How Can Additional Benefits and Analytics Help Telcos to Succeed in the Market
By Telecom Tech Outlook | Friday, September 20, 2019
Leveraging data analytics to evaluate and envisage the trends seems to be a convenient path to stay ahead of the upgrades in the marketplace.
FREMONT, CA: In the last few years, the telecom industry went aboard upon a significant path of growth. The total number of value-added services (VAS) and individual subscriptions all over the world nearly doubled the existing statistics. The credit goes to the live evolution of 5G, along with advances in IoT, Artificial Intelligence (AI), and cloud computing. The escalation has led the industry to accumulate a massive amount of data, and a few of them have not utilized the benefits of monetizing the information, which is at their disposal.
In the information and communication technology (ICT) value chain, telcos hold a unique place. To plan a holiday in today’s time includes using a smartphone for different tasks like booking flights and hotels, and searching for places to explore. Every activity collects a generation of diverse data, which is used by the telecom industry. Nonetheless, a complex ecosystem of challenges is protecting telcos from thriving internal and external data monetization.
After facing the growing pressure in their top-line business, telcos can utilize the internal data for monetization and bring a calculated advantage in resolving the business issues. Apart from understanding the revenue trends precisely and gaining clear insight into customer preferences, data analytics can also deal with numerous business concerns. In the same way, external monetization opens the closed doors for telcos in the industry’s vertical range.
To rightfully stick to the market, telcos need to stay ahead on the trends that can help in providing opportunities. Being one of the significant offerings of telecom, messaging (SMS) has served as a platform to many other new-age applications running on the web.
The power of data analytics acts as strategic support and continues to invest in advanced data technologies. The returns for data analytics investments by telcos stand unverified, particularly on an incremental basis. It is because they view the tech as an asset but leave behind a wide gap in the path of reaching the business goals.
Domain-driven analytics is the solution that can help in staying ahead of the competition in the market and increasing the revenue. A domain-driven analytics solution realizes the needs of telcos that are operating in various regions with different market conditions. By analyzing the existing data sets, domain-driven analytics can change the current statistics into a better future possibility.