Telcos have a lot of data in hand. As a telecom provider, the company has access to a wide array of data including subscriber demographic, location, call patterns, websites visited and media watched, network usage, application usage etc. All these data collected provide insights about customer activities. Telco operators collect several terabytes of data on a daily basis. All this data creates a fantastic opportunity for telcos. Latest analytical techniques can be leveraged on these data to analyse and to assist companies to unlock user insights and market intelligence to increase revenue and customer service. In addition to that telcos can also consider selling their customer data to third party companies which will benefit from that data. Monetization of this telecom data generates a new stream of revenue along with its already existing traditional revenue stream.
The company can combine the customer location information with the profile of the customer and their preferences and also consider providing data analytics services to other industries like retail, advertising, health care, financial services and public services etc. A lot of telcom providers like Verizon, Telefonica, AT&T and Sprint are making use of these opportunities and monetizing data and thereby increasing their revenue.
Monetization in Telcos can be done in the
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One of the common business practices adopted not only by telco but across all other industries is to offer discounts and deals in exchange for sensitive consumer data. For ex, Google sells its Nexus devices at lower rates in exchange for customer information. The company can give their customers some benefits to encourage them to opt in and make them feel secure about how their data is being used and how it will not affect them and that the customer is always in control of their
Verizon Wireless cellular service is inelastic because the products and services it offers makes them the dominant leader in the wireless industry; therefore, a 10% change in calling plan prices (monthly access fees) would not affect the quantity demanded. Verizon Wireless can depend on this inelasticity in their pricing model because of the strength of its brand and the wealth of products and services it offers. Verizon Wireless' competitive advantage comes from its ultra-low churn rate (the percentage of customers who disconnect their service is less than one percent of its 60 million customer base). This indicator suggests that customers are satisfied with the service Verizon Wireless offers and a slight price increase probably would not drive its customers to the competition. This data also suggests that customers probably stay with Verizon Wireless because of its continued expansion of new technologies and services such as its all-digital nationwide CDMA network, EVDO' or its advanced data network (used to wireless send and receive email and other data almost anywhere in the US), and VoIP (Voice over Internet Protocol) that they use for their Push to Talk products. Verizon Wireless markets to a nearly all demographics nationwide and most of its services are offered in the smaller rural markets as a direct result of the one billion dollars per quarter it spends on improving its network as well as acquiring smaller wireless networks to make their nationwide network stronger and larger.
The company first needs to collect demographic and geographic information relevant to potential store location choices in order to segment its market. It is extremely important that the marketing team gather thorough information in order to ensure they are focusing efforts in areas where the company’s products will be best received. This will help them in achieving maximum sales.
Target allowing a third part to use sales data and consumer information, gives them the opportunity to create a strong marketing strategy and increase revenue at a minimum cost. While Global consumer marketing and consulting firm could create a long term relationship with Target Corporation if this partnership yielded positive results. Furthermore, showing other high level organizations to see the impact they have on Target Corporation and see a need for that same plan for themselves creating revenue growth thought positive credibility and results. However, the use of consumer personal information from consumer view, could lead to identity theft, breach of privacy and other security concerns. Possible causing consumers to shift their loyalty and business elsewhere. In conclusion shareholders and other partners to Target could suffer a loss in profit and reputation due to the tainted view in consumers, especially with not holding their promise not to sell or share personal data, the loss of consumers becomes a high risk (Hooker J, 2008).
The soft factors can make or break a successful change process, since new structures and strategies are difficult to build upon inappropriate cultures and values. These problems often come up in the dissatisfying results of spectacular mega-mergers. The lack of success and synergies in such mergers is often based in a clash of completely different cultures, values, and styles, which make it difficult to establish effective common systems and structuresBased on the case study, extensive research and annual reports of AT&T the writer has mapped AT&T in the different domains. AT&T should strive to attain a perfect circle as close to the centre as possible, which indicates total synergy, order and equilibrium. Where the circle is skewed drastic change is needed as it moves closer to the outer ring of chaos:
Background One. Tel was launched by Jodee Rich and Brad Keeling in 1995 (Cook, 2001). At first, it looked to get the advantages from deregulation of the telecommunication industry by reselling other network’s capacity and making money through stock market speculation. Rich and Keeling tried to increase the company’s shares rather than profit the company (Cook, 2001). Initially, One.
