Companies in the telecommunications industry are facing conditions that are unlike those that exist in any other sector. Consolidation is happening at a record pace, allowing businesses to instantly expand their product lines and enter new markets. And convergence strategies are emerging quickly, as carriers strive to serve as “all in one” providers, offering everything from voice and Internet, to video, data, and multi-media services.
These shifting business models have made the need for business intelligence extremely critical for telecommunications companies – perhaps more so than in any other industry today. For example, mergers and acquisitions make it quite difficult for organizations to achieve a complete view of operations and activities across the entire business. Information from fragmented systems, housed in various geographically dispersed locations, must be collected, aggregated, and formatted in order for executives to monitor key performance indicators, and departmental managers and employees to generate the types of operational reports needed to support day-to-day decision-making. Without a business intelligence solution in place, this will be nearly impossible.
Additionally, as telecommunications providers seek to expand market share and capture new audiences, customer and marketing intelligence has become more important than ever before. With a BI tool in place, these organizations have the insight they need to sell more services to more people. For example, they can analyze existing accounts to identify opportunities to up-sell and cross-sell other products from their portfolio. They can also gain greater insight into the demographics of their potential clients, so they can develop more effective and compelling campaigns and promotions. And, perhaps most importantly, they can obtain a full understanding of customer needs and wants, so they can enhance existing offerings, and develop new ones, to drive more sales.
As the telecommunication industry experiences intensifying competition and rising churn rates, firms can leverage business intelligence to boost customer service levels, thus increasing satisfaction and retention. By monitoring key performance indicators such as peak usage volumes, as well as other network activity patterns, service providers can make sure that their infrastructure is optimized to ensure maximum reliability and performance. Additionally, trends in activities such as technical support calls and call center interactions can be analyzed in detail, to assess service levels and identify – and correct – areas in which customers may not be receiving the kind of experience that is conducive to ongoing loyalty.
The ways in which telecommunications firms can benefit from business intelligence are endless. By implementing a comprehensive BI environment, and leveraging it across the organization, telecommunications firms can improve service delivery, boost sales and revenues, enhance customer loyalty, increase the efficiency of core operations, and gain a significant competitive advantage.