Data Driven Telco - Industry Report
Telecom companies generate unparalleled quantities of data. By 2050, they will be gathering data from 95% of the world’s population thanks to mobile devices, wearable tech and wireless information. But compared to Google, Apple, Facebook and Amazon, they fall a long way short in terms of how they use this data to maximise value.
Data Driven Telco Strategies
In 2021, data will be the key to optimising network performance, building the business case of 5G roll out and prioritising target audiences. And with customers paying 140% more for optimised experiences, it’s also a way to drive revenue returns via monetisation and reduced churn.
Despite this, 28% say their customer data is inaccurate and only 51% say it is clean enough to be usable. With 2021 expected to be a challenging year for Telecoms firms – 5G roll out, customer experience pressures and a recession – how can you ensure every drop of data is used to empower your company’s decisions?
What is the biggest barrier to being a data-driven Telco?
In 2021, what is the top data-related priority for Telcos?
What is the first step to become a data driven Telco in 2021?
Mobile operators are now managing 10 times more data than they did 5 years ago. The burning question is whether the Telecom industry is ready to handle such large numbers? We asked our contributors about the biggest obstacles they have faced when trying to capitalise on this vast pool of data.
With great data comes great responsibility. The contributors expressed their concerns around the extensive ramifications of violating data regulation in 2021. Not only is it hugely damaging to an organisation’s reputation, but it is expensive too. As the room for error diminishes, the adjustments needed for Telco providers will be significant given that sensitive customer data forms the backbone of their core operations.
To ensure full compliance whilst interacting with data, Telecom providers must comprehensively re-examine and assess the way they collect, store, and analyse their consumer’s data. As Telcos rapidly accelerate their plans to become data-driven, they must not overlook the extensive diligence required around data compliance.
This report will focus on telecommunication operators who get [digitization and analytics] right, get ahead of customer requirements and drive a 30 to 50 percent cash-flow improvement through revenue acceleration and cost optimization.