Maximizing the 5G and IoT Monetization Opportunity
CSPs are poised to capitalize on the transformative power of 5G, enabling use cases like network slicing, partner ecosystems and more. But to distinguish themselves and stay ahead, CSPs need to get to market faster to maintain gains. The 5G and IoT data surges are just beginning, and CSPs need a future-proof, agile architecture in place to effectively monetize the opportunity.
Digital mediation—the process of capturing, correlating and converting raw usage data into actionable insights—sits at the network edge and is a crucial enabler in the process of monetizing new technologies and services. Currently, mediation systems are run almost exclusively on bare metal hardware and in on-premises data centers. The current status quo hinders operations because of capacity limits, which results in long lead times to commission new infrastructure. This effectively blockades CSPs from monetizing 5G, IoT and digital services.
The optimal, virtualized solution supports high volumes, new data types and constantly evolving use cases. While the concept of virtualization is nothing new, businesses are progressively moving away from on-premises solutions. Nearly 70% of enterprises are moving business-critical applications to the cloud. By transitioning to the cloud, CSPs can manage customer needs in real time and scale elastically, tying costs to immediate demand as opposed to the traditional method of paying upfront to account for surprise surges. Running a mediation solution in the cloud will optimize systems for revenue management, service fulfillment and service assurance.
The move to the cloud will pave the way for automated instantiation, repeatable configuration deployment and auto-scaling. These capabilities enable CSPs to drastically reduce operational costs and facilitate new and innovative business models. As the implementation of 5G and IoT ramps up, cloud-architected solutions will be crucial for processing data at an unprecedented scale.
With an agile digital mediation solution, CSPs can seamlessly and effortlessly support 5G digital monetization and simplify integration with big data platforms. To learn more, download our eBook on the three key digital mediation challenges—and how to solve them.