Niometrics, a network analytics company that specializes in deep tech solutions for telco carriers, published a study on unlocking the vast business potential and numerous data monetization opportunities for telco carriers in the Asia Pacific (APAC).
In view of the expected explosive growth of data traffic over the next five years, the study conducted by IDC reveals how data generated by telco carriers — including demographics and personal information, app and content usage, subscription details and preference and location details — can be leveraged, with the right analytical tools, to drive the business value of telco carriers and organizations outside the telco.
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The study highlights the roadblocks that telco carriers in Asia/Pacific face in deriving true value from their data, due to their lack of right tools and the siloed nature of their organizations. The study also surfaces telco carriers’ lack of focus on data monetization — with only 10% treating it as a priority and data as a competitive asset.
”Telco carriers that leverage data monetization opportunities with the right analytical tools can rise above the competition,” said Kostas Anagnostakis, founder and CEOof Niometrics. “With the amount and variety of data at their fingertips, there is so much opportunity to do more and do better for customers, and with that, strike a competitive advantage. This is especially crucial in an era where superior network performance and customer experience are listed as the top telco carrier selection criterion for organizations in Asia/Pacific, with 41% of customers shown to have switched carriers due to dissatisfaction in performance”.
Amid intensifying competition in the business landscape, customer requirements are playing a pivotal role in shaping telco carriers’ business strategies as carriers strive to match customer demands. The study uncovers higher speeds, higher mobile data quota, real-time control oversubscribed services and a better QoS as common customer demands which can be further segmented into preferences for on-demand video, audio streaming, email, and social media, and varied speed when in different locations or when using different apps.
A robust network analytics solution is strategically identified as the enabler for telco carriers to extract hyper-granular data insights for both internal and external data monetization opportunities. With in-depth customer understanding, telco carriers are able to offer personalized subscriber offerings that enhance customer experiences including time-based, location-based and application-based plans amongst others, as well as create new, segmented and targeted revenue streams, both internally and with external parties.