As technology improves and mobile devices turn into a ubiquitous element in people's everyday lives, it becomes crucial that the telecommunications market find optimal strategies for serving its customers, including both individuals and large companies. Customers are looking to build and maintain smarter networks, reduce customer turnover, improve the subscriber experience and even generate new revenue streams.
All of these endeavors are challenging, but recent research has shown that by integrating big data, these businesses can achieve more on all of these fronts. To serve customers optimally, telecom companies must gather more information on these customers' use of telecom tools - including when, where, why and how much they utilize them.
Recently released data from Research and Markets shows that the big data-driven telecom analytics market is soaring in value. Between 2014 and 2019, its total value is expected to climb at a compound annual growth rate (CAGR) of nearly 50 percent. At the end of that time period, telecom analytics will account for a whopping $5.4 billion in annual revenue.