Today’s telecom service providers have a largely untapped source of customer data contained within their billing platforms. Billing data provides insight into the services that generate revenue for service providers, however, service providers are either not optimizing this information to their own advantage, or find the analysis of this data both costly and time consuming.
It is well known that customer insights come from a wide range of data and that analysing this data has become a valuable tool for success in helping to drive important business decisions, anticipate customer behaviour and prevent churn. But for many service providers, accessing the valuable digital data contained in their customer billing platforms is very restrictive and can take days, weeks and sometimes months to access, collate and present in an understandable format. We are seeing increasingly that this has become the responsibility of skilled data scientists and this type of resource is expensive to hire, so the data remains largely untapped and not analysed to its full advantage.
Service providers would benefit from analyzing their digital billing data from more than just a ‘rear view’ perspective of past purchases. This valuable data can help to more accurately predict buyer behaviour which will enable them to improve a wide range of operations across their business. Sales and marketing activities can be tied directly into this predictive helping to improve customer satisfaction and stickiness.
By ensuring that valuable insights from their customer billing data are easier to access, work with and blend, service providers are able to greatly reduce the analytical process time by empowering non-data-specialist users across their business to effectively carry out analytical activities.
Billing data can help service providers become more intimate with their customers; it can ensure they are able to highlight real-time shifts in behaviour patterns, which will enable them to act quickly on new information.
In his recent ‘On The Radar’ report Rik Turner from Ovum outlines the benefits of ‘Hastening Analytical Insight for Non-Data Scientists.