Telecommunications companies, or telcos, make up a considerable share of worldwide industry and, like other global players, invest a lot in business data to inform business decisions.
Recent years have seen some considerable changes to the telecommunications industry with the cost of rolling out 5G expected to reach around £600 million across the world. The pressure continues to be placed on telcos as society expects instant reliable connections in terms of communications with a worldwide increased reliance on phones and web-based services.
What Data Should Telcos Be Particularly Aware Of?
Of course, telcos have access to data which is particularly desirable. Multiple telcos have looked into the possibility of monetising data, which of course needs treating very carefully. Data is big business, but it would seem that, so far, telcos are not reaching their targets when it comes to data equalling profit.
Fortunately, it’s looking like the near future is a good time for telcos to look into this area in more detail, and working with the adtech sector is a promising way of making the most of the data being generated. The sheer volume of data generated daily is astounding, with more than 90% of data having been created since 2016, according to Harvard.
A Tricky Balance
A reason why it can be so tricky for telcos to monetise data is because – rightly so – many people expect complete privacy with their online activity. Personal attributes such as email addresses, cookie tracking and fingerprint IDs are highly personal, and the majority do not want these shared. Yet customers also want to have personalised services online, and personalised advertising is big business. A data analysis company such as //shepper.com can provide expert support to companies looking to walk that line safely between data analysis and customer privacy.
Personalised advertising, of course, requires numerous metrics to be tracked – email click-through rates, conversion rates, browsing history and even activity across other apps and browsers. Telcos need to tread this line carefully to ensure privacy is respected while customer expectations are met.
