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Chief Data & Analytics Officer, Partners Federal Credit Union at Walt Disney
Profile coming soon...
There's more...Here's what Juan had to say when we spoke to him in the lead up to the event:
Do you anticipate privacy regulations to affect the ways in which telcos are able to monetise their data – and if so, how so?
Will predictive analytics transform the relationship between telco and subscriber?
[Juan F. Gorricho] Absolutely. From my perspective, any industries that are rich in data have a significant amount of opportunities to transform the customer experience through the use of data and analytics. The opportunities range from using data to personalize the experience, to predict when an experience or interaction will not be a good one to intervene ahead of time, to recommending new products, and detecting and preventing fraud. The key is how to approach those opportunities. In my experience, any strategy should aim at realize that value while keeping a balance on people, process, and technology.
What’s the next big trend in analytics?
[Juan F. Gorricho] Overall, there is a lot of noise in the analytics space. Indeed, some companies are doing some fantastic things with data and analytics and you constantly hear about Hadoop, machine learning and many other hot (or overhyped?) topics. To me, many companies, perhaps the majority, are still struggling with basic data management: what data is out there, how you build analytics teams, how to integrate data successfully, and, most importantly, how to extract business value out of it. Adopting the next big trends in analytics will only drive business value if companies clearly understand where it fits in their strategy. Adopting it for adoption sake can actually destroy value and it can also have the side effect of key sponsors such as executives and boards of directors become sceptics about the value of analytics.
Can telcos effectively monetise subscriber data?
[Juan F. Gorricho] Absolutely. Well managed data can become a valuable asset. There are plenty of opportunities to monetize data. That said, it needs to be done the right way without jeopardizing the trust customers have put in companies when sharing data. Data monetization strategies should ultimately be aimed at developing better products and services that will improve the customer experience. Not taking this into account will land companies in hot water which can lead to losing their customers’ trust.