Impact of Big Data on Indian Telecom Services
Big Data as a true differentiator of endless possibilities has been taking the corporate sector by storm being a processor to lead business model transformation. According to a recent report by NASSCOM, Big data analytics sector in India is expected to witness eight-fold growth to reach $16 billion by 2025 from the current level of USD 2 billion. The surge of information consumption will lead to the quick adoption of big data analytics which is inevitable. Advanced analytics is the key to solving complex data, thereby, providing an ability to conduct analysis and simulations of every single business related matter wherein the results achieved are completely accurate, concise and relevant.
Big Data adoption rates have started steadily growing over the last couple of years with Telecom, Retail and Pharma leading the way. According to a study done by IBM adoption rate has increased by over 40 percent YoY and some of the factors driving the interest in Big Data are finding correlation across multiple and disparate data sources (e.g., Clickstream, Geospatial and transaction), Predicting Customer Behavior, Predicting product/service sales and Fraud and Financial risk.
Cloud, as a strong communication backbone is a key success factor which has immense potential for adding greater value to other companies. Through the help of cloud and software-defined datacenters, corporate will create new opportunities into the enterprise world by unlocking evolutionary levels of insight, flexibility and scale. Such insights will help them take right decisions for their business and help them move ahead in the right direction, thereby, utilizing their time on making business more effective.
Some for the key factors which have led to adoption big data:
• Renewed focus to scope out analysis from unstructured data which provides relevant reports helping in making the right decisions.
• Usage of big data is now considered to be more than just a decision enabler; it is gaining a strong foothold in firms seeing the umpteen possibilities.
• Firms prioritizing investment in big data are re-aligning their official procedural structures in order to take complete advantage of this concept.
Data analytics has been taking a major foothold in corporate sector, its institutionalization will provide boost to firms to reach the bottom of the pyramid and help in aiding personalized support. It is equally important for firms to seamlessly ingrain any successful data analytics concepts in the IT infrastructure to deliver excellent customer experience. As an upcoming tool of innovation, differentiation through innovative offers, social media and enterprise mobility must be used to provide new offerings to customers.
As a concept, even smaller firms today inspired from industry leaders are ensuring to seep big data analytics into their respective IT infrastructures as it tends to be a cost-effective tool which in turn helps their business function efficiently due to critical deep insights. Firms following the lead of industry leaders use the large chunk of data through big data analytics, thereby, gaining insights on customer behavior to purchasing trends. They use it intelligently to equip themselves with opportunities to streamline processes and customize product and service offerings.
Tata Teleservices has been using big data for a while now emphasis while using it has been on the end to end customer experience management strongly. It has been helping us to define systems to measure stage-wise experience parameters for a given customer and correlate them for personalized delivery, not to forget the predictive tools and robust data warehousing which are in place. While these solutions enable us to leverage structured data, we are also looking at available options for effective mining of unstructured data. Using the Hadoop framework we have leveraged Big Data for more effective Vigilance Tracking and Monitoring.
Cloud computing is also an important arena which from experimentation has become a critical enabler for the transformation of next-gen telecom companies. As a vital strategy provider, it enables service providers to provide a collaborative platform for internetworking with over-the-top-players. Adoption of cloud technology provides CIOs with ample time to focus on other myriad business related issues rather than being in a reactive mode to hold all the information together in one place.
The most growth is expected in the booming arena of mobile internet if estimates are correct, then more than 45 percent of the world’s population in Asia is the biggest users. Specifically, the number of mobile internet users in India reached 371 million by June 2016, and is on track to cross 500 million users in 2017. With more and more upcoming brands, manufacturing will see a new high in terms of internet and smartphone. As a trend, this segment will be likely benefitting exponentially in the coming times.