Based on the typical naming conventions used by ZTE for their networking hardware (specifically routers and ONTs/ONUs), usually refers to a specific branch of firmware updates.
If you have downloaded the firmware file (usually a .bin file) from a trusted source: zte software v01b07 upd work
Device will reboot into Recovery Mode to apply the patch. "v01b07" Based on the typical naming conventions used
4pda.to (Russian, use translation tools)xda-developers.com (ZTE modem section)