Abstract:
Over the past few years, we have seen evolution in the world of internet as well as marketing. New buzzword is Data Science. Data science is all about using predictive models, complex machine learning algorithms and statistical analysis techniques to understand and gain knowledge of the business customers. These data analysis techniques can be utilized by marketers to extract relevant consumer insights in order to design and deliver campaigns to customers in catering their needs and demands. This lays the foundation of answering business questions which help in further expansion of business. This study aims to prove that the need of the hour is to understand the importance of abundance of data that is being generated by consumers and is saved by companies and utilize that data to make customer experience better. This study further explores some of the famous methods used for customer segmentation in telecom industry of Pakistan and also looks into the predictive models used to drive marketing campaigns. In-depth interviews from expert data scientists are used as a mean to gain knowledge into the practical world of data science and this study also explains the gap that exists between theory and practical implications of data science. Study also reveals how data science improves marketing campaigns and how telecom companies are going towards precision marketing. It also explains that due to very tough competitions between major telecom companies of Pakistan each and every company is looking for ways to drive their marketing campaigns successfully by reducing the cost associated with them and increasing the revenue
