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Telecom Industry: Data Analytics to IoT
Telecommunications is sometimes overlooked as an industry that keeps the human world spinning. It’s predicted that over five billion people will have cell phones by 2019. About half of those will be smartphones.
Telecom companies are what connect all these devices together, and keep our lines of communication open. This is no small undertaking. Changes in this field will influence humanity as a whole. But to better understand this vital industry, we need to take a moment to reflect on a few new trends currently shaping telecom.
Internet of Things
What is IoT? The Internet of Things (IoT) is a burgeoning technological phenomenon in which all devices are connected and can communicate with each other. Regardless of opinions about whether this is a good idea or a bad idea, one thing’s certain – it’s going to require a lot of data!
Much of the responsibility for this data will likely fall onto the telecom companies; especially if folks are using their cell phones to control other devices. Yup, telecom companies are going to have to figure out how to accommodate the billions of new connected devices.
The necessity of Data in Competition
When you think of data and telecom companies, you probably check your smartphone to make sure you haven’t gone over your monthly limit. However, this isn’t the only kind of data that’s important to this industry.
Data analytics in the telecom industry is a determining factor in which companies will thrive, and which ones will falter. Businesses need to have a strong data strategy to compete in the coming years. The massive decisions involved in running a telecommunications company need to be verified through quantified evidence. Otherwise, executives will just be gambling with their organization’s future.
The proposed repeal of net neutrality is one of the biggest headlines for the telecom industry over the past few years. Essentially, this allows telecom companies to slow or speed up access to users. This has been a topic of huge debate because many people feel it gives the telecom companies too much power. Others believe they should be afforded this right since they built the infrastructure. Montana recently took action to force net neutrality within the state. This will be an ongoing debate for years to come.
Increased Security Needs
As more people get online and technology keeps getting better, there will also be more threats to people’s information.
It’s going to be partially the responsibility of the telecom companies to continually work to keep their networks safe from security breaches. This task will only get more onerous going forward.
Lower Costs, Higher Competition
The cost of providing people with high-speed Internet access is going to drastically drop with the adaption of high-grade long-distance wireless connections. Once this fully takes effect, major telecom companies aren’t going to have such a stronghold over the industry.
Smaller providers are already trying to fight their way into the world of cell phone service. This will soon be the case with the Internet as well. Consumers will be the winners here, as costs will need to come down in order to compete in a growing market.
There are many factors at play in the telecom industry right now. It’s important to take note of these forces whether you work in the field, or are just a consumer. Almost everyone is affected by the happenings in telecommunications. After all, communication is the key that unlocks collaboration and potential in our global society.