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’?
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:
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:
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:
8 resources not enough for you? Head on over here to find even more relevant industry articles, blogs, webinars, eBooks and more.