The growing popularity of digital technologies and advanced analytics tools have impacted business operations across industries. The telecom industry is undeniably at the epicenter of this technological disruption as such advances have not only resulted in the evolution of new business models but have made multi-device usage and multi-device viewing the norm for telecom companies. Leveraging advanced telecom analytics solutions can help businesses gain unprecedented visibility into core business processes. Apart from improving efficiency and growth, telecom analytics also helps companies to analyze real-time data sets to make fact-based decisions that propel peculiar, conclusive, and action-oriented culture across the organization.
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Four Telecom Analytics Use Cases
The Business Challenge
In today’s competitive telecom industry, staying relevant by finding new revenue sources is quite challenging owing to the dynamism in the market. Also, the growing competition and the emergence of new technologies have negatively impacted subscription rates, which in turn, has curtailed growth leading to huge revenue losses for players all over the globe. Telecom service providers also face challenges due to mergers and the need to deliver a consistent user experience across all channels. Meanwhile, new market entrants, particularly OTT service providers that deliver services over the internet are trying to grab a large chunk of market share by innovating and offering advanced services to meet the needs of their customers.
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The client, a leading telecom service provider well-known for offering advanced telecom and networking services, realized that the key to increasing sales and subscriptions rates is to focus on reducing fraud through better risk management. This prompted the telecom company to leverage telecom analytics solutions to undertake a digital transformation to achieve its business goals. They approached Quantzig to leverage its telecom analytics capabilities such as ad hoc querying, multidimensional analysis, telecom data mining, forecasting, and optimization to gain deeper insights into core operations, internal processes, and telecom market trends.
Solutions Offered and Value Delivered
The client’s primary objective was to reduce the total cost of operations (TCO) while maintaining the quality of its services (QoS) using telecom analytics. To help them achieve their objectives, our telecom analytics experts proposed a comprehensive three-pronged approach that focused on devising an implementation approach, setting up scalable processes, and progress and innovation.
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Telecom analytics also empowered the client to:
- Witness a 30% reduction in TCO
- Improve the efficiency of business operations by 3x
- Standardize business processes while maintaining QoS
- Leverage advanced telecom analytics for monitoring key performance metrics
- Identify new up-selling and cross-selling opportunities
- Improve customer experience through process standardization
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Top 4 Mind-boggling Trends Disrupting the Telecom Industry in 2019 & Beyond
Telecom Analytics: Understanding the Transformative Nature of Analytics in the Telecommunication Sector
Over the last 25 years, the Indian telecom sector has emerged as one of the leading potential markets globally and has witnessed rapid growth. There have been dramatic changes in the telecom industry in India in the last few years. The two major factors behind setting the stage right for the evolution of this sector are technological innovations and regulatory changes. The telecom industry in India was liberalized in 1994, with the advent of the National Telecommunications Policy or NTP. The deregulation and liberalization of the telecom industry in India have led to its spectacular success. But with success comes responsibilities and with responsibility comes challenges. So, there are lots of challenges which the telecom industry in India is facing, especially with the advent of trends like digitization. A few noteworthy ones include:
Key Challenges Faced by the Telecom Industry in India
Adapting to technology
The mobile operators need a spectrum to provide access to enhance performance but it is a scarce resource. As compared to other countries, in India, the amount of spectrum available for commercial use is quite low. The practice of the government to auction spectrum at an exorbitant cost makes it difficult for mobile operators to provide services at a lower price and at reasonable speeds. This discourages adoption and usage. However, the launch of Jio has helped to some extent to overcome this challenge. But there is a long way to go.
Lack of automation
Sales teams in the telecom industry in India continue to rely on largely manual processes to collect intelligence on prospects. This process needs automation since it’ll provide intelligence in real time. Without this information, teams may expand sales and resources in competitive markets where termination would not be effective, locations where serviceability is not aligned, or may not participate in the market until it is too late.
