The global big data analytics market in the telecom industry is expected to grow at a CAGR of 28.28% over the period 2013-2018, according to Research and Markets.
A new report shows that telecom companies are a host to huge volumes of data about customers and their usage details, which is stored in their databases. With big data analytics, these data can be stored, mined, and analyzed to help improve the bottom line, and also help telecom service providers to enhance customer experience, intelligent network planning, and reduce customer churn.
The emergence of AaaS (analytics as a service), which reduces the cost of ownership for organizations, is a major trend in the market. This approach allows organizations to deploy big data analytics solutions tailored to their business needs.
According to the report, an increase in mobile internet usage is a major driver of the market. Applications that were once limited to only computers are increasingly becoming available on hand-held devices such as smartphones and tablets, which are boosting the market’s growth.
Further, organizations are concerned about ROI when they decide on employing big data strategies. Factors such as acquisition and integration of data sources, increase in FPRs of analytic engines, and lack of clear big data strategies are slowing down the adoption of big data analytics solutions.