Telecom operators generate a significant amount of data daily. This data, if properly utilized, can provide great insights into useful information crucial for running a business successfully and profitably. This is where big data plays the pivotal role. Big data analytics can provide useful information about valuable customer related data like usage preferences, patterns, customer habits, etc. which can be later nurtured to take path breaking business decisions.
In this article, we will cover a few cases where big data analytics is being used effectively by telecom companies across the world:
Customer retention through big data analytics
Big data is widely used a method of retaining customers. Operators take the help of competitive data analytics for customer retention and enhancement of subscriber base. They used big data analytics to come up with solutions involving technologies like HPE Vertica to identify customers who reached a certain level of usage to provide them promotions. This helps operatorsto not only retain and gain customers, it also helps the company to cope up with various regulatory barriers especially with regards to expanding business.
360 degree view of customers
Big data are widely used for understanding the customer effectively. Telecom providers often use big data to gain a 360 degree view of customers. The main intention is to modify services to delight customers by using this 360 degree view. They collect data from various information sources and combined together to improve upon communicating with customers and providing additional channels of service. Big data have enabled telecom providers to stop using traditional databases. This also enables them to launch complicated digital services in order to delight the customer further. Enterprises manage to climb higher on the customer satisfaction ladder and are able to score high in the customer retention segment as well by using big data effectively.
Optimization of market
Big data also empower telecom service providers to optimize marketing effectiveness through the use of various tools like the data of motion analytics. Service providers have now understood that consumers at the end of the day are not concerned about technology at all. All they want is fast connectivity. Therefore, they feel the need to come up with newer innovative products to keep thecustomer engaged. This is more true for extremely competitive markets where every telecom company launchesa new product every day. Telecom providers have found a way to deal with this.They are now finding new uses of existing investments and thus design new services from them. This entails combining features from one part of network infrastructure with another part of the infrastructure to create something new for customers. Through strategic partnerships, new products are being developed with a significant reductionin the product development time. Companies who are able to effectively utilize this opportunity are able to achieve a distinctive advantage over its competitors.
Using big data analytics for understanding customer behaviour
Big data analytics reveals a lot of valuable information for understanding customer behaviour. The telecom sector is a highly competitive one. Enterprises, which know their customer well are able to survive in the cut-throat competition. It is important for the telecom companies to adopt the right kind of marketing technique to claim their share in the subscriber list. Several companies have been doing this brilliantly. They have been using software services, big data analytics and various enterprise systems bring to its customers special offers which in turn have increased their brand value and reduced churn rate.
Preventing fraud using big data
The biggest telecom honchos are now using big data effectively to prevent impacts from fraud. This is being done by exploiting big data for fraud analytics. Fraud has a number of impacts on a company’s business. It can not only have a negative impact on a company’s brand, it can also affect revenue streams. A real time analysis of a telecom company’s data can reveal solutions to detect fraud.
Big data analytics are and will be of primary importance for telecom industries worldwide. Telecom providers which effectively implement big data analytics, today will stand to gain in future because competition in this market is going to get more fierce in the coming days.