According to a study, the number of global smartphone users will reach a whopping 2.87 billion by 2020, up from 2.32 billion in 2017. This boom in the Telecom industryand the trends this fact highlights include a subtle hint at the amount of data Telecom companies will have access to in the near future. When the truth dawns upon Telecom companies that they have data of humongous size by their side, organizations will begin to experiment and analyze their Big Data in a bid to create operational and fundamental changes in the way the Telecom industry operates.
With the rapid expansion of other mobile devices, Telecom businesses will have to strive to find out innovative ways to store, process, and derive value out of the diverse volume of data they have. Telecom businesses will then leverage Data lakes to house their data unless it is deemed fit for use, data analytics to drive their operations, and deliver exceptional customer experiences through changes in the way the industry operates.
Putting Data To Use: Big Data for Advancing Telecommunications
Here are a few use-cases of Big Data in the Telecom sector-
Data-Driven Decisions – When a Telecom company will think about making integral decisions about changes in its products or services, it will turn towards its data. With the massive amount of data available with the Telecom businesses, they will be in a better position to tailor their services to exceed their customers’ expectations. With real-time data analytics, Telecom companies will assess their customers’ behaviors and buying patterns and will do more of what works for their buyers. With this shift from product-centric updates to customer-centric updates in services, Telecom businesses can be sure of earning their customers’ loyalty.
Comprehensive Customer View – With the right data in their hands, Telecom businesses will be able to classify and segment their customer base to cater to each segment individually. With a comprehensive customer view that will include the customers’ data about their demographics, sentiments, calling-circle, network usage patterns, customer service feedback, historical usage data, etc., Telecom companies will better position themselves in the market to drive their services for the specific segments they want to target. By doing this, a level of personalization in delivering services can be achieved, leading to customer satisfaction and customer retention.
Unified Operations – With Big Data and Analytics, multiple clusters and sources of data storage can be unified and brought under one umbrella. By doing this, Telecom companies can enable their applications and services to consume data in a uniform manner. Unification and integration of various data segments will also allow organizations to focus on security perspectives with a single point under study. Ensuring security of data will become easier than if the data was present at multiple locations and used in a diversified manner. Additionally, the reliability and availability of data will enhance when there is one single database, no matter how huge, that needs to be replicated in its entirety or partly.
Ramp up Efficiency – Through Big Data and Analytics, the data from today’s trends can be contrasted against their historical counterparts to learn about the change that is happening on an industry-wide basis. By knowing this, Telecom companies will be able to predict the future trends and be future-ready with their plans to cater to the rising, or falling demands for their services and products. Determining patterns in the customer demands and predicting the behavior of consumers can be made possible only by putting the right data through the churning mill and deriving valuable insights. When Telecom majors can predict the demand for a service well in advance, they will be able to deliver those services when the market boosts, realizing efficiency and productivity in delivering services.
Geo-Data and its Benefits – Geo-data is the buzzword that is driving change in the Telecom sector. The data in a geo-dataset describes the information about the customers according to their location or region. Essentially, it is the location of the hardware that is specified in the data. A large pool of such data that includes the geographical location of the customers alongside their interests and buying habits, etc., can be leveraged by Telecom companies to chalk out actionable from the data for their marketing and sales strategies.
Through Big Data and Analysis of data, mightier targets can be achieved with ease. The Telecom sector is booming in the data space, and companies are moving at a rapid pace towards realizing the potential of data in improving their operations, processes, customer experiences, etc.
Customer relationships begin with the data that a company has. By analyzing the data for several factors and parameters, businesses can provide excellent services to their customers- be it personalized recommendations, before-time field service management, or any other aspect of customer satisfaction.
At FieldEZ, we realize that the Telecom sector is one of the many industries that thrive on on-field services. When talking about the latest trends and developments in this space, it is important to make sure these trends are implemented through reliable field services for Telecom.
When a Telecom company tries to expand its reach, there comes the need for the installation of Telecom infrastructure. For the efficient and hassle-free management of this cumbersome task, a field services management software such as the one provided by FieldEZ can reduce the risks of failure and eliminate any chances of delay in laying out the infrastructure, etc.
https://www.fieldez.com/wp-content/uploads/2018/02/Telecommunication_banner.png381533fieldez-adminhttps://www.fieldez.com/wp-content/uploads/2020/02/FieldEZ-Logo.pngfieldez-admin2018-05-21 11:30:452018-05-21 11:31:06The Future Is Here: Big Data in The Telecom Industry
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