Over the past decade, traditional telco carriers have lost influence as digital innovators provided free messaging, calling, and video services. This shifted consumers' focus to device manufacturers like Apple and Google. One Asian telco has begun transforming digitally to regain relevance by leveraging the vast customer data it collects. Through analyzing individual user data in real-time, the telco can anticipate needs and deliver highly personalized experiences, becoming a trusted partner. The telco's "Minority Report" program aims to use data insights to continuously improve customer experiences through services tailored to their behaviors and life events.
11. Over the past decade the traditional telco market has been
decimated by digital innovators and new technologies. In
the bygone era, the telco carriers were at the center of the
consumers’experience in providing exclusive voice and data
services. With the mass adoption of smart device technologies
such as instant messaging platforms and virtually free video
and voice call services from the likes of Skype and others,
lucrative revenue streams have been reduced. As a result,
the focus of the relationship has shifted toward the device
providers or more specifically those who provide the device
operating systems - Apple and Google.
This new paradigm has reduced the influence and role of
telcos in the minds of consumers, and many are well aware
that their future reason for being needs to be addressed
before they become obsolete.
One of Asia’s leading telco companies has begun to turn the
tables on this by unlocking an abundant and largely untapped
asset that is the lifeblood of all telco carriers throughout
the world - data.
The telco in question started their digital and data transformation
program 18 months ago and is now on the verge re-defining
their role with consumers.
Mobile devices reside at the heart of most modern consumers’
lives, reflecting not just their communication history with
friends, family and colleagues but they are also the digital
footprint of how we live. Each device is a record of personal
behaviors, interests and habits, recording precisely what we
do, where and when.
Imagine for a second that this data can be accessed at an
individual level, interpreted in the right way and most importantly
acted on all in real-time and what this may mean for consumers
and telco carriers in the future? A telco would be able to sense
where you are and your precise needs and desires at any one
time. In response, the company will be able to deliver experiences
that are so relevant to your life that the telco becomes a trusted
life partner.
CASE_STUDY:
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This concept is best brought to life through a“use case”which
paints the portrait of the users’experience in the future.
Fern is a 32 year old office manager who resides in the
Bangkok suburbs. She wakes at 7am during the week and
commutes to the center of town on the Skytrain. First thing in
the morning she checks her email and updates her Instagram
profile before heading out. Her journey normally takes half an
hour which allows her time to catch up on her favorite Korean
melodrama. Over her lunch break she checks out the latest
international and local fashions online and browses where to
get the best weekend shopping deals. Heading home Fern
normally prefers to listen to music and often does this while
planning her next weekend away.
It is this level of information that the telco can now leverage
and act on in real time; whether it is suggesting relevant video
content at the precise moment Fern steps on the train in
the morning (delivered through their video content partner,
Google), or providing potential advertisers precise information
about Fern’s shopping preferences during her lunch break. Or
for the Telco themselves recognizing that music above all else
is important to Fern which is while they provide her the free
music stream service to secure her loyalty.
Through a digital and data transformation program that
uses big data deep insight machine learning, this telco
has positioned itself at the center of the data ecosystem;
orchestrating the delivery of valued experiences and at the
same time leveraging the potential value of their data with
commercial partners.
This“Minority Report Style”experience is not a future fantasy
but a program that is in development right now and on the
verge of delivery. This intelligent program recognizes changes
in personal behaviors, whether it is taking a holiday or more
significant life events like moving house, getting married or
moving jobs ensuring the telco has an ongoing enduring
place and purpose in their subscribers’lives.
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15. ACTIONS CEO CMO CIO
DO • Be the champion of Information DX:
provide sponsorship and C-suite
support to the DX agenda which
in turn will provide authority to your
DX team.
• Define your data agenda with clear
vision of how the company will
leverage the value of data across
the organization. Decide where the
monetization opportunities are the
highest and give directions which
projects to scale.
• Create a pan-organization DX team
that will deliver your vision. Empower
the entire organization to explore
opportunities to monetize data.
• Create an appropriate data-
driven organizational culture by
democratizing data access
and visibility.
• Set out your data-driven marketing
nirvana. What does your future
CX look like and how does DX fuel
its delivery?
• Create a clear roadmap for CX and
DX delivery; prioritize foundational
development and short incremental
steps to achieve success.
• Develop a staged business plan
for DX roll-out that demonstrates
payback and ROI at each gate.
• Resource accordingly to the DX
stages and look to diversify where
you look for support.
• Monetization of data should be
high on the list of priorities for
organization-wide information
architecture decisions.
• Establish governance to manage
data security, privacy control and
information distribution.
• Address talent gaps in digital
capabilities and skill sets such as data
science, man-machine interactions/
usability and IOT.
DON’T • Avoid layers between the business
and you by giving Information DX
responsibility to the CIO, CMO or
CDO. See information as a source
of competitive advantage, a choice
between thrive-or-survive.
• Don’t think that your DX issues are
unique to your business or industry.
Learn from and look for inspiration
across organizations and industries.
• Don’t adopt a short-term test
strategy as a cheaper substitute for a
long-term strategic advantage.
• Don’t assume your initial vision is the
only way forward; adopt a flexible
and agile point-of-view to your initial
business ambition.
• Don’t leave the data agenda to the
CEO and CIO alone; data is the fuel to
successful CX and modern marketing.
• Don’t measure everything, measure
what matters. Ensure you don’t
get held up in the data deluge by
defining a clear KPI framework and
metrics that matter.
• Don’t abandon the long-term brand
building in favor of short-term digital
optimization. We can easily get
swayed by the pressure to deliver
against short deadlines and targets
in the era of real-time measurement
and optimization. Take the long- and
short-term view.
• Don’t exclude other parts of the
organization. Information DX is an
organization-wide strategy that
requires LOB leaders, product BUs
and IT to work together to create,
beta test and launch digitally
enhanced products and solutions.
• Don’t limit possibilities to within
the organization. Data information
exchanges can be leveraged to
augment in-house data. Open
innovation and crowdsourcing
provides ideas for new products
and service, and talent access to
fill internal gaps.
• Don’t source technology vendors
solely based on immediate goals.
Information DX is a journey, and
vendors with ecosystem partner
diversity gives you flexibility to
explore IT-enabled options.