Big Data And The Telecom Industry
We are progressing towards an era of information which can and must be converted into real-time actionable acumen, to enable companies to respond in real-time to behavioural changes in the customer mindset or to swiftly respond to threats from market competition. This is exactly where big data solutions for telecom and its analysis can win the battle against traditional BI tools.
Meanwhile, telecom companies are unaware of big data challenges in telecom industry and the volume of data which, on proper analysis, can provide deeper insights into customer behaviour, preferences, interests, and service usage patterns. This is what big data analytics in the telecom industry is all about.
With the increasing adoption of smartphones and the growth of mobile internet, telcos today have access to exceptional amounts of data sources, including customer profiles, device data, network data, customer usage patterns, location data, apps downloaded, etc. All this data combined becomes big data in telecom.
Big data has the potential to place telcos in a position to win the battle to earn more customers and create new revenue streams. It provides them with a wealth of information about their customers' behaviours, preferences, and movements. Yet, many telcos still struggle to fully derive the greatest value from big data.
How much can companies in the telecommunications industry benefit from big data? That's a critical question. Most operators conduct analytic programs that enable them to use their internal data and boost the efficiency of their networks and drive profitability with some success. The potential of big data also comes with the challenge of combining larger amounts of information to increase revenues and profits across the entire telecom value chain - from network operations to product development, marketing, sales, and customer service.
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