Telecoms Must Learn to Appreciate Big Data
Telecommunications operators are being overwhelmed by the amount of information now in their possession, encouraging the industry to take up arms in the Big Data race. Because the nature of collecting, storing, and analyzing massive volumes of information is widely considered disruptive, organizations need to consider embracing the Big Data trend or risk missing out on crucial opportunities for growth.
New research from Heavy Reading Service Provider IT Insight found that the Big Data phenomenon is impacting nearly every aspect of telecom operations because these solutions introduce new chances for decision-makers to fundamentally change the way they run their business. At the same time, many companies are still relatively unfamiliar with the Big Data landscape, which will encourage them to reach out to trusted vendors for training and support.
"Big Data is the big topic of conversation in many a big board room around the world," said Simon Sherrington, research analyst with Heavy Reading Service Provider IT Insider. "People are excited about the potential of Big Data to drive big changes in the way organizations are run, innovate, and interact with customers and potential customers."
Telecommunications can experience similar benefits to the rest of the business world that is considering embracing Big Data, including the ability to reduce costs and optimize performance.
Telecom's big chance
Analysts highlighted the importance of telecom decision-makers recognizing that Big Data is a "once-in-a-generation opportunity" to create new sources for income and stronger business processes in general. If organizations miss out on the chance to give themselves a distinct competitive advantage over rival firms, they will find it increasingly difficult to attract and retain clients in the coming years.
A separate CompTIA report echoed the importance of capitalizing on Big Data, noting that more than three-quarters of businesses are more positive about the trend than in recent years and should jump on the opportunities that are presented.
"Data has always been important in the business world, but the Big Data trend has elevated its importance, pushing companies to be smarter in how they manage and use data," said Tim Herbert, vice president of research and market intelligence at CompTIA.
Telecommunications organizations, like the rest of the business world, can gather, analyze, and use information to learn about prospective and existing customers to build new revenue streams. By learning how to properly manage such large volumes of data, decision-makers can give their firms a valuable edge in the marketplace.
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