5 February 2021

How data & AI push marketing and customer service towards better experience in 2021

How can you use data science and AI to improve customer acquisition and retention? And how can your customer data contribute towards nurturing your customers and increasing customer value?

Our January webinar delivered 20 minutes of thorough analysis of what data science can do for you. Our data experts, Jiří Lužný and Václav Janoušek, addressed the topic with several practical use cases of applying data science & AI to improve your marketing strategy and customer service.

Many businesses are facing complex challenges in terms of data use; not just those related to the data itself, but also data governance, privacy, and security. The majority of the challenges can be also attributed to data being locked in multiple siloes. The practical benefits of gathering customer data go well beyond just recording information of their past actions. AI and specifically machine learning can be used to process large amounts of data and to predict the outcome of future events. The power of machine learning allows us to get to know our customers much better. As a result, we can optimize our interactions and touchpoints, and improve the entire customer experience.

Some practical use cases of AI in digital marketing include:

  • Propensity models to identify the right customers to motivate towards cross-selling and upselling
  • Sentiment analysis for real-time monitoring of customers' emotional response based on reviews and ratings of products and services
  • Recommendation models for e-commerce to create and suggest targeted product recommendations to specific customers
  • Customer value prediction provides value of future spending by customer and based on that it lets us craft personalized promotional offers to them
  • Customer value segmentation analyzes customer value over time, gives insights on the value and lets us improve our marketing activities.
  • Next Best Action (NBA) modelling is especially suitable for optimizing the customer journey.

From the implementation point of view, data-driven approach is typically dependent on having true 360° customer view. Our experts begin with building a cloud-based Customer Data Platform (CDP) which aggregates data from different data sources to create the 360° customer profile. The data is processed through AI, machine learning and Business Intelligence logic to create relevant insights, create predictions and activate the data towards marketing and CRM automation platforms.

Would you like to get more detailed information, tips or advice for your business? We offer the Isobar Expert Hour initiative: a free, one-hour-long consultation with one of our leading data experts, including Jiří Lužný and Václav Janoušek. Book your consultation here