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There is a need to make more and more content available in all the regional languages. Additionally, the content should be focused on addressing local problems. Today, mostly the content that is available on the Internet is in English, which is still spoken by a small fraction of the people in India. The experience of using the internet or browsing is not a pleasant one on the small screens of a mobile phone. So, mostly the usage is restricted to chatting on applications such as WhatsApp and playing games. However, reading documents on mobile phones is still difficult. Therefore, it is highly unlikely that mobile phones will completely be able to replace laptops, desktops, and tablets. This is one of the major challenges facing the telecom industry in India.
What the Client Wanted
Effectively allocate their marketing spend by optimizing marketing strategies.
The solutions offered by the experts at Quantzig enabled the client to quantify the impact of their marketing inputs on their overall market share. This engagement entailed the implementation of a robust marketing mix model to help the telecom industry client understand the impact of marketing inputs on sale.
Overview of the Telecom Industry
The dynamic and competitive nature of the telecom industry signifies that it is headed for a big shake-up. In the long run, telecom industry players are expected to witness new challenges and threats to telecom longevity. Moreover, the rapidly changing telecom industry landscape has given rise to new technologies and industry standards. Whether big or small, telecommunication is an essential factor in business operations. The telecom industry is further broken down into two subsegments, which includes wireless telecom services and diversified telecom services. Wireless telecom service providers are those firms that offer cell phone services; whereas, diversified telecom services include providers of both wired and wireless integrated telecom services.
However, players in the telecom industry are currently witnessing several challenges, it includes- the dynamic nature of the mobile industry, compliance and regulatory issues, and security of data being transferred over the network. It is essential for players to tackle such challenges whilst staying abreast of the telecom industry trends. Therefore, to stay afloat telecom industry, companies must adapt to such changes and invest in developing sustainable solutions that support technical innovations and consumer preferences.
Telecom Industry Challenges:
- A drastic decline in voice revenue: With rapid changes in the way people communicate, text and VoIP are now dominating the telecom industry. As a result, voice traffic has decreased drastically over the years, leading to a sharp drop in voice revenue. Therefore, to gain a competitive edge, telecom industry players must focus on providing value-added services to retain their clientele.
- The impact of IoT: The evolution of IoT based smart devices has resulted in a massive growth in the connected devices sector. This is, in turn, is generating trillions of new data sets which ultimately has to be handled by the network service providers and telecom industry players.
About the Client:
A telecom industry major, offering personalized telecom services to players across industrial segments.
To estimate the impact of their marketing efforts, the client – a telecom industry major – approached Quantzig. The client wanted to leverage Quantzig’s vast experience in telecom analytics to their benefit and devise an effective marketing mix model to better understand the impact of their marketing campaigns across their business units.
Benefits of our telecom analytics solution
To gain in-depth insights into our telecom analytics solutions
With the help of Quantzig’s vast expertise in telecom analytics, the telecom industry client wanted to gauge the effectiveness of their current marketing mix model and gain comprehensive insights into ways to enhance their strategies. The solutions offered by our telecom analytics experts also assisted the telecom industry client to enhance brand value and awareness by persuading customers to upgrade to their services. This also enabled them to devise audience archetypes and establish greater control over the existing customer base.
Marketing Mix Solution Insights
The marketing mix solutions offered enabled the client to enhance their ability to quantify marketing effectiveness with regards to – ROI, incremental sales, and other such contributions. A detailed review of their marketing mix model and techniques also enabled them to stay up-to-date with the changing market trends. Furthermore, with the help of marketing mix solutions, the client was able to cut down on their marketing dollars by optimizing their campaigns.
To know more about how our marketing mix solution helped the telecom industry client
What the Client Wanted
Deploy customer churn analytics-based solutions to study and capitalize on customer behavior.
Leveraging customer churn analytics helped the client to identify the drivers that contributed to customer churn. This engagement entailed the implementation of analytics-based solutions to scrutinize, understand, and capitalize on customer behavior. It even enabled them to develop a customer churn model that precisely tracks deviations in customer behavior.
