Analytics are absolutely everywhere, and any business unable to compile their data quickly and effectively through portals and interfaces will be stuck, wasting time on manual processes each time something goes wrong in their network. For ICT and Telecoms customers, speed is everything. Organizations must adapt and find better, faster ways of getting an overview of their business health.
This is where insights-as-a-service comes in. The sister of SaaS (software-as-a-service), this is a new approach to presenting insightful cloud services and allows companies to use an interface that displays the insights they need to know from every corner of their business, almost instantaneously getting the insight they need to proactively target new prospects and upsell their current clients on services they need.
The ability to have clear visibility of their whole network for on-premise PBX, mobile PBX and their CRMs and applications such as Skype for Business, all in one view, will provide an edge the ICT and Telecoms market has not experienced before.
Insights-as-a-service truly is the next big thing to happen in analytics, and the market is expected to grow to $3.33 billion by 2021, according to a report from MarketsandMarkets. It’s becoming increasingly clear that the companies that will outshine the rest are those who effectively combine their communications and software, such as CRM, with advanced analytics, and use these insights to implement changes and strategies within their organizations.
Insights-as-a-service will allow businesses to analyse their interactions with customers throughout the whole customer journey, and will highlight areas for improvement, such as customer service interaction, or holes in the sales funnel that would previously have gone undetected.
In order to keep up with fast-moving markets, insights-as-a-service will become more and more essential to businesses who want to stay on the cutting edge of technology and telecommunications and is likely to fundamentally change the way the ICT and Telecommunications industry develops. Below, we’ve identified the top seven reasons why:
Top 8 Reasons Why Insights-as-a-Service Will Change ICT & Telecoms
- Organizations will need to adapt to insight-driven practices opposed to data-driven – the old data-driven ways are going to have to be let go and insight-driven practices utilised as the best way to interrogate data and create the best customer experience possible
- Data analysis can be, to a degree, outsourced – and this will allow smaller companies to focus on using the data acquired from IaaS companies to move quickly, outmaneuvering large organizations who are unable to react to the data as quickly.
- Businesses buying Insights-as-a-service products will have improved outcomes – those businesses utilising insights-as-a-service will have tangible outcomes such as revenue increase and savings on expenses.
- Small and Medium-sized businesses will no longer have to rely on basic data management – Insights-as-a-service will deliver even small businesses a range of data from across their business, from the moment a customer comes into contact them, to repeat purchases and ongoing relationships.
- Any sized business will have access to a much larger dataset – one of the true benefits of insights-as-a-service is the ability for those services to access much larger datasets and pass on the knowledge and benefits of these to their customers.
- Businesses can quickly attain the information they need and act on it – they don’t need dedicated workforces to spend hours and hours validating data, instead they can access the insight they need and act on it.
- Teams across the organization can quickly attain the same information through role-specific interfaces – so analysts and data engineers can collaborate without the need for your engineers to worry about how it is shared.
- It will improve business productivity overall – because data required to make vital decisions in the upper levels of the business, and elsewhere, will be able to attainable extremely quickly, cutting down on wait times while analysts collect and compile data.
The use of insight-as-a-service platforms is growing rapidly, and those businesses who utilize these seamless cloud services to quickly attain data-driven results will be able to produce clear-cut actionable steps for their business moving forward. This will lead to better customer acquisition and retention, thus leading to overall revenue increases for the businesses using insight-as-a-service platforms. Those unwilling to adapt will see their businesses fall behind the industry standard for growth, and IaaS will become the industry standard for small and medium organisations in the ICT and Telecoms markets.