Integrated into an increasingly global and competitive market, where costumer´s complexity and demands are watchwords, companies need quickly to have all the information they need to make the best decisions and create a greater competitive advantage against competition.
This environment of change has also brought to the Telecommunications, Media & Entertainment sector a growing consumer interest in the digital channel. In a world where people are constantly connected, the behaviours in social networks, the call records, or for instance, history of consulted websites, produce a huge amount of data and making an efficient use of this information, becomes indispensable to a proper costumers and investors’ expectations management, allowing to identify and concentrate the company’s activity in the business processes, which truly can bring added value to those processes and simultaneously promote its growth and adaptability generating the expected financial return.
Hereupon, there is no doubt that Analytics and Big Data Solutions can provide Telecommunications, Media & Entertainment companies, a set of useful and reliable insights to integrate new sources and identify new business opportunities. Also, with efficient data analysis companies can add value to their business, improving customer service, streamlining processes and improving its performance in general. A thorough analysis of customer data enables companies to know in detail their costumers, have access key KPIs in real-time, automate tasks, reduce costs, improve profits and boost sales of new products and services.
Particularly, in the Telecommunications, Media & Entertainment sector, “churn” is constant since it affects directly the organization’s competitiveness. The volatile market, price wars and costumer knowledge, are now, factors that contribute to costumers’ loyalty rates being a continued concern within national and international companies. According to a research from Mckinsey and Company, scan customer services, can increase clients’ satisfaction by 33% while at the same time, can reduce the costs until 35%.
Through a large number of generated Data, companies can segment their customers and potential customers, to have a personalised offer that matches their needs. Therefore, Telco Operators can develop targeted campaigns and improving their service, capturing new audiences and reducing abandon rates, even as achieving greater customer satisfaction and increased profit margins. Particularly because customer retention is one of the Telco Operators main challenges, a predictive analysis together with Machine Learning can generate advantageous insights for companies to identify the customers with bigger probability to dropout. It should also be noted that the advertising market has fallen (having adapted new processes) and its consumption has undergone major changes. As such it is imperative to improve both results, at the audience level and revenue level, and here, without a doubt, the technological solutions also make an essential contribution.
Moreover, by being able to optimize costs, Telecommunications, Media & Entertainment companies can optimize the processes and generate the highest ROI in the several communications channels. Data Analysis is still used to detect fraudulent activity an act promptly to minimize loss and damage.
Some benefits of using Analytics and Big Data solutions:
- Distribution channels monitorization to increase profit.
- Greater knowledge about the company’s customer, which helps to create a more personalised offering and boosts the revenue by reducing dropout rates.
- Tasks optimization, reducing costs and increasing efficiency.
- Dashboards automatically updated with the main KPIs that allows better business decisions.
- Monitoring and management of networks in real-time to prevent promptly networks problems.
- Predicting the return on investment in advertising new products and services.
- Dashboards and detailed reports regarding sales and marketing campaigns impact.
- Monitoring and comments analysis, sharing and activities in social media, to evaluate the impact and the relationship of the brand with the public.
- Monitoring customer information to detect behaviour patterns and needs.
- Timely prevention of fraudulent activities and threats.
Considering the constant pressure for companies in the Telecommunications, Media & Entertainment sector to become more profitable, they need to have at their service, powerful analytics solutions to help them to make smart decisions that can boost business.
Is your company already working according to the latest technological trends? Have you ever imagined how efficient you could be if you were doing it already?