Big Data Analytics
Big Data Analytics Impact on Telecom Industry
The rapid rise in the use of smartphones and other connected mobile devices has triggered a spurt in the volume of data flowing through the networks of telecom operators. It is necessary that the operators process, store, and extract insights from the available data. Big Data analytics can help them increase profitability by helping optimize network usage and services, enhance customer experience, and improve security. Research has shown that the potential for telecom companies to benefit from Big Data analytics is substantial.
The potential of Big Data, however, poses a challenge: how can a company utilize data to increase revenues and profits across the value chain, spanning network operations, product development, marketing, sales, and customer service.
Big Data analytics, for instance, enables companies to predict peak network usage so that they can take measures to relieve congestion. It can also help identify customers who are most likely to have problems paying bills as well as those about to change operators, thus exacerbating churn.
Operators are usually advised against taking the usual top-down approach when it comes to Big Data analytics, which marks out the problem to be solved and then seeks out the data that may help resolve it. Instead, the operators should focus on the data itself, using it to make correlations and connections. If done correctly, the data could reveal insights that could form the basis of more streamlined operations.