As the telecom industry gears for another year of cut-throat competition, technology enhancements have become a necessity to enhance revenues as well as subscriber base. In India there are around 9 major operators vying for a market share of the 950 million subscriber base approximately. Moreover with stringent regulations being implemented operators are looking forward to alternative sources for reducing operational cost. Campaign Management is one such area which has emerged as a tool for efficiency for the operators.
Telecom operators have a wide range of products and services, multiple verticals and different solutions for postpaid/ prepaid subscribers with the necessity to maintain all such services seamlessly and efficiently. These services and offerings not only have to be in-line with the mindset of the end consumer but also have to be contemporary. Along with the existing offerings, seasonal campaigns have to be run to maintain high interactivity amongst the consumers.
The challenge here is to create a mechanism of building awareness amongst the targeted subscriber base and then to create customized and targeted campaigns for the subscribers. These usually vary with reference to circles, regions, age segment etc. Campaign Management is a tool which can not only create such campaigns based on target segments but also effectively manage the campaign and provide data analytics for the operator in real-time.
Usually operators end up spending more on promotions that offer very little Return on Investment, as they fail to reach the right set of customers who are interested in a particular product/service. There is thus a lack of efficiency in managing these campaigns in terms of relevance of the promotion. Targeted promotions are recommended since they reach out to certain audiences, who just need a little push, such as a money-saving deal, in order to purchase a product/service. Such promotions also enhance customer stickiness by introducing new products/services for the customer to experience and get accustomed with. Hence, Telecom operators need a data driven campaign management tool that can gather subscribers’ usage intelligence and create specific targeted campaigns accordingly for competitive edge and to improve Key Performance Indicators.
The industry today needs an end-to-end campaign management tool which efficiently manages the campaign right from the Recommendation -> Creation -> Delivery -> Reporting. It is a comprehensive embodiment of Business Intelligence, Execution, Provisioning, Analysis, Tracking and Reporting. The tool brings one-stop solution capability for Telecom Operators, looking to design and execute campaigns, which can significantly improve their revenues and profitability. It comes pre-integrated with standard interfaces and also has a drag and drop style service creation environment to integrate with new nodes easily. This tool will enable operators in reaching the right kind of customers using optimal communication channels, like SMS, Voice, USSD, Web and WAP, with personalized and focused targeted campaigns thereby improving customer experience, usage and hence profitability.
The tool transforms ‘Customer Footprints’ within the network into relevant marketing information by means of classification and segmentation, to make the right decisions at the right time. Based on the identified segments and analysis of the available data, the recommendation engine suggests the best campaigns using data mining & predictive analytics, to suit their customers’ needs and behavior. In this way, the platform integrates with various network nodes to pull the logs and transaction data, analyzes the customer behavior to offer the right kind of products/services.
The Business Intelligence module has all the ingredients to help Telecom Operators to map potential users and offer promotions, which not only helps retain customers but also convert the dormant customers to active service users, which in turn helps enhance revenues. It has a comprehensive reporting platform and dashboard for the marketing executives to track the Key Performance Indicators and make the appropriate business decisions.
Going forward data analytics will play a major role for the Indian Telecom Industry. More and more data consumption on mobile phones and price hikes from operators are likely to lead to decision making through data analytics in large way. Data analytics and campaign analytics is likely to drive the next set of price points as well as revenue growth for the Indian telecom industry.
Key Benefits of Business Analytics in the Business World
According to a recent press release, “Quantzig, a global analytics solutions provider, has announced the completion of their latest article on the key benefits of business analytics in the business world. Healthcare professionals are concerned about many things, such as – if there are enough measures available that must be taken in case of flu? Or are the patients operated yesterday likely to get infected? How can hiring staffs and providing facilities be done in a profitable manner? These questions can be answered precisely using advanced analytics, which, in turn, can help reduce health care costs.”
The release goes on to list key benefits of business analytics:
(1) Business analytics helps in cost control: There are two crucial factors behind the failure of businesses, one is poor financial management and the other is bad planning. Business analytics helps in refurbishing the current plan for business and in formulating a proper strategy, planning, and strong financial management for the growth of the business…
(2) Quick and wise decision making: Quick decision making is critical to gain a robust foothold in the market. Its capacity to understand and forecast the upcoming market challenges communicates the need for business analytics. Business analytics helps crack the factors that pull back the business and, therefore, suggests strategies to boost growth…
(3) Analyzing competitor wisely: Competitor analysis is useful and advisable for all the businesses to succeed. It includes many steps like recognizing competitors, deciphering their goals, their strategies, measuring their strengths and weaknesses, finding their challenges, and finally whom to target and whom not to.
