Why Are Companies Developing Artificial Intelligence Tools to Enhance Customer Experiences?

The term 'Data Analytics' is thrown around way too much in the customer experience industry. But what makes data-driven customer experience efforts so much better than traditional tools?

What the Statistics Say
Data analytics isn't a new procedure. Back in 2016, a study by Forbes Insights surveyed numerous global executives. As many as 90% of these execs stated that data analytics enhanced their ability to deliver better customer experiences. Their sales experienced an uptick of roughly 20% after they started using data analytics tools.

These consistently positive reports regarding data analytics tools have caused Data Analytics Consulting Companies to take a central position in the customer experience industry. Overall, these experts offer -

Consistent Improvement: Data evaluation enables enterprises to examine both positive and negative steps. The modern-day marketer knows that customer data analytics are the most honest and suggestive indicators of customer experience improvements. Any customer pain or complaint that's avoidable can be solved by adopting new customer servicing methods on the spot. Consistent improvements in how businesses interact with clients optimize customer experiences. With these tools, businesses may finally reach the goal seemed unreachable in the past – total customer satisfaction!

No More Guessing: In the past, companies and marketers had to 'guesstimate' their target customer's behavior. They would establish an imaginary 'dream customer' and pander to this fictional customer's needs and requirements. Data analytics allows enterprises to leverage the customer data they collect. With the use of analytics, businesses can accurately assess customer behavior, evaluate all interactions between customers and customer support teams, and assess all the reasons behind consumer dissatisfaction.

Know Customers – Data analytics, when used responsibly, can significantly improve the connection between an enterprise and its clients. The data helps enterprises understand the point of view of their existing customers and target customers. The stronger the data analysis, the better understanding companies have about their clients.

Predictive Capabilities – Leading companies developing Artificial Intelligence help brands with data analytics tools to properly analyze customer feedback and customer journeys on business websites. This assessment reveals essential information like -
· How willing is a customer to click on recommended products?
· Whether a consumer is likely to re-purchase products and services.
· Establish correlating effects between the improvements in the AI-powered customer experience tools and the advances in customer feedback.

All of this information helps brands implement targeted marketing strategies that keep evolving and improving over time. Over one year, brands can significantly improve customer-loyalty by resolving all the problems that the data analytics tools predict. They can also budget their marketing plans accordingly. Cutting costs also becomes easier when brands eliminate unimportant and inadequately targeted marketing campaigns.

According to the McKinsey Global Institute's study on customer experiences, data-powered enterprises are twenty-three times more likely to obtain customers than businesses with little data assessment capabilities. Data-powered companies are also six times more likely to attract repeat customers.

Data analytics tools enable procedures like hyper-personalized marketing, customer-behavior forecasting, timely resource management, or streamlined shipping. That's why all the leading companies are developing artificial intelligence tools to enhance customer experiences!