Telecommunications
In a highly competitive and saturated market, customer retention, rather than new customer acquisition, is crucial. To gain an advantage, telco providers must leverage and analyze massive amounts of data to understand a full picture of their customer and derive key insights for strategic outreach efforts.
Altair’s data analytics solutions enable wireless, cable, and other telco providers to drive retention, increase wallet share and market reach, anticipate fraud, and optimize resources and network investments.
Up Selling and Cross Selling
In a saturated market, telecom growth generally doesn’t come from consumers moving from one provider to another, rather it comes from reducing churn and improving retention. Loyalty is highly influenced by customers searching for better priced plans and offers. For that reason, providers often respond by offering low-cost introductory plans to entice a customer to move over to their services, hoping that upon the plan renewal period the customer will not leave for another carrier.
Reducing Customer Churn
Did you know that 11% of customer churn could be avoided if you just reach out to your customer? Every year, telco service providers lose millions in avoidable customer switching, but it doesn’t have to be that way! Communicating to the right client at the right time with the right offer can easily mitigate that cost.
Data Preparation for Telco
Data preparation comprises 80% of the work required to apply actionable insights through analytics. Our data prep solutions allow data scientists and business analysts alike to rapidly access, blend, and transform massive amounts of customer (CDR) and network data into a workable asset for further analysis and development of client outreach strategies.
With Altair® Monarch®, the leading self-service data transformation tool for over 30 years, telco providers can:
- Process, blend, and centralize significant influxes in new customer call and usage data to create a 360° view of every individual client
- Improve efficiencies and automate manual, error-prone tasks around shared reporting, transforming and optimizing huge volumes of data for analytics-driven decision making
- Identify customer loyalty scores by tracking behavioral patterns of key network promoters
Leveraging AI and Machine Learning
With Altair predictive analytics and machine learning, providers can make trusted decisions and efficiently prioritize initiatives across their organizations, including retention efforts, marketing optimization, competitive threat prevention, and fraud detection.
Predictive analytics, AI, and ML enable providers to:
- Identify your promoters and most at-risk customers through anomalies and patterns in historical interaction activity
- Identify the customer segments most appropriate to target with the right promotional offer to maximize ROI and improve overall loyalty
- Detect and track illegal access, theft, cloning, and other behavioral trends early to anticipate fraud.
