Telecom industry to boost sales with Business Intelligence :
Telecom industries are faced with the huge challenges of ever changing market conditions. They therefore need information to anticipate these Changes and quickly make informed Smart decisions.
Decision-making in the telecom industry today demands high-quality intelligence. This is where business intelligence (BI) solutions play their critical role.
Any business can be successful only if the sales end is strong.
The same holds good for telecom industry, especially with telecom service providers.
Here with telecom service providers Business intelligence plays a large role in making profit because it deals with large amount of customer data .
Hence getting this customer data in a useful format is “Business intelligence”.
As mentioned previously for any business to be successful sales plays a very prominent role and sales always is supported by strong marketing practices.
Well next question would be how is this possible?
Some of the focus areas are:
· Providing strong marketing support.
· Sales Analysis
· Improving customer loyalty services.
· Building customer retention models.
1.Providing strong marketing support:
To give a good marketing support it is necessary to understand the market well. Having a good strategy is the foundation for a strong marketing.
Two basic Strategies, which can be pursued, are:
. General strategy
. Customer strategy
General strategy
Companies here comes up with a product, which is common, and try marketing to the masses. Advertising plays a major role here. Even though this has been a major practice, profit margin out of this has been very low, because individual needs of the customers are not taken into account.
Customer strategy
Basically understanding the customer needs and tailoring to their individual needs have overcome the disadvantages in general strategy. Thus business intelligence plays a major role here by analyzing the customers that optimize profits by nurturing value added customer relationships.