Is it time for TELCO Revolution?
Telco revolution and digital transformation are keywords for our society with multiple developments going in IT & Telecom Sector. From IoT to machine learning, from Virtual Reality to Fixed Reality, from telecom operators MVNO to MNO, the digital society has witnessed different advancement with time. No doubt, it’s the peak time for Digital Transformation. This is evident from the conversion of traditional networks to the new one.
Telecom operators grow opportunity
Leaving back the old traditional telecommunication system, telco’s have adopted a new way to embark on the journey towards digitization. Nowadays, telcos have many best opportunities for growth which is not actually due to the voice, data and messaging services. Being digitally active, then mobile service providers have adopted digital offerings in content delivery and cloud-based services. Many telecom operators have also started to monetize the information captured as the course of business. Many telos globally are implementing new services and features such as intuitive, Omnichannel self-service, for instance, for improving customer experience. Service Providers like MNO and MVNO already took momentum launching VoLTE and VoWiFi. They understood that can decrease the cost and increase quality.
Time for customized services and Big Data
The concept of modified products and services is not new. Digital technologies allow telecom operators to deliver customized services in a way that were previously unimaginable.
The growth of Big Data models while the usage of Business Intelligence platforms is actually the primary infrastructures associated with the system and an element of the domain that is electronic permitting the analysis of consumer data in real time to provide customized and contextualized individual experiences to millions of clients simultaneously.
5G and edge computing
The rollout of 3G/ 4G was a bit slowly globally, but with the initiative of transforming this world to digital, Many countries are about to roll out 5G. 5G will ensure the connectivity of interacted device with each other. With 5G will reduce latency to 1 millisecond from 50ms with higher bandwidth. All the developed and developing countries are trying to adopt modern technologies by being part of the digital revolution. As future telecom growth will come from the application based on technologies such as internet of things, automation, and artificial intelligence.
Due to the ever-increasing scope and complexity of telecom sector, providing services that meet the best user experiences, immediacy, agility has become more difficult and challenging for Telecoms. Previously, telecom service provider’s separated business model into verticals such as fixed line, mobile, broadband, broadcasting and content. However, after their convergence, the whole network infrastructure has become more complexed. No doubt, IoT will increase the complexity by introducing different kinds of connected devices such as card and connected home which will lead to more demanding customers. To cater the consumers need, telecom service providers should adopt new strategies of digital economy business to present their market in the best possible way.
Digital Transformation learning curve
Telecom operators need to adjust to people’s behavior on mobile, across their customers’ lifecycle. Using the business and personalization that is increasing the back-office and system technology. This would be the biggest transformational challenge. In this telecom world of digital transformation, service providers need to understand their customer’s preferences. They have to start using data mobile technology that helps MNOs to identify which component of their business combines with CRM strategy, which in turn will make them an innovative company.
The benefits of digitization are well known by telecom operators, but their implementation has remained a problem for them. To be a strong player in this revolution journey, the key is to understand the customer, not the technology.