One of the trending buzzwords in the last few years is "Data Democratization." Today's businesses sit on a wealth of data; the focus must be on how best to activate it and build value.
How do I get data to a much wider audience so that they can analyze for their own business requirements and develop insights and value much more quickly than they were previously able to do?
Data democratization means making data accessible throughout an organization across functional roles and departments. It allows the chance to harness its power to create 360-degree views of customers that will ultimately drive better experiences and outcomes.
In the decades preceding us, telecom companies have focused primarily on providing connectivity services and depending on various vendors across RAN, core, automation, marketing, etc. Typically, we call this a non-intelligent pipe on top of which companies like Meta, Spotify, and Google have built an entire ecosystem of applications to collect customer data and help newer businesses target better.
The key to future business models is how well organizations can collect, transform, and utilize data. Data, as they say, is the new oil.
Each telecom company has created many small data silos where OSS, BSS, RAN, Core, and Marketing do not interact. Hence, generating insights, launching new packages, and customer communication have become mammoth tasks. Therefore, the telcos have had to depend on third-party data sources from Google and location-based flows to select the right audience for marketing campaigns.
It is time for the telecom industry to utilize the tech stack that powers eCommerce and other new verticals and industries.
We at Rakuten Symphony envisioned a horizontally scalable, resilient data platform, SymworldTM platform, with multiple database solutions to power the telecom applications into a central data lake to ensure maximum availability across the organization to all users.
While designing the solution, we ensured to test compatibility with both on-premises and cloud-based storage systems. We also provided to power the platform with all possible data storage, streaming, search, and transformation solutions a telecom firm might need, like object storage, SQL/No SQL database, in-memory database, event streaming, spark streaming, and ETL solutions.
Think of a new telecom data cloud, giving a complete directory listing of all data in the organization and governed centrally to prevent unauthorized access, ensuring regulatory compliance on sensitive user data.
Let's create a new world of interactive OSS, BSS, marketing, and internet services – ensuring telecom companies start harnessing the power of data generated by its millions of customers and be able to launch innovative win-win products.