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Together with a major global telecommunications company, Target Reply has developed an automated system for the transformation of raw data in order to create a new flow of economic revenue (Data Monetization). In addition, this solution aims to convert mobile data into geospatial information for decision makers in sectors such as retail, mobility, tourism, outdoor media and public administration.
Data Monetization is the process that looks at company data from a different point of view, because these are not only internal resources but can also hide important value for other companies. The data is complex, different, and similar at the same time, and so on. But the most important thing is that our choice is guided by data.
Collecting data is not enough to capture its value: it must be refined, analyzed and governed to transform it into value. Data monetization is the process of refining data. Good data monetization ensures maximum value from data by maximizing profits, reducing costs and optimizing opportunities for organizations, customers and partners.
Every telco is constantly looking for new ways to increase revenues and profits, but often there is no awareness of their 'treasure' or there are no skills to exploit it. The mentality must move from a top-down approach (creating business problems and then retrieving the right data) to a bottom-up approach (starting from the data to find out which current or new business problems to solve). This tactic gives telcos a concrete starting point, a more realistic assessment of benefits, and a greater understanding of what is really necessary to do to realize long-term benefits. The objective of these telecommunications companies must be to promote growth and increase the efficiency and profitability of the entire data value chain for internal/external purposes.
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For the Retail sector, telco data is used to understand the profile of store customers and potential customers in the areas surrounding the store. The analysis of demographic information, the flow of people and the presence of competitors are a support for retail companies for decision-making (e.g. opening new stores, staff optimization). These analyses are also intended for cities, public companies and tourism engaged in the development of Smart City. Improving services, optimizing traffic, monitoring events can increase their efficiency. The analysis of presence within external areas can also provide information to the OOH market for advertising campaigns and to the real estate market for investment and pricing decisions.