By: Hemang Davé
Data monetization in the telecommunications industry is undergoing a transformation.
With costs rising and margins shrinking, communications service providers (CSPs) can no longer rely on selling user information to third parties as their primary revenue strategy. Instead, telecommunications companies (telcos) must think creatively and pivot to remain competitive in this continually evolving market.
Whether you’re already updating your company’s data monetization plans or you’re still searching for inspiration, the three use cases below should help spark new conversations about how to generate revenue using your enterprise’s data trove.
Use case 1: IoT and IIoT applications
The advent of 5G, coupled with distributed cloud architecture and edge computing, allows telecommunications providers to host content, applications, and information closer to the end user.
By designing edge solutions that connect IoT devices over secure cloud platforms, telcos can help enterprise-level customers incorporate AI and other next-generation technologies into their operations. End users can then use these applications to boost productivity, increase efficiency, and improve workplace safety,1 all while enhancing experiences for their customers.
Recently, our team collaborated with an alliance partner and Bucknell University2 to develop a predictive maintenance solution for wind turbines that illustrates one of myriad possibilities for IIoT and IoT applications. Utilizing edge computing enabled by software-defined wide-area networking (SD-WAN), the invention is designed to improve safety and reduce downtime for wind power plants.
Once activated, a thermal camera can send images of the turbine to an edge node, where a machine learning (ML) algorithm analyzes the images to detect abnormalities in the turbine operation. SD-WAN provides a secure uplink to send the analysis results to an operations center.
Running a ML algorithm at the edge also dramatically reduces bandwidth usage and can provide intelligent, real-time decision-making capabilities. The software can even send commands to the local programmable logic controllers (PLCs) to shut down the wind turbine automatically, without human operator interaction, to prevent catastrophic turbine failures.
Increase your B2B market presence. The number of enterprise IoT connections is expected to surpass 16.7 billion by the end of 2023 and reach a market value of $483 billion by 2027, generating significant demand for 5G networks.3 Companies in the manufacturing, retail, and transportation industries will drive much of this growth as they combine private 5G networks with cloud capabilities to develop secure, personalized, low-latency applications for both internal and external uses.