Data Science is all the buzz right now, and companies from various industries worldwide have begun to ride the data wave. One sector that can benefit immensely from data-driven work is the telecommunication industry. Telco’s owing to the nature of their work are able to accumulate significant amounts of data. Given that these companies offer a wide variety of services to their customers, the data they generate is of sizable depth and breadth. By using this data, these brands can bolster various aspects of their business.
Augmenting Customer Experience:
One of the areas where data analytics can significantly improve Telco’s lives is in customer experience. As mentioned previously, these companies can amass large amounts of data, and a good portion of this data is of the customer level. By analyzing this rich data, these companies can identify which strategies customers respond to the most. Furthermore, data can also help determine which segments of the customer base react well to the brand’s products. Knowing which customers add the most value to a business can prove vital in designing effective product rollout strategies. Another area of customer experience that data analytics can improve is self-service. Using information obtained from data analysis, companies can create better self-service systems that can more effectively cater to customers. Additionally, using data can also help these companies identify the most “at-risk” customers and design policies that will reduce customer churn. This process is only available through the use of data and will take too much time otherwise, which leads to customer loss.
Network Optimization:
Apart from Customer Experience, another aspect of Telco’s that can massively benefit from data analytics is network optimization. These companies provide their services to millions of customers, and identifying problem areas in the network’s infrastructure can be difficult. Often it takes quite a bit of time before the source of the problem is localized, which only adds to the time taken for the problem’s resolution. Using network-level data, companies can quickly identify potential problem areas in their networks, which allows for quick resolutions of these problems. Not only does this save time and man-hours for the operator it also improves customer service.
New Revenue Opportunities:
In addition to network optimization, data analytics can prove to be beneficial for Telcos in generating new business. Digital Marketing campaigns often make use of targeted ad campaigns that are designed based on extensive data analysis. Having customer-level data is a precious commodity for any marketing agency and one they would gladly pay for. This puts these brands in a unique position to utilize their database in creating new data-based products and services that they can then sell to various marketing agencies to generate additional revenue. Implementing data analytics in telecommunication while beneficial, can prove to be a challenging task. The large volume of data presents fresh challenges that require the help of experts. Many companies now specialize in providing this expertise to Telco’s, and one example is that of Mulberry Analytics.
Mulberry Analytics:
Mulberry Analytics has a team of dedicated and talented data analysts who can work with data on any level. The insights that this team can gather from their analysis are of great value to the client as it enables the optimization of various aspects of the client’s business. From improving customer experience to attracting new customers, there are multiple benefits that these insights can provide. Telcos gather large volumes of data, and often, it is the case that traditional data analysis methods do not apply to high concentrations of data. Having the capability to analyze this data and extract valuable information from it is something the team at Mulberry excels at.
