LONDON--(BUSINESS WIRE)--There are few markets that are as versatile and competitive as the telecom industry. With constant technological innovations and top market players attempting to increase market share by routinely offering new products and services, telecommunications companies are locked in a battle for dominance and have turned to analytics to gain a competitive advantage.
Telecom vendors are having massive success by adopting analytics solutions, mainly customer, network, and financial risk analytics according to Quantzig. Quantzig’s recent predictive analytics insights show that telecom companies can decrease customer churn rate by 50%, while at the same time increase repeat customers by 15%.
For more insights, get in touch with Quantzig’s analytics solutions experts
Telecom Analytics Market Trends
Vendors are looking to implement churn prediction models. Analytics solutions experts are developing hypothesis’ around churn rates, conducting data analysis to assess the reasons for churn. The result is a high accuracy model that updates risk scores for more accurate and timely retention actions.
This isn’t the only model vendors are looking to implement – credit risk modeling is increasingly being used as well. This model acts as a scorecard for its customers to identify and separate the good accounts with higher likelihood of regular payment, from potential bad accounts with high potential for defaults, for managing credit risk, bad debts and developing a targeted collections approach. Leading telecom vendors have already had massive success using this model, in some cases achieving 50% reduction in bad debts.
How Can Quantzig’s Customer Analytics Solutions Help You?
Quantzig is helping telecommunications companies utilize insights to better plan their marketing and promotional objectives. Leveraging analytics is critical to launching dominant products and retaining customers in the telecom sector and while drawing insights from such a heap of information may be a daunting task, amidst cut-throat competition, telecom analytics should be a vital component in every telecommunications companies’ marketing arsenal.
In addition to creating and implementing predictive models for telecom vendors, Quantzig has also helped consumer goods manufacturers reduce supply chain cycle times by 20% and helped home appliance manufacturers improve sales by 11%, by performing a web crawling and text mining engagement.
View Quantzig’s success stories: https://www.quantzig.com/sales-marketing-analytics-case-studies
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.