The advent of massive datasets and new tools and techniques for leveraging that data are revolutionizing the telecommunications industry. In the talk below from DSC’s 2022 Data Science Innovators Conference, Frances Boykin, PhD, Director of Advanced Analytics, discusses the countless opportunities to use data to better understand customer behavior and interactions, build patterns, and make decisions.
Dr. Boykin discusses the “five Vs” of Big Data: volume, velocity, veracity, variety, and value. Volume refers to the sheer amount of data we are able to collect, velocity refers to the speed at which we can process this data, veracity refers to the accuracy of the data, variety refers to the range of data we can collect, and value refers to the usefulness of the data when making decisions.
Data can also be monetized, meaning that it can be used to create revenue through selling customer data to other companies. This can be used for targeted marketing, improving customer loyalty and retention, and data-driven improvements of network services.
One specific use case in telecom is Global Supply Chain. Global Supply Chain is a rich source of data, and can be used to better understand the customer, mitigate disruptions and risks, increase the accuracy of planning, and prepare for the future.
Watch the full conference talk below, and don’t miss this year’s Data Science Innovators Conference on April 12-13, 2023!