By: Anna Tyschenko

Telcos able to transform numbers into valuable insights are halfway down the road to success. According to IDC’s projection, worldwide data is expected to reach one trillion gigabytes by 2025. Organizations must implement data-driven philosophies on a strategic level to win. It’s easier said than done, however, and calls for significant changes. Let’s see what it takes and how it can affect digital transformation. Keep reading.

Why are Data-driven Decisions Essential for Telcos in 2024?

The year 2024 might cause a fundamental shift in the technological world, making data a pushing element. Foremost, data-driven decisions can help distill vast amounts of information into correct choices. Having powerful analytic tools and methodologies opens the gates to comprehensive client understanding and allows enterprises to respond to obstacles and leverage operations effectively.

Being armed with data-driven insights helps to detect network failures, diminish their negative impact, and reduce downtime. Also, should there be any equipment issues, it helps to identify them before they become expensive problems. From a customer service perspective, data driven insights and analytics enable the tailoring of offers to individual needs for an enhanced customer experience.

Data Analytics and Predictive Analytics as Catalysts

Making data-driven decisions inevitably means applying both data and predictive analytics. By looking at user past behaviors, historical data allows businesses to identify trends, patterns, and insights to guide them in their strategic planning.

Predictive analytics, however, takes it a step forward, employing additional statistical models and system analyses to prognosticate future outcomes. Making use of data from this angle enables firms to predict shifts in consumer and industry trends. It reveals potential risks, enabling bold yet informed decisions.

Top Benefits of Data-driven Decisions for Telcos

Personalized approach: Decisions based on advanced data analytics facilitate the offering of custom proposals to clients. Instead of simply looking at standard points, e.g., age, gender, and demographics, telcos have additional data resources available, such as browser history and call records. According to the numbers, firms that invest in personalization might get over 40 percent return in revenue.

Faster rollout of relevant services: Big Data helps with faster and more efficient analysis of incoming data, which allows for detecting individual patterns for customer behavior and preference analysis. Owning this information helps a company prepare new releases swiftly and with better confidence and quality. There’s also no need to spend extra time and resources on advance testing or trials of the service or product. It allows faster rollout while helping to improve existing services and products.

Optimized workflow: According to Dell’s Big Data stats, 85 percent of telcos point to network optimization as a top priority for the industry. The analysis of information that comes from user devices or network equipment helps detect where data flow is interrupted. Clearing the way for efficient load balancing commits to even distribution. As a result, using these insights significantly improves the dependability and effectiveness of telecom services.

Swift adoption of innovation: Receiving information from diverse sources can help companies create innovative products and services. To advance in these innovation efforts, 60 percent of organizations apply data analytics. Using those insights to guide service or product development also helps businesses improve their performance and provide the right solutions for their customers.

Competitive edge: Staying ahead of competitors plays a crucial role for telcos and data analysis plays a major role in their doing so. By drawing out requisite numbers and implementing data-driven decisions, an organization can gain a significant competitive advantage.

How Telcos Should Process Data to Make it a Driver of their DX

Data is money in the digital world. The digital transformation won’t succeed if the right infrastructure is not there to facilitate its transmission and storage. To keep up with growing demand and needs, telcos should guarantee omnichannel internet connectivity by constructing gigabit roads and high-speed infrastructure. Transition toward a data-powered digital transformation allows telcos to make accurate, data-driven choices in areas like customer service, sales, and marketing. But to do it right a few things should be considered.

Investments in data management infrastructure: The telecommunications landscape is dynamic. Organizations doing business there should be ready for rapid changes and continuous development of their core structure to handle the non-stop growing number of connected devices. More than a hundred new gadgets connect to the internet every second! With so many devices plugged in and the diversity of data they generate, modern infrastructure is a must. However, it’s not only about costs; telcos that enable vast data flows through their systems have an opportunity to develop them as an income source.