Understanding customer experience

How AI & ML Change Customer Experience and Data Analytics

Artificial intelligence has changed the way brands connect with customers, making it easier to create personalized experiences and nurture long-term relationships. According to Adobe’s 2020 Digital Trends in Asia Pacific report, more companies are embracing AI and ML as a way to bridge the gap between the high-volume, high-velocity data being generated and the ability to use that information to engage customers in real-time.

For marketers, bringing more automation into the mix is huge. The report touched on an important point: over the past several years, marketers have amassed more and more customer data, along with a growing list of responsibilities. As AI-enabled platforms become more accessible, there’s an opportunity for marketers to gain some of their time back by eliminating ad-hoc manual efforts that prevent them from creating real value for consumers.

The Salesforce 2020 State of Marketing report found that AI adoption has grown by 186% since 2018, and 92% of marketers now have an account-based marketing (ABM) program. AI tools allow organizations to leverage real-time insights to engage customers as they browse a brand’s website. Brands might serve up content that speaks to specific pain points. In sales, AI is becoming an essential tool for lead scoring, and can also help determine the best steps to take next based on what tactics have historically been successful at various stages in the sales cycle.

In financial services, banks use Big Data analytics to improve the customer experience by tracking milestones like weddings, births, college, home purchases, and retirement, and then using those insights to deliver relevant offers. In healthcare, Big Data analytics are being used to provide personalized patient journeys and improve health outcomes.

Customer Insights and Data Analytics Set the Stage for Success

Technology is redefining the current relationship between brands and consumers. As customer expectations continue to reach new heights, a data-driven customer experience is no longer the exclusive domain of tech giants and well-funded startups.

Organizations in banking, retail, insurance, healthcare, and countless other sectors are now competing on experience. Without Big Data analytics, rising to emerging CX challenges won’t get any easier.

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