Competition in telecom industry is not new. One forty years ago, Alexander Graham Bell beat Elisha Gray in a drama-of-sorts race to the U.S. Patent Office and claimed distinction for having invented the telephone. Since then, the desperation to outwit one’s rivals has become deeper, graver and, at any rate, more insidious.
In today’s dynamic world the industry has travelled a long way from a simple radio communication network to an advanced data-centric communication service provider where voice over services have taken a back seat vis-à-vis growing demand for data-intensive services such as music, video, social media and live-streaming. The plethora of data is now passing through their networks and the industry has realised the need to effectively capture and analyse such data in order to remain competitive.
The two broad classifications of data which the telecom service providers have access to are as follows:
Traditionally the transactional data has long been in use by the Industry to model churn analysis, customer segmentation and profiling. But with the increasing volume, velocity and variety of data the telecom service providers are faced with the challenge to find innovative ways to satisfy customers and this can be achieved by the intelligent use of Analytics, especially by mining the unstructured data to understand consumer sentiments to predict future outcomes and target marketing campaigns more accurately.
Coming back to the application of big data Analytics for telecos, what is surprising is that how these telecos are churning data to drive new revenue streams in a completely different industry segments. For example:
PinkBerry store launch Campaign
Frozen yogurt chain Pinkberry launched a location-based ad campaign to target consumers to visit the store. The Ad ran within the iPhone app and its showed how many miles away a user is from the Pinkberry location. When the user clicked, the landing page presented an offer along with direction map and click to call option.Today with sharp increase in online and mobile shopping with use of Apps, telecom companies have access to consumer buying behaviours and preference which are actually being used with real time geo-location and social network analysis to target consumers.
Starbucks location based Campaign
AT&T a major telecom provider in US has partnered with video marketing platforms to send personalized videos to the customers, when it bills them, and the telecom co. says more than 85% of customers who use the service have found it helpful. Several retailers are now partnering with telecom companies to offer personalized video campaigns, which has improved customer relationship and boosted their sales.
In this new landscape where companies are exploring new opportunities to target the user more correctly through use of complex technologies and algorithms, telecos are no longer a mere communication provider. Their role is now more important and certainly more indispensable for all the industries/ business who have realized the burgeoning power of data.