Helping telecom operators adapt to a new economic model Business News

MYCOM OSI is a Business Reporter customer

Andrew Coll, CEO, MYCOM OSI

Focusing on customer experience is paramount to success

Over the past 30 years, the mobile telecommunications industry has used new technologies to meet the changing needs of its customers. And current trends show that this has not changed: telecommunications companies have an ongoing need to monetize their networks and services, supported by AI to optimize their resources and reduce their operational costs.

In 2022, Gartner estimates that 5G infra revenues will reach $23 billion, and IoT and private mobile networks will also continue to grow. To support new services, migrating telecommunications networks and their operations to the cloud is essential for service providers. The shift to more critical enterprise and industrial services, based on streaming applications, will trigger a need for seamless connectivity and optimal performance for robotics manufacturing, remote healthcare, autonomous driving, security public and other critical services. It’s an exciting time in the market and telecom service providers are reshaping their business accordingly.

The profile of the future telco

Telecom operators are faced with the evolution of new business models. This evolution is mainly driven by smart industry, which requires ubiquitous connectivity with high reliability. This in turn will push service providers to rethink their business model and the way they do things.

Telecommunications providers will need to offer other advanced connectivity services, delivered on demand and in real time with optimal availability and quality. The enterprise user would expect the network to operate seamlessly as critical services, such as driverless self-driving cars, precision factories, and drones, depend on it. SLA guarantees will become increasingly essential to the business model of the company. From healthcare to transportation, smart industries will provide the impetus for connectivity providers to meet their performance standards. To understand why telcos will focus on this, Research and Markets estimates that the global Industry 4.0 market is huge: $123 billion in 2022.

Alignment with the client for strategic objectives

Growing intelligence is needed to cope with the immense complexity, scale, and diversity of use cases that the new telecommunications service provider and its smart industry customers would require. To deliver the industry’s 5G use cases, telcos are investing heavily in fiber and connectivity. A UK-based telco is aiming high by investing £15bn to build a full fiber nationwide network by 2026 and delivering 5G across the UK by 2028. Its top priority is create an exceptional customer experience for consumers and businesses. clients. There is a major need to monetize these new services and optimize costs, while providing high quality services.

Smart connectivity is necessary for a smart industry. Whether intelligence is organically embedded in networks or extracted from network or customer data, it is crucial to how telcos will deliver the goods to smart industries and rebuild their revenue models.

Products that support smart industry from now on will be governed solely by customer requirements. Product innovation will be determined by the longevity of the product and the supplier’s flexibility to adapt and customize to customer needs. This refocusing on customers will help put service providers’ margins back on track.

Additionally, service and usage metrics are critical to the business. If telecom operators can offer tools to check the status of the service level agreement for a connectivity service, the services will be guaranteed and the customer will feel empowered. This transfer of power from the telco to its customers is new and essential; this will build trust between supplier and customer.

How to rethink for tomorrow

A change in technology and business model can bring great opportunities as well as challenges.

MYCOM OSI has helped Tier 1 telecommunications operators around the world achieve their business and strategic goals for the past two decades. And by offering network assurance and experience assurance solutions, MYCOM OSI has helped them deliver the best performance to support their customers, including enterprises. The main objective of MYCOM OSI is to generate economic results for telecommunications operators by reducing their CAPEX and OPEX. AIOps will be key to unlocking the potential of data to generate revenue and keep telecom operators fully aligned with their customers’ needs. Ensuring customers the smart industry experience is crucial: through intelligent predictions of service needs, service behavior and network response, service providers can delight their customers and rebuild their businesses.

For more information visit mycom-osi.com

Originally published on Business Reporter