Only 15% Of TELCOs Acknowledge Having Found “Actionable Insights” In Their Data
Since 200 there has been a change in the telecommunications sector. Tough competition has led to a significant reduction in ARPU, particularly in Europe. Moreover with the entry of OTT players, companies which emerged from under the umbrella of technical revolution, data- driven and with strong orientation to customer experience, the situation worsens. However the sector still requires high investments from year to year.
This reduction in ARPU makes simplicity and efficiency two key elements for any telecommunications operator. In depth transformation is being undertaken to obtain competitive advantages based on the data which the operators have of their clients .This transformation is carried out on two main axes; to improve efficiency and save costs in the face of downward revenue and to improve customer experience to meet the challenges of the new OTT.
The development of tools for Big Data Analytics which has been taking place in the last decade has allowed to process great volumes of data from very different sources, apply complex analytical models and obtain information that has, till now, remained hidden for the company.
10 Improvements Which Every Marketing Manager Should Obtain With Their Data
Improve each customer’s ARPU:
1. Increase customer awareness with information from any area of the company.
2. Improve the quality of up-sell and cross- sell customer campaigns thanks to better knowledge of customer needs. This can increase sales and reduce campaign costs.
3. Predict the best offer for each customer.
Improve customer experience and satisfaction:
4. Encourage the use of services with specific actions for each customer in order to improve satisfaction and churn.
5. Determine the experience of each customer so as to identify the areas of improvement that the customers really demand and adapt to the standards that the data – driven competitors have introduced in the market.
6. Improve customer interactions, particularly customer care, optimizing processes and providing more information to agents.
7. Automatic resolution of incidents with improvements in diagnostics thanks to greater customer information.
8. Increase proactivity in customer care by identifying the patterns which allow us to act on customer problems before they contact us.
9. Determine patterns and trends in the use of services to identify the improvements the operator must make in its infrastructure, to adapt to the demand.
10. Identify clients at risk of churn in order to act preventively with the best solution for each one.
Technology Is Ready : The Time Has Come To Improve With Data
Over the past years operators have started the first analytical projects. Studies show that less than 40% of operators have incorporated new data ( internal or external ) into their decision making processes and that a mere 15% acknowledge having gained ‘’actionable insights’’.
Without doubt, once the analytical tools gain the necessary degree of maturity, something that’s already here, the next step operators must address is the incorporation of these insights into their processes and systems.The results of the analytical models have enormous value which must be integrated into the management of the business. Only with this integration of analytics will operators really be able to improve their business numbers and make a relevant leap.
The Near Future: New Revenue Streams
There still lies a challenge ahead, which is only beginning to be defined, the new El Dorado for operators: the monetization of data which operators have of their customers. Telecommunications and Banking are the two most likely sectors to have a greater variety and quality of their customer’s data. However the formulae to generate new streams of income are yet to be found.
The coming years will bring forth an exciting transformation of operators into data-driven companies.