Asserting that most of our lives rely on the functioning and availability of one or multiple data centers, will not be an overstatement. Most of the information from every segment of human activity such as energy, lighting, telecommunications, Internet, transport, urban traffic, banks, security systems, public health, entertainment, and even our physical integrity are stored in data centers. From mere storage facilities, today, they have transformed into powerhouses of treasured customer insights for organizations, enabling them to reach and revisit business goals with relative ease. Cloud and software-defined datacenters, present immense scope for corporates for creating new opportunities by unlocking evolutionary levels of insight, flexibility, and scale; assisting in real-time decision-making, optimized customer solutions, and even the development of new, personalized products and services.
Harness the Power of Analyzed Data to Reach Customers
As the concept of one size fits all has started to fade, most businesses are realizing the power of mass personalization to differentiate their products and services from that of their competitors. It has become a crucial brand attribute in activation and fostering customer loyalty and brand equity at a time when customers are comparing purchases at the click of a button. This is where data centers play a key role in harnessing the power of analyzed data and elevating your business, becoming significant contributors in the core development and execution of business strategy that can impact the employees, customers, market opportunities, and others. Big data analytics is one of the most cost-effective and potent tools in any organization’s customer engagement arsenal. A McKinsey report titled, Getting big impact from data quotes that a large retailer has the potential to increase its profit margin by more than 60% through big data analytics.
At Tata Teleservices Ltd, we place greater emphasis on end-to-end customer experience management. Customer data analytics is at the heart of understanding who your customers are, what their behavior/preference is, and how to maximize revenues with both existing and new customers. This requires the integration and analysis of data both inside and outside the business. Tata Docomo’s *123# is a self-help functionality that allows the customer to access customized offers developed based on their usage behavior. The same functionality enables retailers to fetch the best offer for the customers. Since the offer is made keeping the customers’ requirements in mind, it increases the relevance of the offer helping establish preference and thereby conversion. This service has provided a simplified self-help platform for our consumers, and has now been running successfully for close to two years. The ultimate intent is to get every consumer, before every recharge, to check out his very own personalized “not available in market” offer. The obvious business benefits include better customer-retention rates and better uptake of higher value recharges. To use that information for determining segments and micro-segments of customers and predict product and service innovation is the way to success for businesses in the near future.
Need for Skilled Professionals for Effective Data Management
Given the increasing demand for big data and related services, the data center market is entering a period of extraordinary transition, and the pace of this change is set to accelerate during the year ahead. There is a need to hire more big data specialists in companies to help effectively run and manage implementation across functions. In terms of utilizing data centers in sync with newer technologies, developments are expected to take place in the growing trend of corporates using big data insights to develop services based on the Internet of Things (IoT). Both these technological trends have emerged over the past few years; however, we have seen a growing trend since last year, of both technologies being used together in meaningful ways.
With corporates expected to only grow smarter in deriving and utilizing big data insights, we can only expect the full potential of these services to assist companies in delivering tailor-made services, products, and solutions to customers across the world, thereby turning data centers into potential gateways of corporate success.