Monday, 25 September 2017

Operational efficiency,better monetisation of data are main telecom priorities

Experian
Monday 18 August 14

An international survey of leading executives in the Telecoms industry conducted by Experian, the global information services company, has revealed that the need for more operational efficiency and data monetisation are two of the most significant challenges facing the telecoms sector, while improving the quality of decision making and reaching the right customers is considered crucial for success in 2014…

An international survey of leading executives in the Telecoms industry conducted by Experian, the global information services company, has revealed that the need for more operational efficiency and data monetisation are two of the most significant challenges facing the telecoms sector, while improving the quality of decision making and reaching the right customers is considered crucial for success in 2014.

The survey was conducted amongst 80 senior executives in 40 telecommunications companies across Europe, the United States and Russia . Executives were asked to provide insight into the most pressing issues. A similar survey was conducted one year ago and the results have been compared to identify key trends and issues affecting telecommunication companies over time.
The main findings from the survey include:
• The number of respondents citing the need for better operational efficiency rose by 186% compared with 2013, while data monetisation as a major priority for telecoms operators has increased by 40% year on year.

• When asked what would provide the most benefit to their business, 36% felt that improving the quality of decision making was vital, while almost a third (28%) believe that obtaining a single view of their customers is critical, a rise of 27% on 2013.

• Almost half of all respondents (48%) agreed that in order to deliver an outstanding multi-channel experience to customers, it was essential to understand which customers wanted to be engaged with and when. Almost a quarter (24%) thought having the right technology in place to enable reaching customers across a number of channels was more important.

• When asked what benefit analytics could best deliver to telecommunications companies, the overwhelming majority (72%) said it could help organisations identify the right customers for their business.


Commenting on the results, Ian Terblanche, Director of Telecoms & Utilities, Experian, said: "Using the right data and analytics lies at the very heart of many of the challenges identified in this survey. Telco firms operate in an environment where expectations are high, decisions need to be instant and there is little room for mistakes. Increasingly customers expect to be recognised by their service providers and in many cases want a more personalised service.
“The priority for the telecoms industry is to transform its data into intelligent decisions that improve business performance and, at the same time, make for a much better customer experience.”


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