One of the biggest challenges that telecom industry executives face is customer churn. While churn rates vary by country and by provider, annual churn rates for telecom companies average between 10 percent and 67 percent, according to the Database Marketing Institute. And while there are a variety of reasons that customers disconnect from wireless providers in particular - dissatisfaction with the quality of service, cost, poor customer support - the use of customer data and analytics is providing decision-makers with new ways to identify potential triggers for churn and opportunities to strengthen customer relationships.
The way we communicate is rapidly changing. Texting is becoming the preferred means of mobile conversation and some companies are abandoning voice mail.
Companies everywhere recognize that 'knowing your customer' is critical to today's business practices. Data quality tools and techniques are vital to that process.
Marketers must effectively communicate their requirements for customer data analysis versus analytics to support their customer-centric marketing programs.
