If data is treasure, where’s the diamond?
We asked CSPs which types of data are most valuable to their businesses, and unsuprisingly, data about customers’ preferences and needs topped the list.
05 Mar 2020
If data is treasure, where’s the diamond?
This is a snapshot of findings from our report How to leverage data across the entire organization derived from our tightly focused survey of 106 people from 46 unique CSPs representing every region of the globe, and who are responsible for executing data strategy. Download the full report now for further findings, our in-depth analysis as well as guidance on how CSPs can best leverage network and operations data.
We asked CSPs which types of data are most valuable to their businesses, and it is not surprising that data about customers’ preferences and needs tops the list (see graphic below).
We asked CSPs which types of data are most valuable to their businesses, and it is not surprising that data about customers’ preferences and needs tops the list (see graphic below).
Indeed, 66% of CSPs said it is extremely valuable to the business. This type of data can come from any customer touchpoint, such as call centers, retail or online stores, mobile apps, email, and so on. Network and operations data ranked very closely behind customer data, with 65% of CSPs saying it is extremely valuable to the business. We did not ask specifically how CSPs are using the data, but most use cases today are based around improving operational efficiency.
Remarkably, only about half of respondents said that data relating to brand and reputation is extremely valuable. If CSPs are going to make customer centricity the biggest driver of their transformation programs, they certainly need to measure the impact it is having on their brand. Most CSPs use Net Promoter Score to measure customer satisfaction, but data relating to brand can be even more useful.
In our survey we put data from social media (what customers say about services on social media platforms and direct communication with CSPs via social media) in its own category, and it scored much lower than anticipated, with only about a third of CSPs saying it is extremely valuable data. This is perhaps because we did not explain that it could also include data about customers’ preferences and needs.
The two other data sets we included as choices relate to CSPs’ supply chains and data about employees’ views and needs. When we asked respondents how successful they had been in collecting this data, there was a much higher success rate for supply-chain data than employee data (see graphic below).
Brand counts
Remarkably, only about half of respondents said that data relating to brand and reputation is extremely valuable. If CSPs are going to make customer centricity the biggest driver of their transformation programs, they certainly need to measure the impact it is having on their brand. Most CSPs use Net Promoter Score to measure customer satisfaction, but data relating to brand can be even more useful.
In our survey we put data from social media (what customers say about services on social media platforms and direct communication with CSPs via social media) in its own category, and it scored much lower than anticipated, with only about a third of CSPs saying it is extremely valuable data. This is perhaps because we did not explain that it could also include data about customers’ preferences and needs.
The two other data sets we included as choices relate to CSPs’ supply chains and data about employees’ views and needs. When we asked respondents how successful they had been in collecting this data, there was a much higher success rate for supply-chain data than employee data (see graphic below).
Hear more on the topic at our AI, Data & Analytics stream by joining thousands of your peers at TM Forum's Digital Transformation World in our new Copenhagen venue this June.
