We have said it before, and we will say it again, data and analytics are a Telcos biggest asset, especially if those analytics are available in real-time. Near real-time analytics provide Telcos with complete visibility across business operations while providing the insight needed to make effective business decisions fast. Near real-time analytics plays such an essential role in the Telco business that we would even describe it as a Telco superpower.
Overview of near real-time analytics
To understand the value of near real-time analytics as a Telco business asset, we need to understand what near real-time analytics are. In simple terms, near real-time analytics refers to no delay in the ability to do analytics from ingested data. In this way essential data is captured, stored, organised and analysed to provide actionable analytics and insights.
Within the telecommunication industry, these analytics can provide valuable insights into elements related to customer behaviour, operations, productivity, services and more, almost immediately or very quickly as it enters the system.
There are two specific kinds of near real-time analytics:
- On-demand real-time analytics – these analytical systems wait for users to request a query and then delivers the results.
- Continuous real-time analytics – this analytical system is considered to be a more proactive approach as it alerts Telcos to certain events or trigger responses as they happen.
You may be wondering why this adds such value, and the answer lies in the ability to gain insight into critical business operations to react without delay. In this way, Telcos will be able to identify opportunities for improvements and also prevent any problems before they happen.
The importance of near real-time analytics and what makes it so crucial
From the above, it is clear that near real-time analytics play an important role in helping a Telco business ensure responsiveness. The value of these analytics extends far beyond this and are crucial to the overall success and profitability of the Telco business. This is a bold statement, but we stand by it, and this is why.
With access to near real-time analytics, a Telco can gain insight into elements that impact their overall business. This includes insight into customer churn, customer behaviour, dropped calls, service delivery, call quality, what services and offerings are most popular, customer needs and more. A Telco can then react quickly, detect and respond to customer behavior and take advantage of growth opportunities as well as prevent problems before they arise.
Near real-time analytics also allows a Telco to prepare their business for the future by examining historical and current data to identify trends and forecast different business expectations. They help mitigate risk by using the data to predict outcomes and develop solutions to any potential problems or issues.
Armed with this information, a Telco can make informed operational, product and service-related decisions to enhance profitability, improve customer experience and increase revenue.
4 Essential benefits of near real-time analytics for Telcos
Above, we have briefly touched on several benefits that near real-time analytics offers Telcos. We examine these in more detail below.
- Enhanced visibility – with near real-time analytics, you can get a full view of all information related to the Telco business and its customers. This provides complete transparency across all business elements and enables you to quickly identify opportunities for improvement, issues or problems.
- Monitoring customer behaviour – The most significant benefit of near real-time analytics is the ability to monitor customer behaviour. With this insight, you can better target different customer segments and create personalised services and offerings that meet their unique needs. This could assist in developing new revenue streams, reducing customer churn and increasing overall productivity.
- Effective decision-making – they say knowledge is power, and in this case, data is power. With near real-time data, you can make informed decisions fast. There is no guesswork because you have the most current and available information needed to make the best business decisions in front of you.
- Improved competitiveness – in a market as competitive as the telecommunications industry, you want to take every opportunity to set yourself apart from competitors. Near real-time analytics does this by allowing you to identify trends and performance benchmarks faster than competitors and put measures in place to meet these needs.
Near real-time analytics and CDRlive
Above we have discussed how essential near real-time analytics are for Telcos but now let’s examine how Telcos can gain access to near real-time analytics. Near real-time analytics are often enabled by a software solution or system, one such solution is Adapt IT Telecom’s innovative CDRlive platform.
This platform converts data, which for Telcos is in the form of Call Data Records (CDRs), into actionable and valuable insights that the business can utilise in near real-time. CDRs provide data relating to how users use a phone system, the internet, video calls, SMS, etc. CDRs provide hundreds of fields for each call record and information related to each call type. CDRs may also include other forms of communication transmission information.
This data as it stands is unstructured but by using Artificial Intelligence and machine learning, this technology turns the CDR data into understandable and valuable insights. This near real-time data is clean, cataloged and reliable which makes it perfect for reporting and technical and analytical data exploration.
The data is then transformed into analytics which are presented on an easy-to-interpret dashboard, showcasing the relevant information needed to make informed business decisions. Additionally, the real-data analytics and insights can be customised to meet the Telcos unique business needs and objectives.
What makes this technology so innovative is its ability to ensure the data’s completeness, accuracy, consistency, availability, validity, integrity, security, and timeliness. These elements are what make up the full spectrum of actionable and good-quality data.
Armed with these near real-time analytics, a Telco can improve operations, performance, offerings, service delivery, and profitability.
Near real-time analytics continues to play an essential role in helping Telcos make informed decisions relating to business operations, customer needs, and products and services. The value of this kind of insight lies in its ability to enhance the overall profitability of a Telco business by identifying opportunities for improvement, trends, benchmarks, and problems before they can negatively affect a business. For a Telco to take full advantage of near real-time analytics, they need the right technology in place, such as the Adapt IT Telecoms CDRlive platform. As a Telco, it is important to ask, are you taking full advantage of near real-time analytics, or are you letting this superpower go to waste? To find out more about our CDRlive technology, download the whitepaper here.
Explore the Power of CDR
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