In 2017, the Economist boldly stated that the world’s most valuable resource is no longer oil, but data. They got it very, very right… For Telcos, gone are the days when your mobile phone or laptop are the only devices collecting data. Thanks to an explosion of connected home and IoT applications, everything from smart watches to smart fridges can collect valuable data. It’s a wealth of information on customer habits, preferences, and routines.
In this four-part blog series, we will examine what NG Telcos need in the era of Connected Home Data to capture the knowledge locked inside.
The New Telco Opportunity for AI Analytics
With data at the heart of the connected home, there’s no way that such high volumes of data can be handled manually. Telcos need AI-driven data analytics to process all the data and extract useful information for customer service. No longer is the same service rolled out to every customer, rather services must now be personalized for specific needs. The adage “one size fits all” has never been more irrelevant. This is where AI and ML come in. Today, AI is widespread. It’s changing the customer experience. Global unicorns like Uber, Walt and Airbnb thrive from AI and algorithmic based data intelligence. In the retail sector, AI “personalization” is already in department stores like Target and every e-commerce site. With AI analytics of customer data and preferences, retail customers enjoy a new highly personalized shopping experience with smart suggestions in real time as they browse the aisles, whether physical or virtual.How to Build NG Telco Personalization
Telcos must integrate AI analytics to survive and thrive with modern customers. Clustering is the crux. By automatically identifying groups of similar customers, AI and ML models help Telco customer care, marketing, and sales in the connected home. Here is the first building block in the series:Personalizing “Live” Customer Care is the Foundation
Telcos need to make customer care data accessible to agents and customers. For live customer care, agents need to understand customer issues quickly and efficiently. With real-time access, data can empower agents with insights. It’s a big challenge for Telcos to consistently access the right data within the high-volume, multi-vendor, omni-channel customer care architecture. Only with AI data analytics like Veego’s, NG Telcos customer care units can get the flexibility they need to manage data. With AI analytics, customer care agents gain tools for data-driven decision-making. They see what’s going on in customer households in real-time and can review historical data in any resolution. Aggregating analytics and context across all channels increases productivity. Agents get the right information to make intelligent decisions for the next best action. This data helps them increase the number of quality customer conversations for higher levels of service at a lower cost. Here is an example:
