The telecom industry is going through a stagnation-bordering-recession phase. Over-the-top (OTT) players are expanding their offerings to core communication services like voice and messaging, thus forcing telecom carriers face rapid decline in their communication service revenues.
In this dynamic environment, how can a telecom business create positive impact? The solution to this puzzle lies in three elements - the value delivered to the customer, unique positioning of the value, and its efficient delivery. If you are a telecom executive operating at this critical juncture, you need to focus on these three fundamental elements.
Here, we will dwell on two elements of the puzzle - what value to deliver, and how do we deliver it efficiently.
What ails telecom sector
The operational challenges faced by a telecom company are-
- Low operational agility and efficiency as back office processes involve multiple instances of manual intervention to handle applications, database and operating system
- High capital expenditures and operating costs due to high cost of spectrums and large number of employees for back office processes
- Siloed processes as a result of data silos in the organization
What value to deliver
With consumers adapting an attitude of frequent switch between telecom network providers based on the offers provided, customer retention has become a key cause of concern. To deliver value, organizations must have short innovation cycles and continuous addition of value-added technology and services. To that effect, application of Artificial Intelligence (AI), Machine Learning (ML), Big Data and Internet of Things (IoT) techniques on a single unified network will generate new avenues of enhancing customer satisfaction and also provide additional streams of revenue for telecom.
Value through AI + Machine Learning + Analytics
Telecom operators can deploy AI through ML technique into their networks for performing activities such as subscriber profiling and analysing offer conversion rates, network activity and content usage trends. Through a base of strong profiling and analytics, the telecom operator can build a loyal customer base by targeting user-specific tailored services at the right time. AI-assisted network with ML and Big Data analytics capabilities will enhance customer experience through automated detection, troubleshooting and optimization of mobile networks.
How to deliver value
One of the most efficient, feasible, fast and scalable approaches to delivering value is through automation. Along with efficient management of back office processes, Robotic Process Automation (RPA) enables telecom providers to manage large volumes of repetitive and rules-based operational processes. RPA, when applied on key processes, digitizes the process in and out and generates a pool of data points, which is the primary input for Artificial Intelligence and Data Analytics techniques to follow.
What value to deliver - Customized offerings to ensure customer satisfaction and loyalty, network optimization, anomaly detection and troubleshooting through AI, ML, and analytics.
How to deliver value- Through an early adoption of RPA. RPA when coupled with intelligent technologies that can learn and make decisions beyond initial programming, can expand the horizons of creativity and productivity in the organization.