Advanced Analytics is empowering several industries. Analytics, in its simplest form, is the analysis of data and statistics. The use of data analytics as a business tool has evolved from being used in the 19th century to initiate time management exercises and measure the speed of assembly lines in the 1960s. Today advanced data analytics is being used to provide critical business insights related to operational efficiency, customer preferences, productivity and profitability.
This insight has allowed many organisations to harness their data effectively to make informed business decisions, providing them with a competitive advantage. In this way, advanced analytics has become a key driver for performance and business success.
Advanced Analytics is being used to get more out of data
There is no doubt that analytics have become critical to success, and in many cases, advanced data analytics is considered the biggest digital asset across sectors. You may be asking why is this the case?
The simple answer is that analytics provide the key to enhanced performance and operational efficiency due to the reduced time it takes to make a quantifiable decision. In this way, the time between making a decision and seeing a result is greatly reduced.
Advanced analytics utilises the data relating to your operations, offerings, and service delivery to provide you with a deeper understanding of what is working and what is not. It allows you to predict future outcomes and trends, reduces risk and empowers you to make informed decisions.
Advanced data analytics is not just software or technology. It utilises several different methods to make these observations. These include:
- Big data analytics – big data is accelerating volumes of large data sets or information assets that come from a number of different data sources and are stored in data warehouses and databases. To utilise these large volumes of data, they need to be interpreted, leveraged and understood, which is where Advanced Analytics comes in.
- Data Mining – The purpose of data mining is to sift through large datasets to uncover patterns, trends, and other hidden insights that may not be clearly visible. This is done using machine learning and statistics.
- Predictive Analytics – Predictive analytics is an analytics tool that utilises algorithms, data mining, machine learning, artificial intelligence, and business intelligence (BI) technology to convert big data into actionable insights. This process analyses current and historical data to provide businesses with insight that is used to create new business applications, services, and product offerings, identify new trends or risks, detect factors affecting productivity and profitability and more.
- Prescriptive analytics – prescriptive analytics provides calculated steps to be taken next. This technology utilises applied statistics, deep learning, computer vision, and other advanced methods.
Advanced Analytics is being utilised to drive profitability and efficiency. This technology is fast becoming the “superpower” behind the growth across industries.
Empowering industries to get the most out of their data
Advanced data analytics is key to success as it provides invaluable insight into all aspects related to operations, efficiency, productivity, marketing, engineering, strategy and more. These analytics also play an increasingly important role in the relationship between management and strategy. The language of management is numbers and this is exactly what advanced analytics provides. Armed with the numbers, management teams are able to implement and execute strategies that lead to more profitability. Advanced Analytics can be utilised across various industries to answer several specific needs and requirements. We explore these in more detail below.
Mobile Network Operators (MNOs)
Pain point: MNOs are always looking for more intelligent and innovative ways to stay ahead of the competition and retain customers within this very saturated market.
Adapt IT Telecoms Advanced Analytics solution provides MNOs with near real-time accurate and complete information related to the monitoring and reporting of revenue, interconnect traffic between networks, churn tracking, KPI performance, and customer and market segmentation. In addition, the Advanced Analytics data model captures and audits raw information to ensure the accuracy of insights. MNOs can utilise these accurate and valuable insights to identify opportunities to improve their services and offerings, develop relevant and targeted marketing campaigns and add value to their customer base, which in turn boosts revenue.
Mobile Virtual Network Operators (MVNO)
Pain point: To gain their share of this niche market, MVNOs are looking for a differentiated value proposition based on personalised offerings that address specific customer needs and requirements.
Adapt IT Telecoms Advanced Analytics solution provides insight into what services and offerings customers are looking for, consumption patterns, churn tracking, customer behaviour, market segmentation and more. This near real-time accurate information can then be utilised to develop personalised and specific customer offerings, improve the customer and user experience, reduce costs and enhance invoice reconciliation, which is critical to reducing customer churn and boosting profitability. MVNOs exist to target a niche market. Using advanced analytics offers a unique opportunity for businesses, such as retailers, to become an MVNO themselves to extend their services and further enhance the experience of their customers.
Pain point: Financial institutions have to expand their services to stay relevant. With many turning to offer telecommunications services, such as digital payment platforms, they are adding value to their customer base. With these new service offerings also comes a need to reduce risk and track creditworthiness. Many Financial institutions are now looking for Anti-Money Laundering (AML) solutions to reduce these risks and detect and report fraud and money laundering crimes.
Adapt IT Telecoms Advanced Analytics solution provides insight into business’s critical data related to growth opportunities, new revenue streams, customer experience, service consumption and the monitoring of the customer’s overall buying behaviour. It also assists in tracking the creditworthiness of customers to reduce risk. This allows financial institutions to target market segments better and ensure that the customer experience is where it should be to retain customers. With a rise in digital financial crimes such as money laundering this solution provides an Anti-Money Laundering service to help institutions reduce the risk of these criminal behaviours and protect customers.
