10 types of business questions that telcos can see answered through data
If we think of the telecommunications companies (like yours) as a body, it is easy to understand why they take great advantage in the data business: they have almost all the data in the world running through their veins. Holding the key of the information infrastructures, telcos are easily able to gather and use data. However, if you own or work at a telco, you may be experiencing some challenges to go digital.
The truth is that it’s more common to find telcos totally focused on their daily work then taking advantage of the potential that runs within them. An inquiry conducted by Moss Adams in 2021 showed that 60 % of the telcos believed that “the data exists, but can’t be easily accessed and leveraged for decisions”. And as a B2B business, your insights may be (and should be) even more helpful to your clients ― but insightful answers only come from structured and meaningful data.
One big question remains: once you have the right data, what exactly should you do with it? When running a business, there is other equally important thing to bear in mind, which is knowing your high-value Key Business Questions (KBQ). An article by Harvard Business Review describes Key Business Questions as “forward-looking questions that establish a framework for what an organization will do with the insights produced by analytics” ― something many people have been doing with intuition, but without the objective insight of data.
Therefore, digital transformation is the ultimate leverage for telcos: because bringing the right technology to your company (like AI, Data Mining or Analytics, among others) is the only way to bring your business out of the doldrums. Digital transformation will allow your business to grow in a solid, predictable, almost unquestionable manner, as proposed by methods with growing popularity like Data-Driven Decision Making or DDDM.
This means you not only need the data, but also to know your business well. You need to know the right questions to make and where to go. Only this allows telcos, better than anyone else, not only to have quick access to valuable and predictive information about the business, but also to have a prescriptive and always up-to-date plan for the business. All of this depends also on wise management ― and of course on digital transformation.
We gather here 10 areas with questions that you should ask about your telco and that can be answered through data.
Better decision making
- What are the most critical issues affecting my telco business now?
Buying patterns and competitive landscape
- What is my ARPU?
- What is my subscriber growth?
- What is my churn rate?
Customer experience and behavior
- How do customers rate their experience?
- What is the history and preferences of the client?
- What is the best way for client conversion?
Streamlining processes and operations
- Is it possible to identify the most frequent causes for delay?
Sales and marketing
- Which prices can be increased without losing clients?
- Which marketing actions have proven to be most effective?
- What do the most valuable employees have in common?
- Are there opportunities for achieving more profit in my supply chain?
- Is it possible to reduce expenses in 5 %? Or 10 %?
- Where do significant variations in expenditure occur?
- Is my business scalable and flexible?
- What segment has proven to be more profitable?
- What segments should my company invest in?
- What are the most evident cross-sell and up-sell opportunities per product and per customer segment?