing the same issue. The client approached Quantzig to leverage its expertise in providing big data visualization solution. Quantzig’s visual analytics solution offered unparalleled visibility into heterogeneous data and enhanced customer engagement by innovating their products and analyzing their journey.

Big Data Analytics Helps a Leading Gaming Industry Client to Improve Customer Engagements

Want to know more about the benefits of data visualizations tools and techniques? Request more info

#4: Big data visualization boosted operational efficiency and on-time delivery: Analyzing real-time information in every step of the production process is not an easy task for businesses. Don’t you agree? This is where big data visualization comes to the rescue. By using big data visualization tools companies can gather actionable insights from various sources, which include social media, business transactions, and information from machine-to-machine or sensor data. Additionally, it can help in aligning business strategies and objectives and identifying industry trends and consumer buying patterns.

#5: Big data visualization enhanced product launch planning and decision making: Creating real-time data repository and reporting system is an essential component for any business for data-driven decision making. This is where big data visualization comes into the picture. It has the potential to assist in analyzing various data sources and setting up data mapping and normalization methodologies which results in better decision making and effective business planning.

Global pharma company improves product launch planning through real-time big data analytics reporting

#6: Big data visualization and master data management reduced the cost of ownership and skyrocketed profit margins: This is one of the most significant success stories of Quantzig, where the client managed to gain strategic insights into the entire manufacturing operations through real-time cost analysis dashboard. This helped them in reducing the cost of ownership and improving profit margins by 10%. Moreover, visual analytics also helped the company to seek instant feedback and pro-actively solve problems before they arise.

Global pharma company improves product launch planning through real-time big data analytics reporting

With the help of Quantzig’s predictive analytics solutions, a lot of businesses are taking improved decisions for better and profitable orders. Are you interested in our data analytics solutions? Request a FREE proposal now!

#7: Realizing savings of $12 million in 12 months with big data visualization: Do you really think consolidating large volume of data and obtaining real-time insights is a humongous task? If yes, then you must go through our latest success story where Quantzig’s big data visualization tools and predictive analytics solution helped the client to save $12 million in 12 months. With big data visualization tools, it becomes easy to gain meaningful insights for process automation and optimization. Furthermore, this helps in enhancing process coordination, determining operation requirements, planning procurement, production operations, and labor utilization which results in significant savings.

Big data analytics saves USD 12 million for industrial equipment manufacturer

#8: Big data visualization revamped decision making by predicting future network scenarios: Are your data analytics models hindering informed decision making? If yes, then you must be going wrong somewhere in assessing a plethora of data. This is clearly evident in Quantzig’s latest success story where the client was dealing with the same issue. But by utilizing big data visualization tools and predictive analytics solutions, the client was able to realize a great improvement in its decision-making process. Furthermore, these solutions paved the way for quick verification of the results of the analysis with different input parameters and make accurate predictions.

Big Data Analytics Reduces Transport Network Congestion

#9: How to create a synergy between big data visualization and human intuition? The rise in machine learning and computational power has driven the growth of big data visualization. As a result, the trend of adopting big data visualization among organizations for decision making is on the rise. However, still, many companies rely on human intuition and experience for better and effective decision making. But businesses need to realize that combining the power of big data with human intuition can unlock immense possibilities.

Creating a Synergy Between Big Data Analytics and Human Intuition

#10: Big data visualization transformed the business ecosystem: Business forecast might sound complex, but you need not worry if you have proper big data visualization tools in place. A leading financial services firm was dealing with similar predicament but experienced a significant change in their business outcome by leveraging Quantzig’s data visualization solutions. These solutions helped them to discern patterns in the extracted datasets. This enhanced transparency of the risk management process. Additionally, it helped in analyzing assets and a better understanding of idiosyncratic risk factors.

Data Visualization Best Practices | A Success Story on How it Turned Out to be a Wise Investment for a Financial Services Firm

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5 Ways Big Data and Analytics is Revolutionizing the Food Industry

The food industry is one of the most profitable sectors across the globe. However, with the increase in global competition, companies in the food industry have started facing numerous challenges such as reducing supply chain waste, optimizing supply chain efficiency, boosting sustainable growth, implementing green policies, and finding a competitive advantage. To deal with such challenges, businesses in the food industry need to focus on leveraging big data and analytics to keep close tabs on new supply chain trends and competitors’ market progress.

Inefficient supply chain leads to low-profit margins and more wastage. Furthermore, if the supply chain is not optimized, it can result in the inability to adapt quickly to a problem and can increase operational costs. Therefore, players in the food industry must leverage the benefits of technology like big data and analytics to gain better insights into the ability to track and monitor supply chain activities in real time.

At Quantzig, we understand that to ensure the efficiency and performance of your supply chains, from sourcing to manufacturing to delivery, optimization is required. And to help companies in food industry thrive in the competitive landscape, our team of experts has highlighted five ways in which big data and analytics can help companies in the food industry to become market leaders. 

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