Telecom service providers operate in a highly competitive market that requires bringing innovative services to market faster while reducing cost and complexities. Analytics and virtualization are the top innovation drivers; connectivity and insights continue to be at the epicenter for growth, innovation, and disruption for virtually any industry.
CSPs are embracing digital initiatives that are reshaping the operating models through deep transformation of infrastructure, process, skills, culture and leadership to deliver truly digital experiences to their customer. Technologies like 5G and IOT will continue to shape up as major disruptors that would make it imperative for CSPs to seek insights that enhance the convergence across their network, business support systems and operations.
Operational Analytics and Business Insights
The key element of every business is operations and operational analytics focuses on improving existing operations through insights. Making the right decision requires timely information and having deep insight into the entire process flow. Operational analytics helps turn huge volume of data into understandable, actionable insights for more effective and efficient problem resolution. Operational analytics helps detect early patterns of data that predict issues before they arise and proactively address them for improving the overall experience in business.
The insights gained through analytics can be leveraged to address the revenue and cost side of the business by identifying the areas of opportunity and improvement. The best insights are actionable and prescriptive, and can be used for immediate action that will address the key performance parameter of the business.
Analytics is one of the key enablers of digital transformation and data analytics is critical for continuous improvements, balanced utilization and in identifying new opportunities. Accomplishing business insights through operaltional analytics involves the following:
Transaction monitoring, also known as business transaction management, is the supervision of critical business applications and services by auditing the individual transactions that flow across the application infrastructure. The telecom industry has a large customer base and the needs of the customers are constantly evolving.
Transaction management requires IT organizations to address key challenges, such as tracking transaction status & health, reporting on business metrics embedded in transaction content, and managing transaction errors.
Business KPIs & BLA enable an organization to measure and monitor its performance on a strategic and operational level. The KPIs are also known as the "lead indicators" as they help indicate the happenings in advance. Based on the strategic goals of a company, target values for KPIs are set. Comparing actual KPI values to these targets identifies shortcomings immediately and shows improvement potentials for business processes at the same time. This is vital for every company.
Business Intelligence is focused on reporting and querying and advanced analytics is about optimizing, correlating, and predicting the next best action or the next most likely action. Due to heavy competition, the industry is highly dynamic and challenging. In such a scenario, each decision taken becomes more crucial. So it is very important for the CSP to take decisions based on extensive data analytics to ensure efficient and effective use of business resources.
Fully exploiting data and analytics requires three mutually supportive capabilities:
- CSPs must be able to identify, combine, and manage multiple sources of data
- They need the ability to build advanced-analytics models for predicting and optimizing outcomes
- Continuous transformation based on insight-driven decision-making
Our solution for operational analytics and business insights is designed to achieve convergence of business and IT goals. Wipro’s Digital Operations Cockpit’s Business Transaction Management (BTM) efficiently helps organizations resolve the above challenges by providing them an in-depth capability in key areas such as transaction visibility, business KPI (Key Performance Indicators) monitoring and proactive exception management. Business managers -- through their business operations teams -- can monitor all critical transactions which have revenue impact.