Think about it: Around the world, billions of people surf, send messages and media files, and use data around the clock, every day—whether it’s through the smartphones, cell phones, or tablets they carry with them everywhere; the laptop or desktop at home or at work; or another type of smart, connected device. According to DOMO, over 2.5 quintillion bytes of data are generated every single day, and that number is on the rise.
Sure, that’s a lot of bits and bytes, but more than that, it’s data—data about where people are, what they’re searching for, where they’re spending their money, whom they’re communicating with, and so much more. In other words, the telecom giants enabling all of these communications, interactions, and transactions are sitting on an invaluable trove of information.
It only makes sense, then, to try to parse and understand that data in order to gain insights.
That’s where telecom analytics comes in.
Telecom analytics encompasses a variety of approaches and sophisticated technologies—including machine learning, deep neural networks, forecasting and optimization, and predictive and descriptive modeling—but ultimately it translates the tremendous banks of data collected by organizations like telecommunications companies into trends and actionable findings. For example, with telecom analytics, companies can zero in on inefficiencies and take action to reduce operational costs, identify patterns in user behavior and direct efforts there to maximize profits, or determine weaknesses, reduce fraud, and improve risk management.
In today’s day and age, collecting and understanding data, especially in the world of telecom, isn’t a privilege; it’s a must—part of the territory, even. Analytics, therefore, doesn’t just make data digestible. With impacts such as offering personalized customer experiences, segmentation of one, predicting and reducing churn, and more, analytics turns data into gold.
Telecommunication companies have a tremendous advantage in that they’re sitting on a treasure trove of information. It’s up to them, however, to seize that advantage by finding the tools that will turn their data into business intelligence. Necto Telecom by Panorama, is the first and only data analytics solution that was specifically developed for telecom. With telecom specific data models and out-of-the-box reports and dashboards, Necto Telecom helps communications and media service providers turn their data into actionable business insights that drive higher ARPU, customer lifetime value and retention.
In a world in which data is the game, there’s no doubt that analytics is the game changer.
Schedule a demo to learn more about Necto Telecom and how it can be a game changer in your digital transformation journey.