Data Insights Across Three Business Units
Verizon relies on advanced analytics that are executed on the Teradata® Unified Data Architecture™ to support its business units. The analytics enable Verizon to deliver on its promise to help customers innovate their lifestyles and provide key insights to support these three areas
Identify new revenue sources.
Research and development teams use data, analytics, and strategic partnerships to test and develop with the Internet of Things (IoT). The new frontier in data is IoT, which will lead to new revenues that in turn generate opportunities for top line growth. Smart cars, smart agriculture, and smart IoT will all be part of this new growth.
Predict churn in the core mobile business.
Verizon has multiple use cases that demonstrate how its advanced analytics enable laser-accurate churn prediction— within a one to two percent margin—in the mobile space. For a $131 billion company, predicting churn with such precision is significant. By recognizing specific patterns in tablet data usage, Verizon can identify which customers most often access their tablets, then engage those who do not.
Forecast mobile phone plans.
Customer behavioral analytics allow finance to better predict earnings in fast-changing market conditions. The U.S. wireless industry is moving from monthly payments for both the phone and the service to paying for the phone independently. This opens up a new opportunity for Verizon to gain business. The analytic environment helps Verizon better predict churn with new plans and forecast the impact of changes to pricing plans.
