Digital and communications service providers can no longer wear blinders when it comes to the need for event mediation. Restricting focus to the traditional means of event collection, processing and distribution to billing and assurance systems is inhibiting their business.
What will instead move the needle for operators is the enrichment and refinement of real-time, streaming information. The intelligence gleaned from that fast data can help operators not just paint a more complete picture of their customers, operations and other business processes and systems, but also enable them to take immediate and automatic action to solve their most pressing problems.
Putting It into Practice
Deriving value from the tremendous volume of data available to digital and communications service providers requires rapid analysis and intelligent distribution to critical business and operations processes and systems. Comprehensive event mediation ensures that complex event data is quickly and efficiently put to use, to improve business performance and the customer experience.
Event processing can have a much bigger impact when fast, as well as past, data is aggregated, integrated and refined. Adding complex event processing (CEP) and artificial intelligence enables digital and communications service providers to operate as a well-oiled machine.
Intelligent fast data can, for example, help inform better service usage forecasting and the resulting impact on operational efficiency and revenue. Operators can detect signs of service anomalies like temporary performance issues and be prompted to inform customers about the potential impact on QoS. Or they might uncover patterns in customer behaviours and promote a new product that consumers are inclined to buy. This type of proactive decision-making elevates the customer experience and increases sales opportunities.
And these aren’t the only areas that can be vastly improved. Revenue loss often occurs when data is misplaced, corrupted, arrives incomplete or is the result of a malfunction in the network – these errors can often go undetected in the processing shuffle. But by observing the deviations between forecasted and observed events, intelligent fast data can notify operators that there’s an anomaly and empower them with more rigorous analysis, preventing further revenue loss in the future.
These are just a few examples that demonstrate why digital and communications service providers require a modern approach to event processing: one that gives them the ability to manage the breadth of complex events and data, apply sophisticated analytics and deliver actionable results in real time.
Stepping into Big Data’s Spotlight
You can’t go far in the telecommunications industry – or nearly any other for that matter – without hearing about the importance of big data. But with voice and text revenues continuing to decline, the maturation of Generation Cloud and a host of other factors, intelligent fast data needs to move into the spotlight.
By drawing insights and making decisions instantly, digital and communications service providers can discover new revenue streams and pave the way for a smarter, more productive business strategy.