In this age of high competition, efficient data management is highly important for any business. The ability to collect data and identify information can help executives in making good decisions which would ultimately help your company stay ahead of the competitors. This is what makes business Intelligence software an increasingly powerful aide. The Business intelligence tools let managers and the executives to quickly make sense of the numbers and keep track of the business progress. Whether you opt for a traditional program or the latest marketing software program, it is important to select the right business intelligence software program to help your company gain its goals.
What You Can Avail From Business Intelligence Software
All Business Intelligence software manages data and arranges that data in a particular format that is easy for the users to comprehend. Programs tend to generate spreadsheets and reports that let companies gain a snapshot of their performance. Program developers have come to a point that business depend upon some exclusive sets of information to make their decisions. In order to meet the demands, software programs tend to perform a variety of specific functions which are carried out by business analysts.
Let’s catch a glimpse at some of the general functions being performed by software programs:
Operational Reporting- Operational reports wrap the day-to-day operation in a business. Managers who look after the transaction related activities often rely upon the operational reporting. For example, retail managers who are taking care of the cash register operations make good use of the function to track daily sales. Besides, many programs lets managers to see data that gets updated in a minute.
Forecasting- Forecasting lets managers make predictions based on the specific set of data. They determine the profitability of certain decisions and even speculate the outcome of alternative solutions. Forecasting software is a vital tool in decision making and is often used by high level executives.
Customer intellect – Customer intellect is the best tool for analyzing customer trends. Companies tend to use this data in order to get a clear picture of their customers and design their services to meet their needs. Marketing decisions are well influenced by customer intelligence.
Choosing The Right Business Intelligence Software Program
Recognizing your business needs is the first step towards finding the right business intelligence software program. The owners of medium or small scale business often choose a program that is capable enough of handling multiple functions. Buying an all in one program is less affordable than multiple programs intelligence functions. The Cloud marketing software lets companies save on data storage costs by having a third party manage their information.
In nutshell, Business intelligence tools have helped lots of companies stay ahead during the toughest economic times. Whether a business plans to curtail on expenses or identify consumer trends, they can find a business intelligence software program designed to your needs.
Business Intelligence & Business Analytics
Thomas Davenport once argued that the business intelligence firm factors can be divided into several of the options which includes querying, reporting OLAP and then to the format of analytics. By his definition of the relationship of the business analytics and business intelligence applications, it can be said that business analytics is the subset of business intelligence upon the strands of prediction, statistics, and optimization.
Measuring such perfection, a Intelligence firm always works for the ability of an organization in order to assemble, preserve, as well as in organizing the knowledge to produce more and more amounts of information which are competent enough to help the in developing some of the newer opportunities in its success standards. By identifying these opportunities & implementing them according to some effective strategies, a Intelligence firm assures an organization to gain long term stability as well as competitiveness with market advantages.
Intelligence firm or service objectives
Business Intelligence firm technologies provide previous, current and unique predictive ways towards your organizations. Some of the common functions include coverage report, online analytical processing, complex event processing, data mining, business performance management, process mining, text mining, benchmarking, prescriptive analytics, and predictive analysis. Goals which works for these modern business intelligence firms are known for their unique techniques & decision making support to all its clients. It also works as the synonym for the competitive intelligence as because they both are known for their decision support system. Using advanced technologies, applications and procedures, these firms analyze the business processes, structural, and internal data so to ensure success with your organization.
Big data analytics company or service objectives
To define the objectives of a big data analytics company , it can be said that these firms are known for their assistance in making better business decisions just by allowing the data users to analyze a lot of transaction data that remain left by other conventional organizations. Data sources with such applications may include internet click stream data, phone call details, web server logs, social media networking activity reports, sensor captured data etc. Assistive technologies engaged with such applications are Map Reduce, NoSQL database, and Hadoop; options which support large data processing applications along with the grouped systems.