Service providers can leverage network and acquisition to create new business models and revenue streams
NEW YORK–Citing World Economic Forum numbers, Douglas Suriano, senior vice president and general manager of Oracle Communications, said digital transformation represents a $10 trillion economic opportunity for service providers and enterprises.
Speaking during the Oracle Industry Connect event in Manhattan, Suriano highlighted trends shaping the telecom and media landscape. The world is going digital, he said, so what are the requirements needed to support that move, and how can cloud computing accelerate digitalization.
“Going digital to us means evolving your networks. To be able to go provide that capability to connect all things, to have bandwidth for all things, to have quality-of-service for all things.” To segue digitalization into profit, telcos need to embrace new business models and acquisitions that drive expansion into new verticals, like Verizon’s acquisition of Yahoo or AT&T’s pending deal with Time Warner, he said.
“We have to change the way we actually work, how we operate our businesses, and how we look at the consumer. We need to look at connecting people and things to create a compelling experience across this digital journey.”
Breaking down that $10 trillion economic opportunity, Suriano tallied $2.3 trillion for telecom/media, $4.9 trillion for consumer/retail, $1.5 trillion for logistics and $700 million for automotive.
“That communications layer,” he said, “that telecom network, those corporate networks…are going to be the horizontal platform that provides the capabilities and the enabler for all that other opportunity.”
Verizon uses Oracle signaling and policy technologies in its LTE core, Suriano said, which is a part of the carrier’s end-to-end transformation. The network “spans enterprises, spans IoT, it spans over 100 million subscribers. They’ve also taken their Hum in-car, connected car service and gone digital with that. They’ve completely embraced this digital transformation…and now they’re evolving to 5G.”
Editor’s note: Oracle provided travel and lodging for this event.Â
