Using Mobile Analytics to Monetize Readily-Available Network Data
It is inevitable that when a technology is perceived as being “cool”, a lot of companies start claiming that they can do it. Mobile data analytics is one such market. Over the past couple of years, the waters have become muddied, to the extent that service providers are rightly confused by the array of options available, many of which are not true data analytics or are ill-suited for a telco environment. Mobile operators must understand the differences between the vast ranges of analytics solutions on the market to truly identify one that really provides the insightful and actionable data that they need to innovate and close the gap between what they are offering and what subscribers are asking. All this becomes critical at a time when operators are at a risk of being dump pipe and power is shifting slowly to OTT content providers.
What is Mobile Analytics?
Mobile analytics collects and analyses the data operators possess on subscriber, billing and demographics information. It extracts valuable insights for operations and marketing departments, application and content developers and advertisers. These insights empower operators and help them identify opportunities that lie within the network and subscribers, such as highlighting bandwidth issues and delivering a personalized online experience.
According to Heavy Reading in 2011, more than 92 percent of mobile service providers say they want to incorporate analytics into their business analysis to improve efficiencies and reduce operational costs, but only 20 percent are currently doing so. Knowing which solution will work best for various organizations can be difficult when mobile analytics is something that many software developers claim to provide. Many mobile analytics solutions monitor data in apps, such as number of downloads, user engagement, revenue and reach – all of which are powerful data for app developers, but this information has very little relevance to mobile operators.
Similarly, advertisers use mobile analytics to monitor advertising campaigns both on the web and via mobile devices. There are solutions to monitor how many people have clicked on the advert, demographics of the audience and the types of access devices. However, this data is not necessarily impactful to an operators’ subscriber base or help increase their revenues.
What Operators Need From Mobile Analytics
With a huge variety of solutions and the large number of companies claiming to offer analytics, it is often challenging for mobile operators to determine whether analytics solutions provide the information and insights that fits their needs. Mobile operators require a solution that gives actionable intelligence – data that the operator can monetize – rather than solutions that show basic reports with a few fancy graphs.
Operators have an arsenal of data on subscribers including their billing, demographics, and usage information readily available on their networks. This poses a major opportunity for them to monetize the data if they know how to leverage it appropriately. Therefore, an analytics solution needs to process and translate that information into something that the operator can actually use. Mobile analytics solutions which collect and process the right information can provide valuable business insights and highlight issues that need resolving.
The Benefits of Effective Mobile Data Analytics
Mobile operators are sitting on a digital gold mine. The potential gains for mobile operators, if they were to use right solution, are vast. By piecing together data from existing silos within a network, the right analytics solution can highlight real-time consumption and behavioural trends across various platforms, providing a holistic view of the subscriber and their interests. Operators can then use this intelligence in a variety of ways.
For example, operators can avoid network congestion by knowing when and where their subscribers use mobile data the most. They can also identify subscriber data usage habits – such as watching streaming mobile video to and from the office – and offer personalized data plans and content that matches their needs to compel subscribers to purchase premium video services. Additionally, analytics has the potential to allow mobile operators to cleverly target subscribers with revenue-generating promotions, ensuring they receive relevant mobile advertising and making the end-user experience more personal.
Clearly, mobile data analytics is an indispensable resource for mobile operators to close the gap between themselves and their subscribers. Failure to adopt an appropriate data analytics solution and harness the data they already have could result in operators not only losing touch with their subscribers but also missing out on new revenue opportunities. Choosing the right mobile analytics solutions will empower operators with true data-mining rather than simple reporting and ultimately provide a better end user experience.
For more information about the operator benefits of mobile analytics, visit: http://owmobility.com/mobile-data-analytics