Just a year ago, Comptel was discussing data as the new oil – touting the message that the key to future communications service provider (CSP) revenue is tapping into the information at their fingertips to better understand their customers. At this year’s Comptel User Group, CEO Juhani Hintikka took this a step further, explaining that it’s also about making data beautiful.
In his keynote presentation to customers, partners and industry analysts, Juhani examined the key factors impacting today’s telecommunications landscape. These included efficiently employing assets, monetising data services, differentiating with personalised customer information and driving contextual intelligence for meaningful actions. However, as famous hockey player (or as Juhani put it, the famous philosopher) Wayne Gretzky said: “A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be.” The same is true for the telecommunications industry – we need to increasingly predict what is important to customers rather than simply reacting.
So how do you know where the puck will be? Analytics can play a key role. For instance, Comptel’s analytics product has been over 80% accurate with results but, as Juhani stressed, this is only valuable if CSPs take action based on these insights – this can be anything from provisioning to targeted campaigns or beyond. They must capitalise on the opportunity to understand the uniqueness of each customer or circumstance and convert that into actionable intelligence.
Ultimately, contextual intelligence is about getting the basics right for profitability, churn reduction, and an increase in wallet share and brand recognition. And as the amount of data continues to increase, problems will likely arise. But if the telecommunications industry can embrace this approach aided by an event-analysis-action strategic framework to get the most value possible out of that data, the opportunity will only be that much bigger. If we can accomplish this, like Juhani stated, let the data grow…we can and will ultimately achieve the goal of making data beautiful.