People are increasingly relying on technology to stay connected with the world at large. This means there’s significant opportunity for telecommunications companies looking to provide this connectivity to customers. But, while there’s ample opportunity to succeed, it’s also true every organization is looking to gain the edge in a saturated marketplace.
Turning a profit in such a competitive industry requires telecom businesses to operate as efficiently as possible while doing everything in their power to boost revenue. Telecom data analytics can help.
Search- and AI-Driven Data Analytics in Telecom
The latest wave of data analytics for the telecom industry makes insights fast, accessible and easy to use.
There’s search-driven analytics, which allow users to ask questions of data and receive answers in seconds. Relational search takes about the same amount of effort as typing a query into your favorite online search engine.
There’s also AI-driven analytics, which sends insight-detection algorithms deep into stored data to uncover trends, anomalies and causal relationships. In other words, SpotIQ answers questions that haven’t even been asked yet.
Gaining Better Customer Insights
High rates of customer churn continue to be a thorn in the side of telecoms companies. But what if companies could better understand the factors that affect customers’ decisions to join, stay and leave? Using these data analytics tools, employees can gain clearer insight into customer demographics, behavior, spending habits, technology usage, devices, locations, etc.
The result? Organizations can improve targeting for offers and segmentation for marketing. They can understand patterns in customer lifecycle, the first step in increasing loyalty and reducing churn.
ThoughtSpot in Action: Telecom Data Analytics Use Cases
One Fortune 500 telecom company expects to reduce churn by 17 percent with marketing and customer analytics from ThoughtSpot. With accessible data analytics tools, the Chief Marketing Officer and brand managers are able to get instant insight into campaign performance and churn by week.
Allconnect, another company in the telecommunications sphere, uses ThoughtSpot to give its customer support team instant access to customer and product data. This enables team members to provide speedier, more complete support when it counts.
Long story short: Access to the latest telecom data analytics helps companies minimize inefficiencies and maximize revenue—a recipe for driving profitability.
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