1: Adopt analytics
The truth is, being clued in can get you very far. But, just possessing intelligence is not enough in today’s hyper-competitive world. You would also need to know how to make the best use of it. With artificial intelligence and machine intelligence making strides into many key industries, telcos must tap into these new ways of Knowing or be left behind. Data is everywhere today and it can get overwhelming if not properly utilized to its full potential. Managing data, storing it and using the right technology to process and derive useful insights for business growth can be immensely rewarding for telcos.
2: Embrace Agility
A cat landing right on its feet after a 10-foot fall is one of greatest wonders of the pet kingdom. For telcos, it can bring the same level of wonder if they can stay the course through the ups and downs of the industry – dealing with increasing competition, keeping up with demanding customers, innovating and bringing products to market faster. This can be achieved with rethinking software development and deployment strategies, for example, choosing a devops-based approach can drastically shorten the time-to-market while microservices architecture simplifies the software development process to a great extent.
3: Wow your customer
Lately, I’ve been fascinated with how digital native companies, the ones born and bred on a strong dose of digital platforms, are engaging their customers. Whether it is Uber, Amazon or Netflix, they all have one thing in common – they put the customer at the centre. They make the best use of technology to offer engaging, intuitive experiences to the customer, taking personalization to a whole new level. Telcos can take a leaf out of their book too and leverage technologies such as Artificial Intelligence to offer a more personalized and intuitive experience.
4: Innovate. Innovate. Innovate
Today, there is no doubt that technology is the key driver of innovation. In a world that demands a lot of our time, energy and attention, what we need is a solution to simplify. Which is why telcos can truly delight their customers if they are able to offer solutions and services that simplify their lives, for example, adopting digital on-boarding means customers never have to queue up at a branch, ever.
5: Innovate. Innovate. Innovate
So you’ve gone ahead and invested in infrastructure and technology. What’s next? An important part of going digital is the ability to make technology work for your business in an efficient manner. For instance, digital solutions offer umpteen monetisation opportunities – from location insights for targeted advertising, offering tailored choices for customers, explore use cases enabled by seamless convergence of next-gen networks and much more. With digital solutions, the monetisation possibilities are endless.
With these steps in mind, you’ll be well on your way to kick start your digital journey.