At the centre of a spiderweb, a Telco company typically collates call and billing information, customer behavioural insight, information derived from customer interaction on social networks and of course data produced by devices.
The problem is that often these data bundles are collected, stored and sorted in silos by different teams across the business. At best this creates inefficiency and at worst an inability to take advantage of the overarching insight that integrated data sets can provide to help inform solutions to business challenges.
Bespoke Data Analysis
Shaping a bespoke integrated data analysis tool that offers real-time information is key for all Telco industry leaders who seek truthful and reliable insight to inform strategic decision making that enhances the bottom line. Integrated data analytics can help operators understand the customer better, tailor services and improve customer satisfaction and ultimately optimise business efficiency.
Our team of brilliant data analytics experts explain the 3 big ways in which the Telco industry stands to benefit by leveraging big data.
1. Understanding the customer.
This is of course key to providing tailored services that meet the needs of the customer.
The first task is to shape the data to create customer profiles using information gathered for example, from devices, typical usage and location.
Analysis of these customer profiles enables grouping according to similarity. Observations focused on customer sentiment, click stream and churn help with this process. Grouping customers means that a personalised approach can be developed for each set and of course, an organisation’s most valuable customers can be easily identified.
2. Tailoring services for the customer.
Having identified customer groups, Telco companies can begin to create, tailor and target services from a customer-centric perspective. This helps to improve customer experience and satisfaction and in turn, strengthen the relationship.
Creating KPI’s that are centered around customer experience can help Telco’s refine service delivery performance. Big data analytics solutions can provide essential insight into network operations, traffic or call routing for example.
Creating offers that are tailored to customer groups helps Telco’s provide their customer with the services they need at the time they need it. Big data solutions create opportunities to proactively reach out to customers to offer products and cross-sell services - which all benefits the bottom line.
A strong customer relationship is central to building loyalty and retention as well as expanding your customer base. Detailed analytics can be used to predict churn – giving Telco providers a chance to examine and predict customer decision making and behavioural patterns in advance. This enables companies to make strategic decisions that places customer satisfaction at the heart of the matter.
3. Optimising business efficiency.
Executives in the Telco industry have distinct opportunities to realise significant cost savings by employing data analytics to streamline service operations – both internally from a network perspective and externally, on the customer front.
Refinement of network operations can be guided by data analysis in many ways. Commissioning live updates on network performance, securing insight to guide workflow and allocating resources to high-value areas are all potential routes towards data-led streamlining of operations. Cost savings and improved service levels lead directly from this kind of refinement.
Customer operations efficiencies can be realised through analysis of the customer life cycle which enables increased accuracy in marketing strategies. By assessing effectiveness of marketing spend across channels, ROI can be enhanced by zeroing in on the most productive communications channels.
Evolve or Die
Quite simply, big data adoption is an evolve or die scenario. Organisations recognise the business benefits of quality data analysis and are forging ahead. The 2017 Big Data Analytics Market Study reports that 44% of businesses in Asia Pacific confirm adoption of big data analytics and nearly all respondents say they “may use big data in the future”.
The temptation invariably, is to implement data analytics across the spectrum - such are the possibilities for improvements. However, narrowing down key KPI targets to begin with is the ideal place to start a controlled and well thought through process of embedding analytics-driven decision making within an organisation.
Request a free demonstration to find out more about how we can help create bespoke integrated analytics tools for your organisation.
