Data, data everywhere!
So is data the new gold? No, data is fool’s gold. Data insight is pure gold. Yes you read that right.
Today, lots of data is being generated, collected, and stored from the web, online/offline purchase, online card transaction, social network, IoT/Sensor, etc. Generally, big data is not about the data size, it’s more about the value within, which is often derived using data analytics.
Telco’s have abundance access to extremely rich contextual data, primarily comprising of call detail, network and customer data, which can be spilt in real time, such as customer details including name, date and time of the call, location etc. All of this data can be used to understand customers’ behaviour and provide insights that enable more personalised services to be offered through the right channels, intelligently classifying who is likely to convert and how to contact them. According to McKinsey, companies that introduce big data and analytics into their operations show productivity rates and profitability that are 5 to 6 percent higher than their peers.
Offering a higher customer experience is a differentiator to compete in an environment where communications service providers (CSPs) generally have the same service offerings. Company solutions that have the ability to highlight what really matters in driving customer satisfaction and deliver actionable insights from the data are key differentiators for CSPs.
Here is how analytics can help Telco’s create customer delight.
- Customer experience enrichment
A business challenge of our time for most, if not all, Telco’s have boarded on some form of ‘digital transformation’ journey in recent times thus enabling automation process by using data driven advanced analytics to deliver digital age customer experience. Telco’s can make best use of analytics to enrich customer experiences via –
- Targeted marketing and personalization (customised product offerings)
- Predictive churn analytic (address ‘at risk’ customers)
- Customer journey analytic (interaction at various lifecycle stages to promote tailored offerings and campaigns)
- Proactive care (identify issues and fix it or offer a solution before it impacts the customer)
2. Human Factor
Conveying gratitude to consumers is one of the best way to break the monotony of consumer’s life. Training the customer service executives to simply greet consumers and show higher levels of fulfilment to repetitive customers to motivate them for further purchase and recommendations as well.
Based on the real-time report generated by analytics from the customers’ call data, Telco’s representatives can help in delighting customers by personally greeting and thanking consumers on calls.
According to researchers, “thanking new connections persuades them to seek a continuing relationship.” Telco’s can open doorways to establish loyalty and retain by recognising their consumers.
Intellza, the next generation analytical intelligence.
Intellza, the intelligent data platform from STL family, is a scalable data powerhouse solution offering unified data storage, integrated analytics and intelligent search abilities for simplified user experience and meaningful insights. Intellza is an AI-powered real-time personalization solution. It enables CSPs to achieve higher ARPU and CLV via contextualization without any extra spend.