Snowflake, the Data Cloud company, announced the launch of the Telecom Data Cloud, which unites Snowflake’s data platform, Snowflake- and partner-delivered solutions, and industry-specific datasets. The Telecom Data Cloud helps telecommunications service providers break down data silos within companies and across the ecosystem, allowing organisations to easily and securely access data in near real-time, enrich it with machine learning models, and then share and analyse it to drive better decisions.
With the Telecom Data Cloud, Snowflake and its ecosystem of partners can help telecommunications service providers accelerate digital transformation, enable superior customer experiences, maximise operational efficiency, and monetise new data services.
The telecommunications market globally is a ~$1.5 trillion market and with the rapid growth and use of smartphones has led to a change in customer behaviour and their expectations interacting with different business providers. The telecommunications market remains a driver of growth, innovation, and disruption for all global businesses. Internet of Things, IoT and mobile payments, are predicted to increase at a CAGR of 30.1% between 2022 and 2027, and video streaming has amassed around 7.2 billion hours of content viewership during the third quarter of 2022.
The revenue shift from traditional products to innovative cross-industry collaboration solutions requires an evolution of the telecommunications business model. To stay ahead, telecommunications companies must transition away from complex legacy technologies in order to modernise their networks and to deliver value to partners across industries.
Telecommunications companies can adjust to this new reality and use Snowflake to:
● Modernise the telecom network: Snowflake’s Telecom Data Cloud offers a single, fully-managed, secure platform for multi-cloud data consolidation with unified governance and elastic performance that supports any scale of storage, compute, and users.
● Maximise operational efficiency: With one unified platform for all data, teams across IT, network engineering, data science, network operations, and product management can collaborate using data to improve planning, make faster business decisions, rapidly respond to customer needs, better manage network resources, and reduce time to market on new services.
● Advanced AI and ML capabilities: Snowflake and Snowpark enable machine generated data in near-real time using ML models to predict faults, schedule maintenance ahead of time, and to reduce operational downtime.
● Monetise data and applications: Telecommunications service providers can create more personalised data and application service offerings with Snowflake Marketplace and launch innovative new services, including monetisation around advertising and selling IoT data to any industry.
● Leverage industry network of telecommunications partners: Take advantage of a rich partner ecosystem and their industry-specific, prebuilt templates to build valuable industry solutions faster.
“The next wave of growth and innovation in the telecommunications industry will undoubtedly be powered by data and requires collaboration across businesses and industries,” said Phil Kippen, Global Head of Industry, Telecom at Snowflake. “Snowflake’s Telecom Data Cloud unlocks these opportunities by creating one unified platform, enabling secure data collaboration by connecting telecommunications service providers with a rich ecosystem of applications, data, and technology partners.”
Within the Telecom Data Cloud, customers can access industry-specific solutions to leverage best practices, reduce time-to-value, and increase overall impact. Companies announcing new pre-built solutions include:
● Applications Powered by Snowflake, like the one developed by AMDOCS, allow telecommunications providers to modernise their business, including moving to the cloud and 5G monetisation efforts and simplify business processes around charging, billing, and new digital services.
● Snowflake Marketplace partners, like Flywheel, OneWeb, and TransUnion enable live access to a variety of data sources leveraging Snowflake’s privacy-preserving collaboration technology, including satellite, geospatial, or demographic data to unlock new revenue streams and power innovative business solutions.
● Consulting and service companies like Amazon Web Services, AWS, Cognizant, SDG Group, Prodapt Consulting, and Wipro Limited can reduce time-to-value for customers with pre-build partner solutions that help solve for top priority use cases, including integrating OSS and BSS data, maximising operational efficiency, and monetising data to help grow business value.
● Technology partners like Alteryx, CARTO, DigitalRoute, H2O.AI, Informatica, Sigma Computing, and ThoughtSpot provide integrations and out-of-the-box solutions so customers can attain deeper insights and realise the full power and ease of use of the Telecom Data Cloud.Click below to share this article