As an industry that runs on very thin profit margins, even slight improvements in efficiency can go a long way in helping the bottom line for telecom firms. Intensifying competition requires that firms invest their time, money and efforts into having a rich understanding of their network and customers. Moreover, infrastructure and business systems need to be made more dynamic in order to adapt to the evolving online and mobile environment.
In several telecom firms, huge amounts of data generated from millions of customers are dispersed across multiple data sources -with each business unit and product lines having their own set of data.
Business Intelligence systems help telecom firms to integrate data from multiple sources, refine data and provide an in-depth understanding into their network, customers and operations. An integrated data warehouse, good analytic capabilities and better visualization of data can help telecom firms in:
A single view of customers across product lines, purchasing channels and business units can help telecom firms build a coherent view which in turn helps them to not just understand the demographics but also to provides insights into their customer's personalities and behavioural patterns.
This deeper understanding can help firms differentiate their customers in a better way, making segmentation all the more enhanced.
Companies can never really know for certain about the future, but a scientific analysis of past patterns can help firms predict the probability of future occurrences of similar scenarios. Firms can utilize this knowledge to take precautionary steps in preventing unfavourable scenarios as well as in customizing their approach towards segments of customers.
A deeper understanding of their customers and communication networks help telecom firms make informed decisions with regards to their expansion plans and marketing strategies. A better understanding of which strategies offer a better bang for their buck can help them in better budgeting and enhanced ARPUs thereby directly affecting the bottom line.
Deploying new network infrastructure is an enormously expensive proposition. Therefore, analyzing networks thoroughly for expansion becomes absolutely critical for telecom firms. BI tools allow telecom firms to:
Customer Churn is a real problem faced by all telecom firms. Retaining customers at minimal costs and maximizing revenue from each customer directly impacts the bottom line. But a lack of clear understanding of customer needs and behaviours leads to firms often coming up with undifferentiated renewal and retention offers. Better analytics helps telecom firms:
Cross-selling and up-selling directly increase the ARPU and helps telecom firms enhance overall customer experience. But siloed data and separate data sources often leaves firms with little understanding on the actual needs of their customers and their social networks. A merged clean data source and good analytic capabilities can help firms: