Service providers today have access to more data than ever about their subscribers, and this is increasing all the time with the growth of the Internet of Things. When this data is aggregated, anonymized and enriched with other data sources, it has the potential to be very valuable to other industries, such as transport, retail and advertising – to mention just a few. At the same time, service providers are under pressure to find new business models and revenue streams and to secure ROI on the money they’ve invested in data analytics.
The opportunities are there – but of course there are significant hurdles which must be overcome, such as issues around privacy and trust, for example.
Enter the new data monetization project at TM Forum, which is being led by Barak Alon, business analyst at cVidya.
“I want us to deal with that challenge. We will study privacy – we have the right people here [at TM Forum]and address it so that CSPs can monetize their data without risk to their brand.”
He notes that the team will look at companies that are successfully monetizing data and create sector-specific guidelines and best practices for other service providers to learn from. Get in on the ground of this new and important project.