Overview of the Telecom Industry
Data and analytics are key factors that have transformed many industries globally. It not only acts as a tool to cut down costs and enhance customer experience but also helps drive future growth. Also, digitization has played a major role in improvising business functions across industries and the telecom industry is no exception. In fact, it enables organizations to reimagine their business functions and systems, and future-proof their businesses to withstand the growing competitive pressure.
Moreover, the growing need to deliver a superior customer experience has proven to be a critical driver for telecom analytics in the telecom industry. Telecom analytics enable telecom firms to understand the modern customer’s needs and help personalize services in real-time.
However, to gain a stronger foothold in the industry, telcos have to focus on providing holistic services. Implementing innovative market trends helps leverage the efficiency of services. Quantzig’s customer churn analytics is one such solution that aims to change the way the telecom industry functions.
Telecom Industry Challenges
- Ongoing regulations in the telecom industry: Telecom industry players have been facing many regulatory challenges owing to the complexity of the surrounding environment. Leading telecom firms have also started embracing such regulatory pushes to turn them into customer-focused benefits.
- Offering personalized customer experiences: Enhancing customer experience is the key to improve brand loyalty and profit margins. To do so, telecom companies need to gain detailed insights into the customer’s journey and understand the various aspects affecting their behavior.
About the Client
A leading player in the telecom industry.
To identify customer behavioral patterns and develop a reusable customer churn model, the client – a leading telecom client – approached Quantzig. The client wanted to leverage Quantzig’s vast experience in customer churn analytics to their benefit and gain actionable insights to capitalize on customer behavior.
Benefits our customer churn analytics engagement
To gain in-depth insights into our customer analytics solution
Quantzig’s customer churn analytics solution helped the client to develop a reusable churn model based on the customer’s behavioral pattern. The customer churn model benefitted the client in numerous ways and enabled them to take proactive measures to reduce customer churn. It also assisted the telecom industry client to devise and test the churn score and key drivers based on each customer’s propensity to churn.
Customer Analytics Solution Insights
Customer analytics is gaining extensive applicability in a number of industry domains and are poised to witness wide-spread adoption in the coming years. Also, with the innumerable challenges that have unfolded in today’s rapidly changing telecom landscape, it becomes crucial for telcos to predict customer churn and devise appropriate telecom analytics based business models that offer real-time insights into customer behavior.
To know more about the benefits of devising an effective customer churn model
What the Client Wanted
Wanted to foster long-lasting customer relationships.
Leveraged salesforce analytics and aggregated data from several platforms to help the telecom services provider to gain a blended view of their business.
Summary of the Telecom Services Industry
Technological developments in the global telecom industry take place at an astounding rate. Telecom services providing companies are always at the receiving end of various technological innovations and customer’s demands. Nevertheless, it can be said that the telecom industry is sitting on a goldmine of opportunities waiting to be explored. However, harnessing data is a major concern for players in this sector, owing to the abundance of data sources – location logs from towers, event logs, call details from network switches, and IDS/IPS alarm.
To process the data faster, telecom services providers will have to leverage advanced data analytics solutions that would help them help them to achieve accurate and timely insights. Telecom analytics ensures that the providers of telecom services have the right solution in place, which can help them harness the huge volumes of data and gain meaningful insights from them. The proliferation of technology over the last few years has made it essential to extract maximum insights from data-rich repositories to gain a competitive edge.
Telecom Services Industry Challenges
- The decline in voice revenue: The medium of communication has changed over the years. Initially, text messages and voice used to dominate the telecom industry, people now prefer VoIP and internet messaging. This has negatively impacted the revenue growth in the telecom sector, compelling companies offering telecom services to identify additional revenue sources.
- Interpreting the needs of customers: Inability to understand and predict customer preferences can be attributed to a poorly defined growth agenda. It is essential to enhance customer relationships by understanding their requirements and catering to their needs.
