27 January, 2015
Real-Time IoT Analytics Boost Revenues For Telecoms
The churn rate in the US telecom industry was 1.28 to 2.19% in third quarter, 2014, according to Statista. When you multiply these rates against the millions of telecom subscribers, lost revenues, and the job of acquiring new customers, revenues become major issues. Churn is the primary reason why telecom companies that provide wireless and other services are looking to real-time big data analytics for a competitive edge.
“We serve telecom companies in 51 different countries around the world,” said Abhay Doshi, vice president of products and marketing for Flytxt, a big data analytics solution provider for Communication Service Providers (CSPs). The purpose is to monetize this big data intelligence in telecom up-selling and cross-selling to customers.
“A telecom has abundant customer data stored in databases that is available to it,” explained Doshi. “This data comes in the form of information that is stored in customer relationship management (CRM), billing, and order system transactional data, and it provides an excellent historical resource on customers. However, if you want to know what a customer is doing at a present point in time and you want to respond to that behavior, you need real-time, actionable data.”