Last year, we reintroduced readers of The Fast Mode to the Five Vs of Big Data: Volume, Velocity and Variety, Value and Veracity. In 2016, Big Data took center stage as companies across different industries—including communications service providers (CSPs)— grappled with reams of new data about their customers from a diverse set of sources.
And as CSPs grow and make acquisitions, more data will be pouring in from even more sources. The AT&T acquisition of Time Warner is an excellent example of how these data sets will explode; video is a “new” service that will bring a wealth of additional data about subscribers, their viewing patterns, their likes and dislikes, their purchasing patterns, and so on. However, it will also bring with it the complexity of a different type of data set, and additional structured and unstructured data that will add to the volume already being collected. It’s a bonus for service providers to get even more information about their customers, however, it’s also likely to be another data silo that AT&T will need to incorporate into the great data set.
Director,Marketing & Products,
Looking ahead to 2017, we see a few themes emerge when it comes to CSPs and their Big Data initiatives:
#1: Heading into 2017, we’re thinking that the term “Big Data” may be a bit obsolete, however popular it may be.
In reality, it’s the little, dynamic data that emerges from the bigger data universe that matters most when it comes to improving the customer experience. The biggest challenge service providers will face in 2017 is how to slice and dice these growing data sets—oftentimes housed in separate silos in different departments of the company—to pinpoint that precise information that’s going to make a particular customer buy, or buy more, services.
#2: The Internet of Things (IoT) will be a blessing and a curse for providers in 2017.
The volume of data is poised to skyrocket as more and more connected devices come online and require connectivity. That means more use of the network, and potentially more revenue. However, the volume will also cause providers to look at their back-office systems and consider more flexible billing and operations support (BSS/OSS) systems to optimize them for these different types of transactions.
#3: Without monetization, and without improving the customer experience, data means nothing.
We’ll see monetization efforts across three key areas:
1) Business Analytics:
- Understanding data patterns
- Analysis (predictive, social media, e-commerce)
- Operational intelligence
- Accurate forecasting
2) Real-time insights that lead to real-time actions
3) Combining unstructured content with structured data:
- Adopting new tools and technologies
- Adopting emerging technologies such as MPP analytic databases, Hadoop, and advanced analytic platforms
Big Data is emerging as an indispensable tool to run businesses effectively. New solutions will continue to emerge to speed up processing, analytics and storage for Big Data, but it’s what CSPs do with the little, dynamic data that will help their grow their businesses in 2017 and beyond.
About The Author:
Kelly LeBoeuf is the Director of Marketing and Prodcuts at Excelacom. As Director of Marketing and Products, she oversees the company's marketing and communications efforts, including strategy, branding and messaging, events, public relations and digital and social media. Prior to joining Excelacom, Kelly worked for Time Warner Cable as a product manager in the Technology and Network Operations group. In her role, Kelly helped her team successfully launch several products to Time Warner Cable's residential Internet subscribers, including Essentials Internet, Starter Internet, and Everyday Low Price Internet.