How Can Big Data Help Telecom Companies?
No other market can accumulate more information than through big data in telecom. Every day the amount of data it collects is simply stunning. The big data provides a depth of analytics for telecom industry, unlike any other. Here are three ways it can help telecommunication companies, in their marketing effort, their customer experience and raise their revenues.
A Gigantic Amount of Information Gathered Daily
To really understand the power of big data in telecom, you have to look into a concrete example. An operator that caters to 8 million clients usually creates about 30 million Call Data Records per day. That means it has in its possession, at the end of the year, about 11 billion records that can be studied through telecom big data analytics.
Although this data is collected and stored in-house, many telecom companies don’t fully benefit from the knowledge they can gain through telecom data analytics capacities that some external providers can bring them. Some already have staff, inside the company, to look into this gigantic amount of information. But they don’t necessarily have the tools that a specialized firm has, when it comes to crunching the numbers found inside big data in telecom industry.
How to Benefit from Big Data in Telecom?
Thanks to big data analytics for telecom, the operators can take on personalized marketing actions, in real-time, through the help of advanced analytical models. They don’t have to wait to extract and analyze the information anymore, and it makes their marketing efforts functional every day, constantly.
The big data in telecom industry provides a great depth of information on customers’ preferences. That enables the operator to proceed to cross-sell, up-sell and retention campaigns that are better aimed and provide a much higher response rate.
Big data can proceed to a customer satisfaction analysis, either personalized or globalized. It can do so through voice analysis or social media listening. Whether it looks into a specific complaint by one client or a problem that seems to come back repetitively through the network, it will provide the information necessary to adapt to the customers’ needs. Through segmentation, it can identify the most valuable clients so that they can be targeted specifically for special treatments.
Of course, such a wealth of information can be used to create new products and services, more in line with what the customers are looking for. That will increase their sales and augment their revenues. They can also decide to approach other companies for marketing partnerships, by showing them through big data analytics, the advantages of advertising through their network.
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