Telecommunication companies can no longer afford to NOT make use of their Big Data. Just a simple Google search for “Telecommunications Big Data Analytics” turns up a measly 2 million+ results.
But interest in — and getting value from — are two very different things. In fact, in this month’s McKinsey Quarterly, they dropped a sobering statistic from some of their recent survey of 273 global telecom companies: “When we plotted the performance figures for the 80 companies (exhibit), we found that in a few of them, big data had a sizable impact on profits, exceeding 10 percent. Many had incremental profits of 0 to 5 percent, and a few experienced negative returns.”
But, before you navigate away thinking it’s simply hype, you have to consider the ‘why’. “Most of the latter blame the poor quality of their data and a shortfall of talent for their inability to scale up big data activities. We also found that many organizations manage big data at a level too low to make it a strategic priority.”
So the question becomes, what can you learn from those who are ‘doing it right’?
Prove the Business Value: Get to Know the Use Cases
There’s nothing quite as motivating as hearing what your competitors are up to, and they $$ saved or $$ they earned. Right? Telecommunication companies are using big data to do things like:
- Understand the potential of new product offerings
- Improve customer experiences
- Reduce service truck rolls while improving customer service
- Forecast network capacity and demand faster and more accurately
- Implement value-based network capacity planning
- Reduce customer churn
How? Learn from those who went before you. So, without further ado, 8 resources for you on how telecommunication comapanies are using big data to their advantage, ripe for your bookmarking:
- Opportunities in Telecom Sector Arising From Big Data – Deloitte
- Monetizing Big Data at Telecom Service Providers – Tech Alpha Hadoop Summit Slides
- How Rogers Communications is Using Big Data for a 360-degree Customer View – Hortonworks
- Top 6 Telecommunications Big Data Use Cases – Datameer
- Big Data Use Cases for Telcos – Cloudera
- Big Data and Apache Hadoop for Telecommunications – MapR
- Benefitting from Big Data: A New Approach for the Telecom Industry – PWC
- 6 Telecom Analytics White Papers Worth The Read – RCRWireless
Thinking Outside the Box: Big Data for Organizational Agility
One last bit of food for thought. Last year, Ernst & Young published their study, “Global telecommunications study: navigating the road to 2020“. In it, participants were asked what actions they wanted to take to boost their organizational agility. “Improve big data & analytics capabilities” ranked number four, with nearly 40% of respondents selecting it as priority. However, interestingly, nearly every other option in that question can actually be achieved with big data analytics. Take a look:
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