Nottingham, UK, 02 October 2013 - An international survey of leading executives in the Telecoms sector conducted by Experian, the global information services company, has revealed that ‘big data monetisation’ is the fastest growing challenge facing the sector. Churn, customer experience and reducing fraud are also amongst the key issues and challenges facing Telecoms companies in the lead up to 2014.
The survey was conducted amongst 80 senior executives in 45 telecommunications companies covering 22 countries. Executives were asked to provide insight into the most pressing issues. A similar survey was conducted last year and the results have been compared to identify leading trends in the major issues affecting telecommunication companies over time.
The main findings from the survey include:
Antonio Valasquez, Corporate Risk Director at Telefonica, commented: “We agree with the findings of the survey. Our experience tells us that concerns around reducing churn, improving customer experience and developing cross-sell opportunities are very closely interrelated. The pressures of market saturation combined with the drive to reach new customers and improve profitability, means telcos are having to rethink substantial elements of their strategies. This demands not only self-criticism, courage and effort, but also new and better customer information, analysis and insights.”
Tim Barber, Strategic Development Director, Experian Decision Analytics, added: “It is no surprise that Customer Experience, Big Data and Fraud have been identified as serious challenges for telecommunications companies. The telecoms industry has access to vast amounts of data, and is rapidly understanding how this data can be mined to improve business performance in these critical areas.
“The findings also complement recent research by Experian into the ‘Always-On- Consumer’ and the significant part that mobile connectivity is playing in the lives of consumers. Young, urban and tech savvy consumers are increasingly seeing mobile as their primary medium for engagement with organisations and brands. This research provides consumer insight into the growing demand for more attractive and interactive mobile services such as touch-and-go payment, snapchat SMS messaging and the need for service providers to capitalise on this demand to drive their growth.”
Experian in the Telcos Sector
Experian has worked with telecommunications providers since the early 1990s, when it started providing consumer information services and hosted application processing systems to the new generation of mobile operators. It has since grown its footprint significantly, and currently helps well over 100 international telecommunications operators to find, acquire and manage customer relationships. Experian works with telecommunications in a number of different areas including application processing, customer insight, acquisition & retention, credit risk, decision analytics, debt management, fraud prevention and identity solutions.
Key emerging areas where Experian is assisting Telecoms companies with these challenges include:
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2013 was US$4.7 billion. Experian employs approximately 17,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.