There are several mistakes telecom companies can make with business intelligence. One of the most glaring ones could happen before they ever launch their systems: Some leaders will not take the idea of analytics seriously. Industry insider Scott Tunbridge recently spoke to BizTech2, explaining that firms with a serious business intelligence focus have largely performed better than those who have brushed the systems off. With usage statistics rolling in, the effectiveness of business intelligence has become obvious.
Adopt or lag
Telecommunications is a field with obvious BI usage cases. The sheer amount of information means there is plenty of raw material. Tunbridge told the source that business leaders who have embraced data have gone a long way toward achieving their goals of improved performance. He noted that businesses want to make their decisions quickly and manage to pull ahead of their rivals even as their budgets shrink. They are turning to BI to achieve these ends.
There is one simple purpose to good BI results – they help leaders make decisions. According to Tunbridge, the results of poor choices made without the benefit of data have been catastrophic. He pointed to the recent financial crises in the United States and Europe as problems that could have been foreseen through information analysis. When companies are using data to its fullest extent, they can seem almost precognitive, acting on things before they manifest as serious issues and understanding the market in ways that are hardly obvious at first glance.
While there are usage challenges present in the current market, including the expansion of input volumes to big data levels, Tunbridge offered hope for telecoms. He suggested that companies should begin by surveying their own users to find out what they most need to become better in their roles, then find solutions tailored to those needs.
Cooperation and success
Analytics programs may have side effects for companies, potentially very beneficial ones. TechTarget recently explained that IT and business departments, very different in construction and purpose, need to come together. One of the things that can draw out this close teamwork is an analytics development process. The source noted that developing business intelligence use cases requires IT to get more in touch with the company's overall goals and communicate better.