3 Types of Analytics any Telco should have
Telco analytics encompass various types of analytics to satisfy the complex requirements of Telcos like understating the subscribers’ behaviour, optimizing internal operations, etc. These include increasing ARPU, reducing churn and optimizing the internal efficiency. By the adoption of analytical solutions, Telcos can improve the visibility of core internal processes, subscriber behavior, market trends and conditions etc. Analytical solutions usually extend beyond the capabilities of regular business intelligence solutions of merely reporting and dashboarding. It includes capabilities ranging from ad hoc querying and multidimensional reporting to predictive and descriptive modeling, data mining, forecasting and optimization.
Descriptive analytics help Telcos to understand the relationship between subscribers and products helping them to gain a proper understanding of what approach to take in the future for better improvement. It identifies and examines historical patterns in subscribers’ product and service consumption behavior helping Telcos to learn from past behavior to influence future outcomes.
Predictive analytics provides Telcos with actionable insights based on existing data. It provides an estimation regarding the possibility of a future action. It utilizes various machine learning, clustering and data mining techniques to perform precise and accurate analysis. Telcos can implement their prediction model in different aspects to forecast prospective tendencies to take immediate actions.
- Propensity to Churn – Predicts probability to churn within a specific time span with highest accuracy possible based on past customer behavioral patterns helping Telcos to reduce churn. The model should have the capability to identify and classify subscribers who have the potential to churn based on the risk percentage. eg : High risk, Medium Risk, Low Risk
- Propensity to Collect – Predicts the probability of payment receivable potential helping Telcos to identify subscribers with the potential to pay for subscriptions to increase ARPU by optimally sending the charging requests saving up on costs
- Propensity to Buy – Helping Telcos to increase ARPU by predicting and identifying subscribers’ who have the potential to purchase devices, activate applications and service plans etc. within a defined time period with highest accuracy possible
Diagnostic analytics help Telcos with root-cause analysis, data discovery and exploration. It starts during the descriptive analytics phase and extends into predictive analytics. With diagnostic analytics Telcos can easily analyze customer data and understand the reasons about behavioural shifts and actions. It uncovers patterns and correlations from millions of customer data providing insights that drive predictive models offering a deeper understanding for Telcos about current proceedings and providing a panoramic view of the subscriber . It has the full competence to provide right information required to develop accurate predictive models. Telcos can utilizes diagnostic analytics to get an understanding on cross-functional data required for a root-cause analysis, negative performance variations for internal optimization, strategy development for churn reduction etc.
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