How AI Technology Helps Understanding Customer's Better?

How AI Helps to Understand Customers Better?

Understanding their customers is the key to success for any business. A clear understanding of customers’ needs and expectations helps enterprises to tailor their products and services efficiently. In today’s scenario, technology makes it easier to understand customer behavior. Artificial Intelligence and machine learning can be efficiently utilized for collecting and analyzing the behavioral data of customers. Artificial Intelligence is capable of continuously learning and improving from the data it processes and is able to predict customer behavior. This allows brands to understand the needs of the customers and provide highly customized services and products. This will improve customer engagement and increase sales prospects.

Many business leaders strongly believe in the role Artificial Intelligence can play in understanding customer data and in enhancing customer experience.
Sven Feurer, senior director of engineering and operations at SAP Customer Experience, emphasizes that key customer-facing business verticals such as marketing, sales, and customer service teams, must efficiently utilize AI and related technology to connect with customers more personally.
Mike Orr, CEO of Grapevine6, has an interesting insight for redefining customer experience on any content platform. He believes that the effective utilization of natural language processing (NLP) in the content development process can help content platforms gain valuable insights into individual customer experiences. These insights can provide context for future client interaction, which is an amazing tool for content platforms to achieve high-level customer engagement.

Real-Time Decision-making and Predictive Behavior Analysis

Real-time decision-making is the ability to make a decision by analyzing the data from a customer’s current interaction with a business or a service. The specialty of it is that the decisions are made with near-zero latency.
Real-time decision-making can be used for more effective customer engagement. For example, it can help identify customers who are using ad blockers and offer them alternative UI components. Because of such informed real-time decision-making, customer engagement is maintained.

By analyzing the real-time customer data, enterprises can present hyper-personalized, relevant content and offers related to the services and products that they are interested in.
AI uses predictive analytics to produce real-time, actionable insights that are vital to planning further engagement with a customer. Predictive analytics refers to the use of statistics, data mining, and modeling to anticipate the next move by the customer.

Hyper-Personalization of Content

Hyper-personalization is delivering highly relevant content to a specific customer by analyzing their real-time data using AI.
AI Technology help vendors analyze gargantuan amounts of data quickly and decide upon the best value offer or the most relevant content to their customers.

Interactive Video Content and Customer Engagement

You are watching a video that teaches you how to make a delicious ratatouille recipe. The cook is using some really good quality utensils that you like to buy for yourself. How would you like it if those utensils are presented in an interactive side panel alongside the video player and clicking on the items would present more details of the items and present a link to buy them? Wonderful it would be, right?
Such Interactive videos that drive conversion directly from the content enhance customer experience and engagement to new levels. Customer engagement with the video takes place in a side panel where related service, information, or product thumbnails are presented based on what is featured in the video. Customers can tap the thumbnail to access the service, or add the item to a shopping cart for immediate purchase, or be linked to a web page for more information. Customers are even presented with a 360-degree spin view of products.
A visual summary of all offerings is again displayed at the end of the video to drive a call to action. Actionable and specific experiences such as these increase customer engagement and conversion.

Conclusion

Understanding the customers precisely and serving their needs is the key to success for any business. This becomes particularly complex in the current scenario where the customers are highly distracted and demanding at the same time.
It is imperative to tailor the offerings as per varied customer interests in order to be heard in today’s fiercely competitive market space.
Artificial Intelligence is a technological boon for doing exactly this. AI and associated technologies such as machine learning, predictive analysis, and cloud computing help businesses understand their customers better in real-time and customize their services according to customer needs.
Hope this article has helped you know more about How AI helps in understanding Customer’s Behavior Better. Konverge Technologies can help you with our Best-in-Class Intelligent Automation Services.

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