The global telecom market size stands at $3041.8 bn as of now with $4.17 bn gained from the telecom analytics area alone, which sums up the importance of telecommunication in our life. To a substantial extent, it is driving the way we lead our lives. Hence, it has become equally important for businesses to stay up to the pace to be their user’s first choice. Considering telecommunication industry is vital in connecting the world and the way to go about running enterprises, digitalization should be at the core of their growth strategies.
In fact, it would not be wrong to conclude that the telecommunication vertical serves as the bedrock of the digital age. Think of the rapid evolution of cellular connectivity from 2G to 5G today, it has been possible due to digital inclusion only. However, a few telecommunication service providers have been successful in truly realizing and embracing the potential of digital transformation. As for the rest, it has become more than a necessity to redefine their future and plan growth objectives fueled by digital technologies.
This blog will highlight the benefits of adopting digital solutions along with the key areas as well as trending technologies which will help you capitalize on lucrative opportunities and experience rapid as well as sustained growth.
Digital inclusion has transformed the way enterprises operate today. There is no need for hardware as innovative and efficient solutions have taken over with the ability to deliver better results. If you want to place yourself among the leading telecommunication service providers, it is imminent to focus on the following technologies as their features help fulfill the purpose of converting telecom digital in the truest sense. Let’s explore them.
Not just the telco professionals or associated technically adept telco fraternity, but every telco customer is aware of 5G and briefly has an idea of its potential. Every user has access to smartphones, and they prefer navigating the web via smartphones. With every advancement, users want faster internet to get their purposes fulfilled at the same pace. Imagine getting results 100 times faster through 5G than getting results on your 4G network. Intriguing indeed. But of course, getting ahold of 5G requires proficiency in associated technologies as well, for instance, big data, AI/RPA, and IoT.
Telecommunication service providers can earn big on big data by augmenting their customer experiences with the help of gaining in-depth information on the customers which eventually aids the organizations in creating personalized offerings and experiences. Subsequently, this increases the overall customer lifetime value.
The predictive analytics feature assists in producing results that give you the most pertinent recommendations to stay proactive and produce measures that help you avoid challenges and design your growth strategies accordingly. The analytics can cover critical areas such as real-time network traffic monitoring by tracking heat maps along with the network bandwidth patterns of towers based on the on/off-peak hours.
Lastly, data monetization is another lucrative aspect. You can opt for selling customer data without violating the user’s privacy to companies in other sectors like healthcare.
AI and ML are here to replace every process disruptively as these technologies are driven by data, while RPA can be directed by feeding rules. These solutions allow accelerated scalability and agility as it rids your employees from repetitive tasks such as responding to customer queries, report generation, price tracking, etc, and completing them very accurately, and focus on more productive ones.
The telecommunications market is expected to shift to communication service providers (CSPs) to the cloud. Cloud will help telecommunication service providers to introduce new offerings in the market while reducing their service cost and respond quickly to the market changes. You can shift your vital business functions to cloud and leverage its efficiency to expand your product portfolio.
Safeguarding information is an acute challenge faced by telecommunication service providers. With larger customer bases, the influx of data and its protection becomes complex, giving out opportunities for malicious attacks to fraudsters to misuse the data.
With the right information security (InfoSec) mesh, your business can build an impenetrable fortress leaving out zero possibilities of compromising user and organization’s data. It is because the deployed mesh will operate with a more modular approach instead of securing a single IT perimeter as networks do not have physical borders.
The number of telco users is increasing day by day. Indeed, it is a positive indicator for telecommunication operators but at the same time, it requires the advancement of people, processes, and technology. Digital transformation is the way forward to achieve the said goal. Only then, the telcos can keep their users connected with diverse, global networks and provide the fastest, most affordable, innovative services. Yet many telecommunication providers are burdened with rapid growth, managing siloed data, controlling costs, and trying to increase business agility.
Techvista Systems has the capabilities to help you identify and overcome the said pain points that hinder your growth. Our disruptive solutions tailored by our experienced professionals are empowered by the world’s leading digital technology companies that can help your organization stay ahead and consistently evolve. The trust of EMEA’s leading telecommunication companies is a testament to our resilience, innovation, and dedication to fostering a digitally transformed telecommunication sector of EMEA. To find out how we can digitally enable you and set higher benchmarks, visit us at www.techvista.com or follow us @TechvistaSystems.