Data can give you quite a bit of information about your customers. By examining it, you will be able to begin to see patterns and learn the habits of your customers. This could mean that you are able to provide the correct number of products at the perfect time instead of having a shortfall or being left with additional stock long after interest has fallen in the product.
Telecommunications gained mainstream attention in the early 90’s; however the initial key market was business men and women, who used their phones whilst being on the move and so allowing them to communicate with their companies with ease. Though in the modern era, telecommunication went through segmentation in the market trends, and now in this day and age it would be difficult to find someone who does not own some form of mobile technology. Many phone providers battle to provide the best service for their customers (Figure 1).
... It is apparent that consumers tend to reject the phone calls when they are angry to find that their privacy is being violated. To conclude, with the significance of e-business, consumer privacy becomes an important concern. The sales of consumer information and the lack of privacy awareness are the main causes of the privacy problem.
Now days, companies are searching for new ways of gathering data so that they can get useful data in order to make well informed decisions regarding the market they are operating in. Google analytics is considered one of the best tools offers extensive amount of data to business owners for free. However, the success of business is highly depended on how well they can arrange data and customize their collected data corresponded to their business priorities. Google analytics provides beneficial information for companies regardless of their extent of operation. Google Analytics (Location data)
...e same time, the time has come to raise consciousness, support research and standard-setting, and prepare model codes for those systems that do employ privacy-enhancing technologies. The opportunities for individuals to customize privacy preferences, research should be conducted to evaluate alternative arrangements should be generated. On top of that, the digital applications should provide transparent criteria, including ease of understanding, adequacy of notification, compliance with standards, contractual fairness and enforceability, appropriate choice of defaults, efficiency relative to the potential benefits, and integration with other means of privacy protection. Particular attention should be paid to uniformity of protocols across different industries and applications, so that consumers are not overwhelmed by a pointless diversity of interfaces and contracts.
Thus, customers can get and receive information from each other instead of communicating to the corporations or the companies and as result they can easily spread information about company products as well as information about new arrivals
Personal data is quickly becoming a commodity in today's high technology world. This information is used by banks, investment and brokerage companies, credit card merchants, government agencies (local, state and federal), and consumer product-based companies. Most people probably don't realize the amount of information that's shared between companies, or how often it's done. Many companies sell and share customer data to help sell products and find out what new products they should produce. Other uses include gathering information about inventory levels to help better determine what types of products are bought at which store, when and how often. This can be used for inventory and production, to make sure that the store (or stores for chains, like Safeway and Long's Drugs) can have the products available when they're needed.
Customer Relationship Management (CRM) is another field where A.I. is used. There is no doubt that the internet has changed the way that businesses and corporations interact with their customers, and A.I. helps by offering a myriad of data about the customersuch as their demographics and purchasing history. A.I. offers analytics in real-time, greatly benefitting the company as it works to improve its marketing and ultimately its profits.
Companies have transformed technology from a supporting tool into a strategic weapon.”(Davenport, 2006) In business research, technology has become an essential means that many organizations use in their daily operations. According to the article, Analytics is a major technological tool used. It is described as “the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions."(Davenport, 2006) Data is compiled to enhance business practices. When samples are taken, they are used to examine research and understand how to solve problems or why situations are as they are. Furthermore, in this article, Thomas Davenport discusses analytics from a business standpoint. He refers to organizations that have been successful in their usage of data and statistical analysis. In addition, he also discusses how data and statistics can be vital in the efforts to improve the operations of businesses.
The objectives are to ascertain best market share of telecom providers, switching attitude of population, most crucial influence in affecting switching behaviour and purchasing a SIM card.