Trend Analysis: Implementing a Flexible Plan to Predict Future Business Projections
Trend Analysis in the Telecommunication Industry
About the Client
The client is a Fortune 500, multinational telecommunication services provider. Since being founded in Germany, the telecommunication industry player has gone on to become one among the top five privately-held telecommunication companies in Berlin. Owing to intense competition the client was looking at developing a market trend analysis report through which they could predict the future of telecommunications.
The telecommunication industry continues to be a critical force for innovation, growth, and disruption across multiple market segments. The wave of developments relating to smart cities, IoT, 5G, and data management is creating new and better opportunities for those operating in the telecommunication industry as well as other related market segments. The challenge here lies in identifying the telecommunication industry trends and capitalizing on opportunities to stay relevant in the future of telecommunications. In this case, the client was on the lookout for analyzing new growth opportunities in 2019, by performing an analysis of past and current market behaviors and dominant patterns of the market and consumers. To do so the client approached Infiniti Research to leverage trend analysis methods and develop a market trend analysis template.
Since market trend analysis involves understanding past market behavior and expected future innovations, a major effort in conducting market trend analysis is dedicated to collecting relevant market data and analyzing them to determine relevant telecommunication industry trends.
Wonder how the telecom industry can adapt itself to the requirements of the new age? Well, our experts say telcos can continue to achieve high growth through trend analysis. Get in Touch!
Top Challenges Faced by Telecommunication Industry
Problem Statement 1
Technical transformations and information waves have driven high growth in the telecommunications industry. The client was facing predicaments in collecting relevant data regarding telecommunication industry trends and the adoption of technology, due to which they were lagging when compared to their peers.
Problem Statement 2
The saturation of revenues for voice services along with the developments of mobile communication in the past decade necessitated the client to develop robust broadband services while tackling challenges of cost and traffic. This required the client to analyze telecommunication industry trends to predict the future of telecommunications and achieve sustainable growth by focusing on developing mobile broadband services rather than voice communications.
Problem Statement 3
Struggling with decreasing revenues the telecommunications industry client was pushed to make tough business decisions. Hence the client wanted to keep abreast with the top telecommunication industry trends and be flexible enough to quickly adapt to them.
Staying competitive in the market requires businesses to make crucial decisions, possess in-depth knowledge of market trends, and key developments. Trend analysis can help you get there, Get in touch for more info!
Solutions Offered and Value Delivered
The market trend analysis solutions offered by Infiniti Research involved the process of comparing the clients’ current market behavior and dominant patterns of the market to identify consistent trends. The information gathered was then leveraged to develop a strategy to respond to these trends in line with the client’s business goals. The client also gained in-depth insights into- the telecommunications market scenario, consumer preferences, and the macroeconomic environment. Market trend analysis turned out to be a strategic tool for understanding the market maturity and gauging the future market potential along with the client’s overall market position.
Market trend analysis helps you understand how your business has performed and predict where current business operations and practices will take you. If done well, it will help you develop ideas about how you can mitigate challenges and develop strategies to move your business in the right direction. This market trend analysis engagement involved the following phases:
Phase 1: Identifying Areas that Perform Well
The initial phase involved the process of comparing the clients current market behavior and dominant patterns of the market over time to identify consistent results.
Phase 2: Guiding Communication with Customers
The second phase of this market trend analysis engagement revolved around a detailed assessment of customer behaviors to develop the best possible strategy for communicating with customers.
Phase 3: Identifying New Market Opportunities by Analyzing the Competition
A market trend analysis engagement isn’t complete without thinking about the market competition. Hence the second phase of the market trend analysis engagement revolved around analyzing competitor weaknesses to help the client differentiate themselves by offering products and services that fill gaps that their competitors have not addressed.
Phase 4: Developing a Market Trend Analysis Report and Establishing Telecommunication Industry Trends
By monitoring the client’s business performance over an extended period, our market trend analysis experts were successful in establishing useful information on trends. This data was then used to refine their business decisions and strategies.
Leveraging market trend analysis methods helped the telecommunication industry player to cut down costs and implement a flexible resource ramp-up or ramp-down plan based on future business projections. The development of a market trend analysis template also helped the client to identify key business areas that were underperforming and areas where their business was performing well, this helped them leverage those strategies and duplicate the success. The solutions also provided sufficient evidence to make well-informed business decisions.
Why partner with Infiniti Research?
Established in 2003, Infiniti Research is a leading market intelligence solutions provider, specializing in offering smart solutions to address your business challenges. With 15+ years of expertise, Infiniti Research has been instrumental in presenting a complete range of competitive intelligence, strategy, and research services for over 550 businesses across the globe.
Done well, market trend analysis can help you develop better strategies and gain a competitive edge in the market. Wonder where to start? Request a FREE proposal below