Telecom companies worldwide are grappling with the unprecedented challenge of enhancing and maintaining the quality of their data assets to minimize revenue leakages and reduce their process failures. The latest predictions from CFCA 2015 Industry Survey reveals that telecom operators globally incur an average loss of 13% or USD 294 billion due to numerous uncollected revenue and frauds prevailing in this industry. Poor administration of back office database clubbed with inefficient data quality tools are the major reasons for bringing such upheavals in this industry.
Data quality challenges arises in the industry owing to the sheer complexities in integrating numerous systems and exponential amount of data generated across the industry. The problems get accentuated owing to the severe competition, advancements in technology, and frequent offers offered by other Communication Service Providers (CSPs) operating in the market space.
Adopting data quality tools could help CSPs to identify, cleanse, and enrich their in-house generated data using data-deduplication tools. Clean and enriched data provides better insights to comprehend customer’s demand which could be capitalized by offering customized services ensuring customer retention and establishes higher brand loyalty.