“Telecommunication operators that get [digitisation and analytics] right both get ahead of customer requirements and drive a 30 to 50 percent cash-flow improvement through revenue acceleration and cost optimization.” [McKinsey, 2019]
Telecom companies generate unparalleled quantities of data. By 2050, they will be gathering data from 95% of the world’s population thanks to mobile devices, wearable tech and wireless information. But compared to the GAFA firms, they fall a long way short in terms of how they use this data to maximise value.
In 2021, data will be the key to optimising network performance, building the business case of 5G roll out and prioritising target audiences. And with customers paying 140% more for optimised experiences, it’s also a way to drive revenue returns via monetisation and reduced churn.
Despite this, 28% say their customer data is inaccurate and only 51% say it is clean enough to be usable. With 2021 expected to be a challenging year for Telecoms firms – 5G roll out, customer experience pressures and a recession – how can you ensure every drop of data is used to empower your companies’ decisions?