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.
SYNTHETIC DATA Use cases IN TELECOMMUNICATIONS
Improve model performance by 2-15%
Your fraud detection models only perform their best when they are trained on the right data. Synthetic data helps to create balanced versions of your production data that provide more granularity and depth and that make it easier for fraud detection algorithms to pick up patterns.
Application testing with synthetic data
Synthetic test data is highly realistic and easy to generate. Imagine being able to copy-paste your CRM database without any re-identifiable data. Sounds good? It is! Be is a customer facing app or a database, testing will be faster, easier and more efficient.
Make the most of your CRM data
So many great ideas get thrown away for compliance reasons. No more! Make use of all those golden insights locked away in your CRM data by creating 100% GDPR-compliant synthetic version of your customer data for analytics and AI. 100% data, 100% compliance, zero compromise.