Personalization and Customer Relationship Management (CRM) in AI-Powered Business Intelligence

Abstract

This chapter explores specifically how Customer Relationship Management (CRM) systems are embedded within a wider web of AI-driven BI systems employed in business. It starts with the basics: a definition, a description, and, most important of all, the value of CRM to present-day business strategies. The next part discusses theoretical frameworks that drive CRM and reveals the application of AI to improve the operational efficiency of both CRM and BI applications. The chapter continues the discussion of how AI facilitates advanced customer archetypes of engagement with dynamic personalization and predictive analytics for customer churn. The empirical implementations are also highlighted concentrating on two or three types of useful machine learning algorithms and data mining techniques. Real-world case studies are discussed to provide practical examples of ways of using these technologies. Finally, the chapter lists current problems and challenges and it pinpoints the existing and potential future trends in customer relationship management.