Monetizing the global data frenzy

Monetizing the global data frenzy

As I reflect on 2016 and the global events that captured the attention of the world, it’s hard to ignore our obsession with data. The 2016 Olympics, for example, was not only the home to some of the world’s best athletes and performances, but provided a global common ground that resulted in 75 million tweets posted. And, let’s not forget the nearly immeasurable updates on Facebook, millions of photos and videos shared on Instagram and the exchange of messages on WhatsApp. Fueled by social networking, the global data frenzy is challenging service providers to not only keep up with ever rising data demands, but to apply data monetization strategies.

Data monetization, a growing opportunity

Cisco forecasts that monthly global mobile data traffic will be 30.6 exabytes by 2020. Over the past 10 years, mobile data traffic has grown 4,000-fold and almost 400 million-fold over the past 15 years. Indeed, astounding numbers!

To capitalize on consumers’ ever increasing demand for data, service providers need to be able to offer creative data services packages and bundles, as well as have flexible charging and robust big data monetization capabilities. The ability to support any combination of time-based, usage-based or flat rate billing are a must.

Key to success starts with sophisticated cloud-based billing and outstanding customer care. Cloud-based billing allows service providers to efficiently manage the peaks and troughs in data usage. And with the ability to access cloud-computing resources on-demand, service providers gain a low risk, high reward proposition with fast time to address spikes in data usage.

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To successfully address top-of-mind big data monetization challenges, service providers need a digital customer management and commerce solution that delivers:

  • Scalability to handle the usage spikes experienced during global events, as well as the ability to process billions of records without fail, while balancing to the penny
  • Security to ensure operational efficiency with high performance, end-to-end business process automation and real-time performance monitoring through a fully secured, best-in-class cloud environment
  • Reliability to support the “experience is everything” consumer mindset when addressing the data demands generated by global events

With capabilities such as these, you will be well equipped to not only support this years’ data frenzy – but monetize it.
Learn more about data monetization strategies , please contact me meri.christenson@amdocs.com

Monetizing the global data frenzy