You are no longer just a company of products or services, you are a data company

April 26, 2023

All companies in operation today are actually data companies. This is because, every day they collect and process a large amount of information: from customers, internal operations, suppliers, partners and competitors...

However, many companies are incapable to see this data as an asset of great value to their business. This is despite the fact that "data is the most valuable gift of digitalization to business management".

The data a company collects, and potentially should collect, can be used for very specific actions with direct return, such as:

  • Advanced customer segmentation
  • Churn prediction
  • Predictive maintenance of machines
  • Real-time stock management
  • Ppricing optimization...
  • ...and much more.

All this is possible with a company's internal data, but opportunities multiply when we also include other external data sources.

Turning data into valuable assets

Regardless of the sector or area of activity of a company, there are data sources that can offer a really unique value when creating and training algorithmic models to help strategic decision making; this could include meteorological sources, events and work calendars for cities, statistical and demographic data, land registry data and social networks.

If human beings are 70% water, companies are 100% data.

Organizations seeking to remain relevant today are devoting all their efforts to digitally transform themselves, basing their decisions on data with the incorporation of Big Data and Artificial Intelligence technologies.

As if that wasn't enough, upon solving the challenge of digital transformation that many companies face, they do not find themselves at a competitive advantage, but instead on a level playing field with the rest.

Photo: Stephen Dawson / Unsplash

What really makes a difference is the data you obtain, how you organize it and the strategy for its utilization. So that's the key, and even more so, is the choice of external data sources that can enrich the information you already have.

In this way, Telco data becomes very important to companies' corporate strategy. This is due to the large amount of useful information they provide in terms of customer knowledge.

Big Data and Artificial Intelligence solutions for the tourism industry

Business insights: mobility, tourism or retail spaces

At Telefónica Tech, we understand and classify our Telco data that we can provide to our customers, in an aggregated and anonymized manner. Business insights that allow us to detect behavioral patterns that help us better understand your needs.

In this sense, we offer our clients solutions based on their business requirements;

  • We offer Crowd Analytics services in which we can present behavioral patterns on mobility between different locations and cities; even inside retail locations.
  • We also provide Consent-based data services that facilitates the interaction between brands and their consumers.
  • We also offer analytics for fleet management through our IoT services.
  • In-depth knowledge of communications between branches and call centers through our Communications solution.

Brands have to gamble on new ways of approaching their consumers, and this is achieved by focusing their efforts on getting to know them better and adapting to their needs and new demands. For this, new technologies play a fundamental role.

Featured photo: Joel Filipe / Unsplash

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