The launch of LTE networks and the expected increased of data volume raises the possibility of unlocking greater returns for MNOs. The opportunity to use data that can be captured from mobile networks to inform business strategy and tactics, to improve customer experience and network efficiency and, ultimately drive new revenues, is too large to be ignored.
But things aren’t that simple. Data from LTE networks is useful and provides a potentially valuable resource, but on its own it is meaningless. Recent research counsels us to treat optimistic predictions of the value waiting to be uncovered with caution. Simply exposing increasing quantities of data doesn’t necessarily mean that we can secure insights that yield additional value. Of course, given the investments in LTE networks, MNOs need to maximise their returns. How can they begin to leverage this data and make it contribute to their future success?So what’s to be done? It’s time to use the massive amount of unstructured data to our advantage. We need to take LTE data that can be collected from objective sources, and interrogate it in the right way. We need to take LTE data and sort it effectively so that we look at particular segments.
Take customer behaviour for example. If instead of looking at data as a whole, we examine data from selected groups, we can begin to make more sense of it. However, to take account of sample bias, we should correlate data captured from the network with known facts regarding specific groups or segments.
We are much more likely to find something interesting and that can be turned to our advantage if we focus on a specific segment – for example, female students between the ages of 18 and 24, with a prepaid subscription and their use of a particular application. What we learn from them can enable us to tailor offers, packages and upgrade incentives that are more tuned to their needs, offering a wealth of opportunities to monetise the increased quantity of LTE data available.
The way to turn LTE data into insight – and hence to begin the task of profiting from it is to make sure that we ask questions that relate to chosen sample groups: to use observed, objective information derived from the network to learn more about patterns of behaviour in our sample groups.
The secret of unlocking value from LTE networks is to use tools to query specific data sets of interest. We might uncover nuggets by serendipity, but to ensure we secure value, we really need to make sure we ask the right questions of the objective facts that are available.
Visit us at stand 54 at the LTE World Summit 2014 in Amsterdam to find out more about Polystar’s Marketing Insight Solultion and Polystar’s Network Analytics suite.
(This blog post was initially published at the LTE World Series Blog)
POLYSTAR MEDIA CONTACT
Director of Marketing
Phone: +46 8 50 600 600