Razorsight (News - Alert) Corporation, the provider of cloud-based analytics solutions for Communications Service Providers (CSPs), has released a bold infographic, $2 Trillion (News - Alert) Reasons Why We Love Telecom ($2TRW), which talk about emerging revenue trends and hosted billing specifics for global telecommunications industry.
The company’s telecom worth is two trillion dollars. Its first Infographic says that it believes it's very insightful and can even explain to kids what one does at work. Razorsight Corporation has telecom industry insight and is eager to share.
This infographic reveals a lot about today's telecom industry. It provides information if one wants to know the size of the world's phone bill, if curious about which country takes the largest chunk of it. How many billions of dollars are lost in billing errors is also there.
Technology consumers and analysts will be concerned about the surge in mobility and social media in the sector. Communications company executives will show concern by the amount of revenue being lost due to improper billing.
Social media is important part of telecom interaction with industry responsible for 5.8 percent of the world’s gross domestic product (GDP). Research by Accenture (News - Alert), Gartner, and the Insight Research Corporation shows that data revenue is increasing at an exponential rate, also increasing unprecedented bandwidth usage. Study shows that by the end of 2012, there will be seven billion mobile subscribers worldwide, largely consuming mobile data. Also, voice revenue is on a slow decline.
“Today, we’re managing the revenue and billing analytics of more than 75 global customers, scrutinizing two billion daily network events and effecting in excess of 130 million service subscribers,” stated Razorsight CEO Charlie Thomas (News - Alert), highlighting information from $2TRW.
“As the mobile telecom user base and ecosystem grows, the complexity of networks, systems, billing and managing data becomes overwhelmingly complex. This is where Razorsight's cloud based analytics tools add value to any CSP (News - Alert) navigating this rapid sea change, controlling costs, improving margins, and maximizing return on network infrastructure and assets," Thomas added.
The study also shows that worldwide annual growth in telecommunications service provider revenue is 5.3 percent, the Asia Pacific region drives the highest annual revenue, with North America claiming the third highest, in North America, of $460 billion a year is spent on telecommunications services, an alarming $32 billion is lost annually due to billing errors, and worldwide that number is $75 billion lost in annual revenue.