How Data Drives the Financing Shift in Telco TELECOMS INCREASINGLY DEPLOY DATA-DRIVEN DECISIONING TOOLS TO COMBAT FIERCE COMPETITION AND CREDIT RISK CHALLENGES.
Today’s telecommunications industry faces cutthroat competition, underscored by disintegrating profit margins and high customer churn. With subscriber loyalty largely hinging on data-delivery speed, quality of service and attractive financing offers, telcos are increasingly deploying data-driven strategies to improve their existing products and services, create new business revenues, secure customer retention and achieve growth. HOW DID WE GET HERE? Global Advancements Through the evolution of the telecom industry—in tandem with the innovation of new modes of communication such as the smartphone and the internet—once monopolistic telcos’ luxury phone services have now turned into commodities. The single phone line has faded into a distant memory, and rotary and touch tone telephones have been largely consigned to antique stores, sold on eBay, or rented as theatrical props. Indeed, they represent a type of technological tombstone, along with answering machines, manual and electric typewriters, transistor radios and cathode ray tube TVs—as reminders of how far global communications have advanced. From Rotary to Commodity The global telecommunications sector has staged a substantial transformation from its late 19th century roots in American Bell Telephone Company, the construction of the single phone line, and the emergence of monopolistic telco giants. Arguably, however, the most transformative events didn’t occur for over a hundred years, with the EU’s liberalization of the sector starting in 1988, as well as with former US President Bill Clinton’s signing of The Telecommunications Act of 1996.
Once monopolistic telcos’ luxury phone services have now turned into commodities.
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