Why do telcos need synthetic data alternatives?
Telecommunications companies are facing multiple challenges these days. Decreasing revenues, tightening regulations, shifting consumer expectations, and there is an increasing demand for seamless data sharing. Regulators are tightening their grip on the sector and what was once standard industry practice is no longer acceptable. This materializes in recent fines hitting the industry, like Vodafone Spain’s record $9.72 million GDPR-fine.
How can synthetic data help telcos?
Synthetic data can provide an easy to access, fully GDPR-compliant data alternative. Synthetic data is ready to monetize and leverage in AIOps, analytics, and product development. Operational costs can be reduced, and new revenue streams can be created.