The increasing neck-to-neck competition in gaining more subscribers or users creates a substantial need for telecom companies to set optimal prices for their products and services.
Data analytics helps the industry gain accurate data insights and create optimal pricing strategies to make proactive decisions by analyzing customers’ reactions to different pricing strategies, purchase history, and competitor pricing.
In addition, the telecom service providers can analyze the profitability of specific price points, identify the perceived value of their product or services, maximize their ROI, and improve the effectiveness of their salesforce.
Benefits for the company
Optimizing the pricing strategy based on revenue and profitability can boost sales and profit, help gain more customers, and most importantly, retain loyal customers.
Type of expertise/ AI domain
Classfication, Clustering – Machine Learning algorithms
Internal data required
Usage, pricing, customer – Locatoin based data