Hi readers, hope you enjoyed reading the first part of this two-part blog series on Data Science. While in the previous blog we discussed Data Science technology in detail, in this part we going to discuss its significance in the Telecom domain.
To begin with there are a few Data Visualization Techniques that we all must be aware of. These are:
|Bar Chart||Combination Chart||Line Chart||Map Chart||Pie Chart|
|Box Plot||Parallel Coordinate Plot||Scatter Plot||Table||Cross Table|
|Graphical Table||Summary Table||Heat Map||Tree Map||Text Area|
Industry-wide Use of Data Science
Data Science provides the perfect solution to organizations to capture and evaluate the huge volumes of data that are generated globally. While every industry can benefit from leveraging Data Science, a few such as telecom, banking, e-commerce, gaming, finance, healthcare/ pharma, insurance, supply chain, retail, and manufacturing stand to gain massively with Data Science.
Data Science in Telecom
Telecom industry is tapping into the complete potential of Data Science. The major use being the development of impressive dashboards to provide a summary and elaborative view of Service Usage, Customer Satisfaction, SLAs, Churn Management, Revenue Assurance Analysis, Flexible Reporting, and Application Health Status.
Telecom service providers can leverage predictive analytics to predict the needs of the consumer and accordingly plan the launch of new products or promotional offers on existing services. They can also track the success of the new product or promotional offers; know about the areas of maximum user-base; customer churn; and other business essentials. Telecom operators can also use Data Science to segregate their customers on the basis of various marketing factors, such as usage and billing pattern. This enables the operators to focus and design different plans for different segments of customers, which helps them raise revenue YOY. In short, telco operators get a 360-degree view of their customers, which empowers them to take several informed business decisions.
Last Few Words
With the number of mobile phone user increasing exponentially, the customer-base of telecom operators is swelling at a rapid pace. Telecom service providers thus require scientific algorithms and mechanisms to analyze the behavior of millions of subscribers on a daily-monthly-quarterly-annual basis. Apart from Data Science, several other technologies such as AI, chatbots, and real-time analytics are playing a critical role in business operations of telecom giants across the globe. However, we are not touching upon these technologies and their role in this blog.
That is it from us. Let us know your thoughts in the comments below.
Until next time!
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