Internet Service Providers
Pain point: Many Internet Service Providers leverage off of their value-added offerings, especially where end-user customers are concerned. This allows them to stay ahead of their competitors in the industry.
Adapt IT Telecoms Advanced Analytics solution provides critical business insight into new growth opportunities and what value-added services their customers are looking for. This insight assists in making informed decisions related to new offerings, interconnect traffic and improvements in the customer experience.
Law Enforcement Agencies
Pain point: Increased mobile adoption and usage has not just expanded in the business world but in criminal circles as well, which poses a problem for Law Enforcement Agencies.
Adapt IT Telecoms Advanced Analytics solution provides Law Enforcement Agencies with a way to monitor illegal mobile leveraged activities across multiple network operation platforms. By utilising these analytics which provides location-based information, Anti-money laundering services, social profiling services and reporting capabilities, you can gain access to the insight needed to prevent possible criminal behaviour and enhance the safety of citizens.
Pain point: Governments are constantly looking at different ways to utilise technology to enhance operational efficiency and ensure the health as well as the safety of their citizens. Governments wish to create safe cities which utilise technology to help reduce the possibility of crime and provide a safe environment for people to live and work.
Adapt IT Telecoms Advanced Analytics solution provides Governments with a way to utilise technology to effectively track and manage situations that could impact the health and safety of their citizens. These situations include terrorist attacks, natural disasters, pandemics, traffic accidents and more. Advanced Analytics can also be used by government authorities to track illegal mobile leveraged activities and prevent crime.
Pain point: Regulatory Authorities are under pressure to ensure the competitiveness of multiple network environments. They also need to ensure that the quality of service is achieved by these networks and that compliance is adhered to in terms of fair usage policies, bandwidth utilisation and consumer value.
Adapt IT Telecoms Advanced Analytics solution provides a way for Regulatory Authorities to utilise technology to ensure compliance, fair usage, and customer value within these markets. This is achieved by implementing automated, auditable solutions that facilitate the collecting and processing of event data for auditing purposes. This ensures sector competitiveness, quality of service and compliance across service providers.
Adapt IT Telecoms Advanced Analytics Superpower
As a business, Adapt IT Telecoms understands the need for advanced Telecommunications analytics technology. Over the past 20 years, we have worked hard to consistently improve on our Advanced data analytics technology and solutions. Our innovative CDRlive platform is the result of this and has been utilised to empower several big and small businesses across industries.
At the heart of our CDRlive platform is essential business data which comes from a collection of business critical information, referred to as Call Detail Records (CDR’s). This data is enriched by data collected from business systems such as CRM, ERP, call centre management systems, payment systems etc.
Call Detail Records (CDRs) provide data regarding how users utilise their mobile services , the internet, video calls, SMS, etc. CDRs include all forms of communication transmission and provide hundreds of fields for each call record. The value of this is illustrated below:
- Billing purposes which include invoicing reconciliation and validation
- The tracking of revenue and usage as well as conducting an exploratory analysis of profitability drivers
- Identifying the risk of fraud across voice, data and digital services. Providing regulatory support, information and understanding around optimising system usage, network integration and planning
- The monitoring of network performance in almost real-time, which is utilised to ensure Service Level Agreements (SLAs) are met
- Gaining insight into customer behaviour to track, predict and reduce customer churn.
- Planning and managing the Next Best Action (NBA) from descriptive, predictive and prescriptive analytics. This provides essential information to support strategic planning and informed decision making
- Reporting related to traffic analysis and revenue generation from roaming and interconnect traffic. This assists in facility capacity planning as well as device performance analysis
- The effective tracking and management of ASPU, ARPU and mobile money
Although CDRs provide valuable data, as they stand, they do not make sense on their own as they have not been transformed into usable information or actionable insights. This is where Adapt IT’s CDRlive platform takes centre stage. CDRlive is an Artificial Intelligence (AI) ready solution that turns CDR’s into valuable insights that can be utilised to improve on all industry specific requirements related to operations, performance, offerings, service delivery and profitability.
Advanced Analytics has become a business superpower. This innovative technology allows businesses to harness important information and data relating to their operations, service delivery, offerings and more. This will enable businesses across industries to extract meaningful data and actionable insights that can be used to effectively drive success, productivity, operational efficiency and profitability.
Future-proof your Business with CDRlive
Discover how CDR is key to making effective revenue and churn decisions in the Telco industry and why call data records are the lifeblood of telecommunications.
Steven Sutherland experienced Adapt IT Divisional Executive, dynamic business leader for their Telecoms Division with a demonstrated 25-year history in the telecommunications and IoT sectors. Strong global marketing, sales, and business development professional with 15 plus years focused experience in the Southern and Rest-of-Africa markets and a unique blend of entrepreneurial spirit combined with a passion for both technology and business.
At Adapt IT Steven is responsible for building and growing the Telecoms Division on top of its industry-proven software competencies including but not limited to Customer Experience and Self Service, NextGen VAS, IoT, FINTECH, and Advanced Analytics and always looking forward to an opportunity to demonstrate the value that their 20 plus years of experience in these disciplines can bring to your business