Leveraging analytics is the best way to improve telecom strategies. With analytics, it is possible to attract new customers and strengthen bonds with existing customers. There are many facets to analytics, which can help minimize churn and at the same time improve customer experience management. But the analytics need to be integrated into a where all services are charged and rated.
OCS: The Powerhouse of Data-Driven Billing and Charging
are two important roles of a centralized charging system like Online Charging System (OCS). With an OCS, it is possible to charge a service in literally a fraction of a second, under 250 milliseconds to be exact. With a next-gen OCS, you are not only able to perform accurate charging but also unleash the power of Big Data analytics.
Some important functions of an OCS that are sought after by MNO, , and are:
Enforcement of credit limits
A 3GPP compliant OCS enforces credit limits accurately, which means customers are informed at the right time when they are about to exceed their allotted quota. Thus, there are less disputes and more customer satisfaction.
Easy and quick monetization
When all the services are charged at the same place, it becomes easier to package them in interesting service packages. With the correct , you can monetize services in an innovative manner i.e. you can stack up completely different services as part of the same bundle package and offer it to your subscribers. Such monetization is beneficial for MVNOs who are always looking for new ways to lure new customers. Moreover, the monetization is done quickly, which means there is next to no delay in the conceptualization of a strategy and its delivery.
Revenue assurance
Customers' trust is an intangible commodity, but its value is higher than other tangible commodities. If you have a customer's trust, he will bring in more customers. But if that trust is lost, your existing customers will start moving away. Therefore, revenue assurance is crucial. With a , you can ensure that customers are delivered the exact quality and quantity of services that they are promised, and they are never charged anything extra.
Reporting
Data of every customer transaction needs to be reported in a timely manner, so that you can understand what's going on. At , you get timely reporting of every transaction. We also leverage Big Data analytics and provide you timely insights, which can be used to form better business strategies.
Note
https://www.launchora.com/story/implement-data-driven-approach-with-analytical-bil
https://www.onlinechargingsystem.com/
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Implement Data-Driven Approach with Analytical Billing and Charging
Short StoryA convergent charging system also helps you monetize the services faster. This happens because every service, whether it is event based or session based, is charged at an individual platform. So, it is easy to transform a plan into quick action, and...
