Telecom's data revolution: Adapting for a connected future

It is time telcos pivot to data-centricity to unlock efficiencies, commercialise data, harness Al, and fortify data strategies for transformative growth

- FAWAD QURESHI

With 2024 well underway, the telecommunications industry is primed for a major transformation. The extensive amount of data gathered by providers daily presents a substantial advantage for the industry. However, many providers have been slow in adapting to a data-centric, highly connected environment. This is especially stark when comparisons are made with providers of streaming, mobile payments, and video conferencing applications, which are ironically driven by the services of telecommunications providers.

So, the wealth of data telecom companies can access through streamers, for instance, represents a gold mine. The caveat, though, is whether providers can pivot to data-centricity. This will be vital in the days to come.

#1 DATA HOLDS THE KEY TO CUSTOMER EXPERIENCES, SUPPLY CHAIN MANAGEMENT

Heightened customer expectations. Growing supply chain complexity. These are just a couple of the imperatives for unlocking new operational efficiencies. By utilising network data, service providers can develop hyper-personalization, for instance. Hence, expect telecommunications providers to embrace new technologies, particularly modern data platforms, to harness existing data resources.