SINGAPORE–Can data become a new currency? This question was raised by Alastair Hanlon, Amdocs vice president of market strategy, during media sessions at this year’s InTouch event. “The new economy is driven by big data, and there are new ways to monetize it,” he said. Hanlon presented an Amdocs survey that shows customers would be willing to share some of their personal data with service providers if they received some compensation in return.
The survey showed that 57% of customers would share more personal information with service providers—such as their location; purchasing history; Facebook likes and comments; top five Facebook friends’ names; information from social networks; and TV/YouTube viewing history—if they received cash rewards in return, coupons for exclusive deals, personal offerings from service providers and/or loyalty program points.
In addition, the survey showed that many customers would allow telecom service providers to share their personal information with a third party: 46% of those interviewed said they wouldn’t allow it, but 54% said they would. “Currently, there’s a portfolio of initiatives to drive data and revenues. We are seeing that there are many win-win opportunities,” Hanlon said.
The survey pointed out that contrary to popular belief, consumer concerns about privacy will not prevent data from becoming a new currency. According to Amdocs, service providers are looking for an efficient and effective way to handle their mountains of data, and the majority of consumers are willing to cooperate, as long as they receive value in return.
Big data analytics
During the media sessions, Eyal Felstaine, Amdocs vice president of product strategy, pointed out that across the telecom industry, big data analytics brings the ability to better understand customers. According to Felstaine, carriers should go beyond the traditional business intelligence because it only shows what has happened. “The next step is predictive analytics,” he said.
More news from the telecom analytics market:
- IBM announced that it is growing its portfolio of cloud capabilities for businesses. Among the newest cloud business offerings is a big data and social analytics solution that chief marketing officers can use to get an emotional reading on how customers view their brand.
Amdocs provided travel costs to this event.