About the Client
A telecom industry major offering telecom services including – network services, fixed-data services, voice services, and mobile services.
To benefit from new types of revenue and ensure customer loyalty, the telecom services provider approached Quantzig to leverage salesforce analytics. The main objective of the engagement was to leverage knowledge from customer data that can help enhance customer relationships. It included datasets from several sources. Furthermore, with the help of salesforce analytics, the client wanted to offer meaningful services to their customers at various stages of their journey.
Summary of our salesforce analytics engagement
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With the help of Quantzig’s salesforce analytics solution, the telecom client enhanced their profit margins by better connecting with their customers. It enabled the client to identify essential opportunities to optimize costs across the value chain. Moreover, implementing telecom analytics offered enhanced visibility into the core operations, market conditions, and internal operations. Also, salesforce analytics helped in the identification of hidden data patterns, customer behaviors, and relationships, which subsequently assisted the client in enhancing their business strategies.
Salesforce Analytics Solution Predictive Insights
Quantzig’s salesforce analytics solutions help anticipate customer demands to offer personalized services at significant stages of the customer’s journey. In order to capitalize on this potential, telecom industry firms have to integrate telecom analytics and build their competencies to maximize their benefits. Salesforce analytics also helps companies to devise enhanced strategies to continuously engage customers.
To know more about the benefits of salesforce analytics for the telecom industry
Client: A leading telecom industry company
Area of engagement: Supply chain analytics
The global telecom industry is continually transforming due to the ongoing developments and innovations. 5G trials and its deployment in the market will be a key focus in the years to come. As a result, carriers are expected to strive towards enhancing their network and offering extended services to their customers by network densification and making use of small cells. Installing more fiber infrastructure and improving spectrum efficiency will also be the target for carriers in the telecom industry space. Factors such as intense market competition, advanced technology, and high investments in new telecommunication technologies such as wireless communication and satellite will aid in the growth of the market over the next couple of years.
However, our analysis of the recent telecom industry trends shows that the telecom industry players are facing challenges in terms of:
- Privacy and security issues: Telecom industry service providers maintain a vast repository of sensitive information and personal data. They are always under threat and vulnerable to hacking. This has forced government bodies to create regulations regarding user data protection. As a result, telecom industry players are always on the lookout for state-of-the-art security frameworks and third-party organizations.
- Development of 5G: The development of 5G is in the pipeline and is expected to be available to the public by 2020. The development goes beyond bandwidth and data speed to improve latency issues and provide a unique browsing experience. The most significant challenge facing telecom industry is that non-telecom companies are also trying to force their way into this technology. Moreover, numerous players in the telecom industry space are still catching up on the 4G technology as they are stuck with 2G and 3G technologies.
Many such factors are compelling telecom sector players to leverage the use of supply chain analytics solutions. Supply chain analytics solutions help companies to reduce additional costs associated with product transport and improve the overall supply chain performance. These solutions also help firms identify the latest telecom industry trends, refine their existing business models, and increase the overall supply chain efficiency.
The Business Challenge
The client, a leading telecom services provider specializing in advance wireless communication technology, wanted to improve their logistics plans to curtail the risks associated with supply chain complexity and disruptions. The client also wanted to gain better visibility into the costs involved in the supply chain and reduce their expenditure.
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The Solution and the Business Impact
With the help of Quantzig’s supply chain analytics solution, the client accurately identified the latest telecom industry trends, demand signals, and boosted their supply chain efficiency. Additionally, the client able to streamline their supply chain processes and consequently improve lead times and performance. This helped them cater to the needs of the customers.
Supply Chain Analytics Solution Insights
Quantzig’s supply chain analytics solutions help companies anticipate the impact of current and future telecom industry trends and accordingly manage demand signals more accurately. Companies can also better organize functional silos such as planning, sourcing, production, and delivery across their business units and reduce inventory levels.
To know more about how our supply chain analytics help companies identify the impact of key telecom industry trends