Analytics is using resources to analyze and draw conclusions on data that allows predictions to be made about future activity. Years back, major modus operandi of analytics was to convert information to insights in a broader manner, but and when the competition became cutthroat companies realized the value of personalized marketing which is pretty not possible in a comprehensive approach in extracting insights.
The telecom companies can increase profitability by creating a predictive modeling for identifying potential churn candidates and non-revenue earning customers; and can increase revenue and profitability by targeted campaigning and promotional offers which will not only retain these customers but also convert the non-revenue earning customers to profitable revenue earning customers.
Today, the market needs to track more granular and sophisticated information to get a competitive edge; this is where maximum businesses still fail in procuring the right application and expertise to implement the analytics with extensive capabilities.
For example: By analyzing the historic data (say for 6 months) and building a data model on the basis of various parameters of a voice usage customer, the potential customers for data usage and other value added services provided by the telco can be identified, who can be targeted by product bundled promotions.
Business Analytics is intended for individuals at all stages of their careersâ€”college students and recent graduates without a background in statistics, those considering an MBA or other graduate program who would like to strengthen their analytical skills, or professionals seeking data literacy.