Leveraging 5G and Big Data Analytics to Increase Revenue

By Telecom Tech Outlook | Tuesday, December 10, 2019

The telecommunication industry has been part of some of the most significant breakthroughs in technology. From wired telegraphs crossing oceans to reach its destination to the invention of the telephone, from the globally interlinking internet to the ubiquitous mobile phone, the telecommunication industry has always stood and delivered the demands of the times

Fremont, CA: The growth of any industry is driven by innovation and technology, and one sector that cannot afford to ignore these is telecommunications. Staying connected is of utmost importance to businesses as well as individuals, and telecommunication companies have to remain at par with the cutting edge technology to make this happen. The telecommunication industry has been part of some of the most significant breakthroughs in technology. From wired telegraphs crossing oceans to reach its destination to the invention of the telephone, from the globally interlinking internet to the ubiquitous mobile phone, the telecommunication industry has always stood and delivered the demands of the times.

Everybody wants to be connected, and communications service providers strive hard to make their service the most preferred in the market. The companies operate in a highly competitive market, where all companies operate based on the same technology. These companies rely heavily on marketing strategies as the underlying technology is the same for all companies. This means there is cut-throat competition in the market, and companies need to stay highly alert to ensure they make no errors because switching network providers can be as easy as changing to SIM 2 from SIM 1 on your mobile phone.

Maintaining profitability is highly crucial to communication service providers. This can be a complicated process when the market is already saturated based on technology. As a result, these companies rely heavily on the reduction of operational costs. However, managing operational expenses can only have a 20 percent potential positive impact on a company's bottom line. Most telecom companies fail to realize the undervalued asset they are built upon, data. Information on usage patterns, interests and preferences, purchase and customer experience histories, demographic and socio-economic data, and the like present new opportunities and openings for companies, can all be used to build a business model that can sustain profitability and enhance growth at the same time.

Despite being the key to profitability, the collected data can be challenging as there is often too much data. The large quantity of data needs to be processed, and the required data needs to be identified. This is where Big Data technology steps in. The challenge represented in such situations also becomes an opportunity to make more revenue. With the advent of 5G telecom, companies have a new asset at their disposal, which, if utilized properly, can open up massive opportunities. The new technology holds the potential to alter the makeup of the current market share significantly.    

Not all companies can afford to hire new people to sit and look through large amounts of data. Technologies like machine learning and artificial intelligence come into play here. These technologies are driven by algorithms that can be altered to meet your needs and demands. Moreover, these technologies are becoming increasingly popular among organizations, and many experts have deemed these technologies to become the future of doing business. Well established companies like IBM offer AI codes which is readily available for use. Also, newer and more agile companies have joined the race to exploit the breakthroughs in machine learning, which specializes in Big Data analytics by applying advanced artificial intelligence techniques to the real-time behavioral analysis of mobile subscribers.

Also see:- Top Telecom Technology Solution Companies