Business Intelligence installed in an organization facilitates the transformation of raw data into meaningful insights. These insights are used by the organization to make decisions about spending, analyze customer behaviour, and what products are in demand. Recently, due to the development of new domains by telecommunication companies and the offer of new services, business intelligence in the telecommunication industry is more important than ever.
How BI can help the telecommunication industry?
Telecommunications companies have several business areas where BI is especially needed. Here are some of them:
QoS (quality of service). Telecommunications analytics helps to predict the possible performance of services, the most appropriate network usage patterns. Business analytics in telecommunications identifies various factors and events that can affect the quality of service for telecommunications companies and, accordingly, the quality of customer service. With BI data, telcos can dramatically improve their network operations and thus prevent customer abandonment from services by increasing customer satisfaction.
Accounting and finance. BI is needed in order to determine the direction of cash flows on a large scale, eliminate possible losses, and calculate taxes correctly.
Marketing sales. BI is needed to define service usage patterns that are actual. The use of BI also helps to understand which tariff plans and which services are popular. With BI, you can develop a strong sellable proposition that has value in the eyes of your customers.
Equipment maintenance. Participatory business intelligence technology is used for development of a maintenance and repair plan for telecommunications service provider equipment. BI can help identify potential problems, for example, in telecommunications equipment towers, and prevent them even before the delivery of the service is seriously damaged. With BI, you can monitor the workload and performance of a maintenance team.
Benefits of using business intelligence for telecommunications
There are many benefits to telecom businesses using business intelligence. In this article, we’ll look at five of these benefits:
1. Access to the information you need. The information displayed on the business intelligence dashboard helps you make an informed decision about how potential network threats are or what direction in business is right. For example, a call center manager needs to determine the number of customer service representatives who will be available during a specific time frame. Analyzing the number of incidents during the day will help the manager identify the demand for customer service and make the right decisions about the number of employees. The report will also help to detail the type of incidents and what skills they need to have. The manager can use predictive analytics that predict the possible number of calls. Dashboards enable the manager to identify long-term trends and relationships between different dimensions of the data.
2. The transparency of the data that links networks and customers. Telecom business intelligence provides a coherent and more complete view of data. Telecommunication companies provide a wide range of services and functions and with the help of business intelligence can manage and support operations, from infrastructure to business activities. Data comes from different sources, but all information is collected in one place and displayed on the dashboard.
3. Statistics and notifications in real time. Effective BI for telecom allows you to track key indicators of service reliability and availability at any time. Customer complaints can be taken into account and resolved as they arise. With a predictive model built into the telco’s dashboard, these challenges can be anticipated. This greatly improves customer satisfaction and experience. Real-time alerts also include predictive maintenance. The maintenance dashboard allows operators to monitor the entire system and receive information about potential problems. The information collected due the telecommunication software can be used for the repairing or upgrading of the telecommunications infrastructure.
4. Access to valuable opportunities. Business intelligence dashboards are great for accessing data and discovering hidden insights. Business intelligence allows users to discover new opportunities, scenarios such as a new product idea or a market gap that your company can fill. Analytics provides information on the implementation of products and services that have the greatest potential for improvement. With the help of business intelligence in telecommunications, you can easily spot new trends from which a new product can grow.
5. Customer satisfaction. With customer data and information, telecommunications organizations can do a lot to meet the needs and expectations of customers. For example, organizations can provide targeted experiences that make customers feel heard and valued. The application of business intelligence in telecommunication can help organizations focus on good customers. It will significantly increase the productivity of these companies.
These are just some reasons why organizations will benefit from the use of business intelligence in the telecommunication field. With analytics, the telecom’s industry will act confidently and quickly, making informed decisions, streamlining workflows, increasing revenues and improving customer experience.
Customized Solution Development by the company Broscorp
Broscorp offers custom-designed software that helps businesses achieve the desired results on time. For the telecommunications industry, Broscorp has extensive experience in telecommunication software development in the following areas: