Statistical model based on customer data that is capable of predicting their behavior in future consumer situations.
Published in Chapter:
Studying Customer Experience and Retention Using Applied Data Science and Artificial Intelligence
M Dolores Méndez-Aparicio (Open University of Catalonia (UOC), Spain), María Pilar Martínez-Ruiz (University of Albacete, Spain), Alicia Izquierdo-Yusta (University of Burgos, Spain), and Ana Isabel Jiménez-Zarco (Open University of Catalonia (UOC), Spain)
Copyright: © 2021
|Pages: 31
DOI: 10.4018/978-1-7998-6985-6.ch009
Abstract
Data science has established itself as a discipline of study in the new technological paradigm of the 21st century. Customer data and metadata are not only unique opportunities for companies that are interested in collecting, processing, and elaborating useful information for customer-centric business management. They are also starting to feed other disciplines, such as industry and computer engineering, which are developing new ways of organising information and intelligent response, where significant technological advances in facial, sensory, text, voice, and image recognition are constantly emerging, with response capabilities ever closer to human thinking. From this continuous interaction emerges a new asset for companies: knowledge. Thus, science applied to data is consolidating as an opportunity for companies in customer loyalty and retention by being able to include a relevant aspect in human relations such as warmth and empathy, basis of marketing 5.0, oriented once again towards human relations, from a virtual existence and total digitalisation.