The world’s major telecoms operators are seeing their business squeezed by new firms, many of which offer services that make use the operators’ networks, but bring little or no benefit to the operators themselves. In areas where networks once made most of their money, margins continue to shrink. In the face of this competition, telecoms firms need to move fast to reinvent themselves and grow their profits.
While the future may seem bleak, the established telecoms operators have two trump cards up their sleeves: saleable Big Data and customer trust. If they play them in the right way, they’ll help transform the companies back into the industry’s innovators.