Communications systems pull in terabyte after terabyte of data. It can be a challenge, though, switching from data to actionable advice. In fact, this very challenge has driven the business intelligence analytics market for years. Telecom companies have worked to standardize data collection so they can offer the same body of analytics products to all their customers. Advances in NoSQL databases, with their flexibility and speed over relational database collection, has halted the drive toward data standardization. Decision makers can now search for different insights. Make the following three avenues a priority to get the most from big data.
No two businesses are exactly the same, even if they serve the same market in the same industry. Different approaches to marketing drive different returns. Companies need data analytics that pull out the differences. This allows greater flexibility and more in-depth analysis of performance and data discovery. In addition to analyzing current actions, 73 percent of businesses are already driving toward predictive analysis that leverages existing data to make predictions about future performance.
Another important factor from communications systems is the ability to tell the story in a comprehensive but understandable way. It is easy to get lost in the information. Clear visualizations allow management to adjust goals and take action. For example, reading a long list of numbers makes it challenging to absorb the information. It also makes it virtually impossible to grab the big picture out of the clutter. Most people can only retain a few pieces of data, so creating a visualization of the information makes it possible to see the big picture, notice information gaps and improve performance.
Monitoring usage activity, corporate goals and industry best practices is another important element for telecom expense management. Usage activity plays a role in the cost of data and overall work productivity. With 34 percent of employees spending at least an hour each day on personal tasks, there is room for dramatic improvement. By aligning usage with goals, companies help decrease both direct and indirect costs. Incorporated industry best practices can catch billing errors and reduce overall expenses.
Companies improve at almost every level by incorporating leading telecom management practices with a clear understanding of communications systems and big data addition. Faster communication means better conversions, higher customer retention and improved productivity. Turn an existing communications system into a source for business intelligence that leads to actionable insights.
Worldwide telecommunication spending is projected to reach $1.6 trillion by 2018, according to Statistica, but many organizations have a hard time managing communication spend. The...