Telecommunication companies are generating billions of dollars in revenue annually by leveraging the power of Artificial Intelligence, Data Science, and IoT integrations. In 2020, a potential American telecom company/operator, AT&T, generated €161.5 billion in revenue, but there is a decline in annual revenues compared to 2021 and 2022. The reason behind the revenue decline can be the abandonment of Artificial intelligence technologies.
So, what should these companies have to do? To achieve success over the competitors and increase revenue streams in 2023. The solution is simple, YES! Subscriber churn prediction using telecom data, Network design & optimization to minimize connects/reconnects.
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Network Optimization: Importance & Quality Metrics
Telecom network performance is essential because it delivers seamless services to subscribers and clients. It eases the network companies with availability, scalability, and security over network lines. Network optimization can help companies to grow faster than before by introducing machine learning and data science software solutions.
In addition to the above, software development companies such as Odyssey Analytics aid telecommunication companies with data analysis and data engineering services by leveraging the power of data. To revamp the telecom business data consulting and engineering companies focus on some quality metrics, including:
- Seamless Services: Seamless network optimization is achieved with shortest path identification, controlling the maximum and minimum cost flows, matching minimum spanning trees, and more. These techniques help businesses to deliver matchless services to the outer world.
- Better Churn Rate: The attrition or churn rate shows the customer’s retention of a business or service. The better the churn rate, the more the business will be, and the company will get a high return on investment.
- Subscriber Growth: Network optimization results in high subscriber base growth with a facility to get insights on telecom data. Subscriber growth is also a quality metric to evaluate network optimization.
- High Average Revenue Per User: The ARPU or average revenue per user means how much revenue a company recovers from each subscriber through prepaid or postpaid services. Therefore, network optimization allows them to ease the user and increase average revenue per user (ARPU).
- Cost-Cutting Infrastructure: More effective strategy always results in saving the business investment & provides an overview of whether a business should have to invest or not. Customer churn prediction, network optimization, and customer sentiment analysis result in significant cost-cutting in telecommunication.
In the meantime, let’s learn some advantages of network optimization to telecommunication agencies and companies.
Advantages of Network Optimization to Telecom Businesses
There are many benefits of product or service optimization. It helps businesses increase revenue streams and find new perspectives on business and niche-specific, targeted services. As of now, let’s elaborate on some advantages of network optimization for telecom companies.
Better Network Management & Resources Utilization
Today, investing time & money in the right direction results in business growth. Artificial intelligence & machine learning optimization techniques help businesses to grow faster via data analysis and visualizations.
Improved Network Performance
Network optimization enhances network performance by analyzing and fine-tuning various network parameters, resulting in better call quality, faster data speeds, and reduced downtime. It leads to an improved customer experience, increasing customer satisfaction and loyalty.
Increased Network Capacity
Network optimization enables the network to handle more traffic, allowing telecom businesses to serve more customers and offer new services without compromising network quality. It creates additional revenue opportunities for the company.
Enhanced Network Security
Network optimization can improve network security by identifying and addressing vulnerabilities that hackers or cybercriminals could exploit. This ensures the network is secure, protecting the business and its customers from potential security breaches.
Competitive Advantage
Telecom businesses that optimize their networks can gain a competitive advantage by offering a better customer experience, increased capacity, and improved performance. It leads to increased market share and revenue growth, making the business more successful in the long run.
Cost Savings
By identifying and eliminating inefficiencies in the network, network optimization can lead to cost savings for the business. It reduces the need for additional infrastructure investments, such as new cell towers, by using existing resources better.
Telecom Time Series Forecasting Tool: Odyx yHat
Odyx yHat is a time series forecasting tool aiming to enhance business return on investment by utilizing the power of artificial intelligence and machine learning. It has many pre-build machine learning and deep learning productionized models to assist stakeholders with seamless features of data pre-processing, data analysis & data engineering.
In the telecommunication industry, Odyx yHat assists stakeholders with its data modeling, data ingestion, data analytics, and visualization features. This tool works for
- Deep analysis of streaming data from a telecom data lake or data warehouse.
- Automatic deployment of pre-productionized ML models.
- Exploratory data analysis engine for quick EDA process.
- Immediate telecom data pre-processing power.
- No-code approach and easy-to-operate time series forecasting tool.
Let’s leverage your telecom business with versatile network optimization services from a potential software development company in the United States & the network optimization tool Odyx yHat. Seek the potential of your data with Odyx yHat. Contact us!
Frequently Asked Questions
What is optimization in telecom?
Optimization in telecom refers to the process of improving the performance as well as efficiency of telecommunication networks and expert systems. Besides, automated network optimization tools are used for this purpose, including Odyx yHat.
What are the business benefits of network optimization?
Network optimization can improve network reliability, increase capacity, reduce operational costs, enhance customer satisfaction, and ultimately increase telecom businesses’ revenue.
How much does network optimization cost?
The cost of network optimization varies depending on the scope and complexity of the project, but it can range from $10k to $1MM in US dollars. However, the benefits of network optimization often outweigh the costs in the long run.
