Times are tough for traditional Communication Service Providers (CSPs).
Competition has traditionally been between telcos of a similar ilk, but with so much of the competition diversifying to exploit alternative revenue streams and the arrival of telecom virtualization, the level of competition has reached new heights.
Digitization, in particular, has provided a catalyst for monumental change and now the industry is being required to transform as a consequence.
Telcos are turning to new tactics to compete in a vastly different landscape and quickly need to come to terms with new strategies. Approaches now focus on methods like customer journey mapping and data driven services and products, rather than relying on tried and tested voice and data services. In order to transform their businesses and stay competitive in this rapidly evolving industry and digitized world, telecom operators need to monitor user behaviour and quality of services effectively.
Research from Digital Strategy Consulting found that two thirds of consumers in the U.K. and Germany like to receive personalized communications. In order to foster better relationships with their customers, operators must consider leveraging data analytics to improve and streamline business processes. This means understanding their customers in segmented, granular, context-rich ways.