Seems everyone is talking about Data Science and Artificial Intelligence nowadays. Almost all the media channels are showcasing them as a need of the hour. But what exactly is data science and Artificial Intelligence?
To explain it in simple terms data science is a scientific method in which we can extract useful information from a large set of data.
Artificial Intelligence can be defined as a program designed to perform human like tasks by analyzing data, adapting to different scenarios and solving problems.
Growth comes hand in hand with technology advancements and when talking about Customer Relationship Management(CRM) which handles all lead data, it becomes necessary to have it at your disposal. CRM with the help of Machine learning(ML) will automatically detect important decisions in real time, and in doing so will reduce the cost of operations. Also, ML will help such systems to make high-value predictions & make smarter decisions.
Education Marketing before Data Science
Previously there were not advanced intelligent systems that could help educational institutes to process data, and keep track of potential leads in a well-maintained form.
Data and analytics were not yet used as ‘Essential’ tools in the marketing of schools, colleges, institutes, and universities in India at that time. But now, it is a fast-growing sector which can profit from using data analytics to its advantage.
Analytics can help these educational institutes improve operational decision-making while helping to measure institutional performance against individual goals. Traditionally, most institutes have the data about their students which is usually collected from their admission forms and other applications. Particularly in a typical Indian institute, the data includes combinations of location, previous learning activities, grades etc. Most of the institutes do store this data, but having a more intelligent system that can and aggregate, compare and track the data can come in handy.
Analytics and data science can help organizations get deeper insights into the prospects and can thus help them understand their strengths and weaknesses.
Running a data analysis to pinpoint leads who are at an increased risk of failure, enabling closed-loop lead interaction with suggested intervention actions, communications, and tracking and providing personalized interventions when needed are some of the advantages of using this system.
Making Use of Data Science at Extraaedge
In these years, as a VP Engineer at ExtraaEdge that is into education enrollments, I have seen that institutes have various questions to be addressed. To name a few the questions are ‘Whether enrollments are really influenced by parents’ ‘To what extent do they influence the call of enrollment?’. To answer these questions, we at ExtraaEdge use a ‘Smart Caller’ feature of our mobile app which records all the calls taking place between Enrollment managers(Counselors) and Leads, which is saved at a secured storage on the cloud (Azure).
Fig 1: Visual of Smartcaller feature, powered by ExtraaEdge
With our algorithm, we remove the counselor’s voice and analyze only ENROLLED Lead’s conversation. By doing this, we try to find out the occurrence of commonly used words like ‘Parents, Dad, Mom, Papa…’, the frequency of these words being used and then conclude. This is just one of the many ways that we use to predict enrollments.
Most of the education-related content on websites are targeted at both parents as well as students, to help them find/choose the right course and right college for themselves. Because of this broad outreach, these platforms can be a good source of leads for colleges offering a bouquet of courses in multiple fields, as they act as a single source to give you, as an education marketer an exposure to students from diverse backgrounds.
Another important feature of our application is the ChatBot. With the introduction of Chatbot, you don’t have to be manually be present in order to answer questions that people have. With a 24-hour working economy, the intelligent units work day and night and business operations go on past the regular working hours without having to employ more staff. So with help of ChatBot prospects queries can be answered to a certain level enabling improved customer services.
Fig 2: Illustration of Chatbot, powered by ExtraaEdge
How Does This Help Educational Institutes?
- An efficient & predictive CRM use will reduce operating costs for educational institutes.
- The need to have many employees or bigger operational space will go down.
- Customer expectations will be met which will mean better relations.
- With the help of Chatbot and Live Chat, lots of data can be generated which can be analyzed in the same manner as calls to answer various important decision-making questions.
Will add more data analysis & will talk about several other strategies done by us in my coming articles.
Do look out for this space!
About the Author:
Kanaya Bhattad is Vice President – Engineering at ExtraaEdge – Data Science powered – Sales & Marketing Automation for Education Enrollments. He has 10+ years of experience in the industry. His core expertise lies in software development from desktop, web, and mobile. He is an individual who is not afraid of getting his hands dirty.