75% of Operators are unprepared for Digital Transformation - Neural Technologies 2017 Survey
Author: Luke Taylor CCO & Deputy CEO
Date: 18th May 2017
Categories: Technology, Data, Financial, Telecoms, Revenue Assurance, Fraud protection, Optimus, Neural Technologies, Big Data, Revenue Management, Digital Transformation, Digital Integration
The total number of connected devices in use globally is projected to grow from 10 billion in 2013, to between 19-40 billion by 2019. The overall global impact of IoT technologies could generate anything in-between $2.7 trillion and $14.4 trillion in value by 2025.
A recent survey by Neural Technologies asked whether respondents had implemented an IoT digitised data processing platform, and discovered that 76.8% had not. In order to keep up with the digital transformation occurring in the industry, these operators would be well advised to begin the procurement process sooner rather than later and avoid being left behind.
The digitised data provided by such platforms holds huge value since it stems from user communication habits and data that can be gathered from the networks concerning services, location and application performance. It stands to reason, then, that virtually any amount of investment into IoT / Data Integration platforms will not only be worthwhile, but could prove vital in supporting connectivity, billing and digitised data processing, which would in turn benefit company growth and customer experience.
When asked to rate what they consider important in an IoT / Data Integration platform, 26.8% of respondents cited Total Cost of Ownership as the number one most important factor, showing that value for money is still at the forefront of operator decision making. Whilst this is understandable, operators are sitting on a potential goldmine when you think about the mammoth amount of digitised data they collect and hold and therefore they should contemplate the upside of investment in Digital Transformation.
It was encouraging, however, to see that almost a quarter (23.2%) of respondents had already invested in IoT since it is very much the early stage of IoT service roll-out and we are well in advance of the mass-market, multi-billion endpoint IoT ecosystem that is to come.
The Internet of Things and, indeed, Internet of Everything IS coming, of this we are sure, so the 76.8% who have not yet invested in platforms which will enable them to manage, scrutinise and use their data effectively, are running the risk of losing out to those who have already adopted them. In a highly competitive and fast-paced market, operators cannot afford to lag behind, or their customers will leave them for those offering better deals, better service and better prices – all of which will be supported by IoT / Data Integration platforms.
Here at Neural, we have been concentrating on creating products that support businesses’ digital transformation strategies. Our Optimus platform delivers new business models faster, enhances customer loyalty and improves operational efficiency, because we know that this will be crucial for businesses in the coming months and years. For more information, please contact me at firstname.lastname@example.org, or download our survey here http://vptoolkits.com/boss-transformation/?so75%=VP-feat.