03 May 2022 04:56:25 IST

Tech trends in marketing students need to know

W hat is the role of technology in marketing? Are there any tools which are used by marketers? What are the tools and technology as a student we should know before entering into a marketing career? - Gulshan Kumar

Technology plays an important role in marketing and it will only increase in the years to come. In my opinion, technology can assist marketing in broadly two ways:

Marketing analytics: The use of data has always been critical in making marketing decisions, however, it has become even more so as consumers’ use of technology has increased. The use of apps, different devices, social commerce, and live commerce, all lead to the generation of huge amounts of data. This can be useful only if it is analysed and becomes an aid for decision making. For example, imagine the quantum of data generated from their app, that Swiggy and Zomato have to deal with. There is a dire need for skills in this area.

AI and ML: Organisations across industries are moving toward the use of Artificial Intelligence (AI) and Machine Learning (ML). Based on the data generated, predictive modelling is useful. These models help in constantly adjusting to foretell what consumers might want next or aspire for.

For those who are interested in this field, it is important to arm oneself with knowledge of managing and analysing data in a meaningful manner, that is useful for executing marketing decisions.

(The expert is Associate Dean and Professor of Marketing, Bhavan’s SPJIMR, Mumbai.)