By Gordon Rawling, Director of EMEA Marketing, Oracle Communications
Recent analysis from the European Commission shows that more digitised data was produced in the past two years than in all previous years combined. This explosive growth is driven by consumers adopting an expanding range of connected, data-driven devices as part of everyday life, and the pace of data generation shows no sign of slowing.
Despite the big data market growing at roughly 40% annually, relatively few leading companies in this space are based in Europe. The European Union has launched initiatives to encourage region-wide innovation in big data, and mobile network operators are particularly well positioned to capitalise on that momentum. Operators already hold extensive subscriber and network data and their customers increasingly depend on connected devices, creating a significant opportunity to lead locally and globally.
For operators, the ability to capture, process and analyse subscriber and network data presents a path to meaningful differentiation. Using analytics to understand customer behaviour and network performance can improve engagement, support better service delivery and create new revenue opportunities. In the emerging Internet of Things (IoT) landscape, operators that develop strong analytics capabilities will be able to introduce new services, deepen customer relationships and reclaim value that might otherwise flow to third-party developers.
Communications service providers must recognise that data-driven insight is fundamental to success in the digital era. Securing new revenue streams depends on real-time—or near-real-time—data collection and processing, and on translating those insights into services that meet customer expectations for reliability, flexibility and control. To achieve this, operators need robust IT architectures that can handle the scale and velocity of data produced by subscribers’ devices.
Equally important are clear, well-defined business processes. Operators must be able to interpret what each data point means for both the business and the customer, and then connect those data points into actionable insights. Analytics systems need to be process-oriented throughout: from extraction through to mining and analysis. Cloud-based solutions offer pragmatic starting points for operators seeking to deploy scalable analytics capabilities quickly and cost-effectively.
The growing variety of connected devices has shifted customer expectations for service. IoT and data-rich services have raised the bar: subscribers now expect higher levels of reliability, on-demand flexibility and fine-grained control. Data analytics enables operators to meet these demands by informing service design, automating operational responses and personalising customer experiences. Operators that move first to design and deliver such customer-centric services will not only strengthen loyalty but also open up attractive new revenue streams.
Big data is not a passing trend. At the same time, third-party developers have eroded portions of operators’ traditional market share. This makes it essential for operators to move beyond defensive, “survival mode” tactics and adopt proactive analytics strategies that position them to thrive. By investing in analytics, cloud infrastructure and process-driven systems, operators can transform their vast data assets into competitive advantage.
The quantity of available data will keep rising at an astonishing rate. Operators that lead with effective analytics strategies will be best placed to serve subscribers, create innovative services and capture new opportunities in a more competitive landscape. Those that delay risk falling behind, alienating customers and losing relevance in a market that values agility, insight and customer-centric service.