LIVE FROM AMDOCS AMERICAS SUMMIT, ORLANDO: The Internet of Things (IoT) is not just a derivative of data but is the equivalent of a “killer app” for big data, according to Amdocs’ Matt Roberts, director, product marketing – big data and strategic innovation.
On day one of the summit, Roberts (pictured presenting below) said that though Gartner had retired big data from its ‘hype cycle’ and replaced it with IoT, he believes the two are connected and share a “symbiotic relationship”.
Big data will give companies a 360 degree view of their customer while also helping them improve their networks, said Roberts, adding that new network technologies such as SDN and NFV are also fuelled by data. He claimed the CRM firm can extract data for its clients to use very quickly.
Jonathan Shmukler, solutions manager at Amdocs Lab, also believes “the big data penny has dropped,” yet companies have their data sitting in multiple systems and are unable to keep track.
He said companies need to go back to the basics and find out how much data they have collected, and what sources of data they have, something most companies don’t know, before they can monetise it.
Shmukler gave the example of one of Amdocs’ clients which sees 4.9 billion events a day, similar to the number of “likes” Facebook gets, yet it is unable to save all that data, or get value out of it.
He also explained that Amdocs tells its clients “physical is virtual”, i.e. many products and services like music streaming don’t need to exist in physical form, and that “occasional is the new constant” – users should be able to sign up for a service temporarily rather than agree to a one-year contract.
He said telcos should focus on “new boundaries” – Amazon sells Comcast services because though it may not provide cable services, it believes it is best at providing an easy and intuitive engagement experience.
Sprint is selling Amazon Prime and Virgin Airlines is selling Netflix services, proving that anyone can do anything and companies must “expand outside their comfort zone”.
On the topic of giving advice, Rajeev Tankha, head of digital experience product and solution marketing, said phone companies should not focus all their energies on millennials, but “Generation C,” which is not limited to a certain age group but rather those who are always connected and early adopters of new tech, who also have more disposable income than millennials.