Collection and management of event data should be standardised to facilitate digital transformation, a conference has heard.

Neural Technologies marketing vice president Claus Nielsen told Digital Transformation Asia "up to 70 per cent" of digital transformation projects embarked on by communications service providers were failing. "This is too high a number and it is statistically shown that one of the biggest contributing factors is the ability to get access to the event data, as well as the right structure of the event data needed to be able to digitise various business processes as part of a digital transformation journey."

He said the issue could be solved by approaching it in "an all-encompassing, end-to-end way" that takes in all aspects of collection and management.

"Such includes collection of the event data, classification of the data, and how it is stored by using a standardised data model, thereby making it primed for downstream consumption."

Event data is generated by logging uses, events, or transactions which have been generated or triggered by people, machines and services, such as switch call detail records (CDRs), Internet of Things (IoT) data points, or customer related activities data like orders, invoices, payments and complaints.