Advanced Analytics are the Future of the Telecom Industry

author: MedUX

Advanced Analytics are the Future of the Telecom Industry

Our digitized, ultra-connected world is driving the telecommunication companies to deal with large volumes of data. Companies need, more and more, to be able to take advantage of that volume and variety of information to build actionable and accurate insights to differentiate their services, solve customer problems and sell more, among other beneficial actionables.

The Big Data market size is expected to keep growing at a fast pace, the volume of data stored over the world will grow from 33 Zettabytes (ZB) in 2018 to 175 ZB by 2025.

According to MedUX CEO, Agustín Batiz, this provides more and more opportunities for telecom companies and Internet service providers to interpret massive volumes of information, find patterns beyond the raw data and translate this effort in better business and technical performance.

Source: Statista

In this regard, Advanced Analytics techniques, such as Machine Learning and Predictive Analytics, are evolving and becoming highly beneficial for the Telcom Industry by processing vast amounts of data at lower costs and efforts.

McKinsey Global Institute analysis states that the telecom sector can take advantage of data analytics for several applications:

Improve the Customer Experience

  • Individual calls to call centers could be better routed to specialized agents
  • Discovering new trends in the behaviour of end-users to avoid anomalies, mobile or fixed services outages, or poor quality
  • Better price for users, since micro-campaigns or short-term promotions could be created
  • Personalise services to build engagement with the customers.

Improve Quality of Service

  • Network performance and optimisation.
  • Differentiate the telecommunications service.

Predict churn rate

  • By obtaining better customer insights, companies would be able to identify potential churn out conditions and act in advance.

Revenue growth

  • Make good business decisions and reduce risks.
  • Differentiate the business with a competitive strategy.

Better metrics, therefore, together with Advanced Analytics, are the future of the best telecom operators!

At MedUX we go beyond QoE measurement. We predict and build user behaviour models for telecommunications services, thanks to proprietary predictive models, that help telecom companies to take advantage of the Advanced Analytics to improve their business performance by enhancing their customers’ experience.

 

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