In conversation with ETCIO, Subodh Kumar, CTO, Magicbricks, reveals how the company is delivering leads with 60% higher accuracy levels by leveraging the power of data.
Data science is much more than just a technological tool, Kumar believes. Explaining the use of data science at Magicbricks, he says:
“In India, information is not well organized, especially in real estate. This is the reason why there is huge potential for data science in this sector.”
Realising the benefits of maximizing data, Magicbricks set up its data science team 3 years ago in Bangalore.
Magicbricks understands that digital strategy is the essence of business strategy. Therefore, the company focuses on using technology to improve business performance, whether that means creating new products or reimagining current processes.
Throwing light on one of the data models developed by the company, Kumar says:
“We have built a model on 75 attributes. These are related to the attributes of knowing the buyer. We capture his behavior on emails or calls when he is talking to our team, kind of contacts he is looking for, his budget and locality expectations, among others. These attributes have helped us know the buyer better. Now, when we offer solutions based on a customer's needs, the accuracy level in those leads has increased by 60 percent.”
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