In the last decade the
telecom industry has experienced a data explosion thanks to the increase in
subscription and voice data records, wireless information, geo-location
details, social media and data usage by customers and service providers.
The complicated world
of telecommunications analytics is nothing new and telcos have been long term
pioneers of big data techniques which began with the building of call detail
record (CDR) data warehouses. This data was used to better understand customer usage
patterns and make data-driven decisions about how to package subscriptions and
packages, cross and upsell add on services and options, and reduce customer
churn.
Everyone understands
that making sense of big data is the key to winning the battle for customers.
Data analytics can deliver powerful insights into what customers want to
achieve at every touch-point (channel), make it possible for organisations to
maintain traction on customers as they migrate between touch-points, and
support the generation of content and promotions that are personalized and
highly relevant to customers.
But the big data
challenge is set to get even bigger. Catalogs with tens of thousands of
product variations are becoming the rule rather than the exception as
telcos develop and manage ever more sophisticated and complex service
bundles that incorporate devices, voice and data plans alongside subscriptions
to gaming, live TV, film, music and video content providers.
What’s more, the
proliferation of data sources and types means data no longer fits into neat
easy-to- consume structures. Today’s omni-channel telcos enterprises need
to be able to handle content, physical data points, processes, inventory,
search, streaming data, social, text, mobile, web and more. All of which
requires real-time data capture and analysis.
Master data management
capabilities are now a ‘must have’ if telcos are to leverage their
transactional, operational and customer behavior intelligence to the max.
Having data readily accessible so analytics can run in real or near-real time
is critical to enabling intelligence-driven merchandising and the delivery of a
highly personalized experience that stays relevant as customers move between
channels.
Get ready for next
generation digital commerce
At the end of the day
delivering an enriched customer experience – regardless of channel – is a
primary goal and big data, when effectively managed, can power personalization
engines to deliver better and more relevant content that helps move customers
along the buying cycle to transact and convert.
Understanding and visualizing
how customers migrate between touch-points, and what they expect to do (and
achieve) at every touch-point makes it possible to give customers ‘what they
want, when they want it’. Delivering a unified and enriched customer experience
may also include delivering richer and more consistent product information,
seamless transaction capabilities across every channel, and options to access
the entire product range regardless of channel; for example by providing
in-store kiosks that give customers the option of ordering catalogue items
currently not available or stocked in store.
Utilising this
intelligence, telcos can deliver loyalty offers that reduce the risk
of customer churn, stimulate demand – for example, by offering high data
consuming subscribers additional value-add services – and minimise the risk of
failing to capitalise on opportunities by redirecting customers to the
appropriate channel or storefront for their immediate requirements.
Achieving all this
depends on next generation digital commerce platforms that make it possible to
implement personalisation rules based on an individual’s behaviours and
engagement preferences, generating product recommendations and self-care
options that are relevant and appropriate to the immediate engagement
encounter. All of this will depend on the ability to connect events captured on
the network (usage behaviour) with other behaviours, such as topping up a
prepaid account or purchasing a new SIM at the individual customer level.
Recognising and responding
to these ‘key moments’ is decisive; creating a ‘brand for life’ long tail
relationship with subscribers depends on a telcos’ ability to match
relevant service bundles and options with consumer profiles at critical
break/renew time points. In other words, achieving retention goals will depend
on the ability to provide timely and relevant supported selling and appropriate
recommendations in real-time.
For more details please
visit www.urssystems.com
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