CenturyLink, Verizon, others sharpen their data analytics skills
The use of telecom analytics is becoming a bigger factor in the wireline segment of the telecom industry as service providers look to retain their customer base and get a better handle on their specific usage behaviors and preferences. We discuss this trend in our new eBook: Dissecting Telco Customer Data Analytics.
Data analytics has a bright future. According to various analyst estimates, it will become a $5.4 billion revenue market by the end of 2019.
While definitions and the use of telecom analytics vary, the overall benefits include improved visibility into core operations, internal processes and market conditions, as well as a better understanding of trends and establishing forecasts.
There are three complementary sub components that make up the broader telecom analytics ecosystem: big data, customer experience management (CEM) and privacy. However compelling these tools are, most service providers are still in the discovery phase with data analytics.
A key challenge is understanding what to do with the overwhelming amount of data that they have to collect on their customers and their assets.
One service provider that's making use out of big data is CenturyLink (NYSE: CTL). The service provider has adopted a big data strategy that is centered on collecting customer data, sales and provisioning.
Through this process, the 100-year old telco can turn its data into actionable ways to reduce churn, seek out new revenue streams and optimize capital investments such as extending fiber to new buildings.