By Mohammed AWAL, Barcelona, Spain
Industry experts highlighted the paramount importance of collaboration in successfully leveraging big data for 5G monetization during a session titled “Leveraging Big Data for 5G Monetization” at MWC 2024 in Barcelona on Monday.
Since its commercial introduction in 2019, the global user base of 5G has surged to 1.5 billion within the last five years.
This milestone was achieved in a significantly shorter timeframe compared to the nine years it took for 4G to reach the same level. Presently, 20% of mobile subscribers worldwide have embraced 5G technology, generating 30% of the overall mobile traffic and playing a substantial role in contributing 40% of mobile service revenue.
In light of these statistics, telecommunications companies are turning to big data as a key asset for 5G monetization. Experts unanimously agree that collaboration is crucial for unlocking its full potential.
Emma Keedwell, Head of Innovation at Vodafone Business UK, who was one of the speakers at the session, emphasized the need to involve policymakers and customers in the data usage strategy. “I think we need to collaborate with policymakers and customers. We need to get customers to buy into the data strategy, share it with them, show them our strategy, and be honest about our business model,” stated Keedwell.
Customer Engagement and Persuasion
Matt Dugan, VP, of Data Platforms at AT&T, underscored the significance of customer engagement and persuading them to embrace the data strategy by transparently showcasing the strategy and providing a clear understanding of the business model.
“This creates a foundation for trust and collaboration that is essential for successful 5G monetization. The number one thing you can do is to provide transparency back to the customer regarding the utilization and collection of their data. Outline the process they can go through in between. If those pathways are unclear, the viability of transparency, and consequently, the viability of use cases, is compromised,” he stated.
“And so for us, especially speaking more locally towards AT&T, we have engaged in that as an enterprise for the past few years, and we ultimately determined that our focus was going to be on developing that first-party relationship with our customer directly. Then, where we do partner, and we have offerings that will go to that customer through us, that’s certainly possible – for instance, through ecosystem providers like connected cars, which are very popular in the United States. A lot of that runs on the AT&T network, but the engagement is through the brand of the OEM, the vehicle provider, for example.
“So, for us, at least domestically in the United States, we don’t monetize customer data through regular channels like advertising, marketing, or selling data insights. If we’re doing it, we’re doing it through a known OEM or other brand-level relationship, providing a value exchange back to the customer,” he added.
The event highlighted various case studies and success stories from companies that have effectively collaborated with stakeholders to drive 5G monetization. Discussions ranged from innovative business models to strategies for navigating regulatory landscapes, all reinforcing the idea that collaboration is a linchpin in the path to success.
