AI and Customer Relationship Management (CRM) software is a major need of the vendors nowadays. Some companies like Salesforce, Microsoft, SAP, and Oracle have all acquired or developed sophisticated AI technology to help their businesses derive better insights from their data.
FREMONT, CA: Gathering data from the CRM to drive insights and make the most informed business decisions isn’t a new concept. Some big enterprises have a team of analysts whose entire job is to dig through data to offer the best suggestions. But, a small or midsize industry doesn’t enjoy that facility. That’s why the growth of AI in CRM is a hot topic now.
With an AI-powered CRM, one has access to deep data analytics in a fraction of the time. An AI-powered CRM allows a company to use predictive analytics and natural language processing (NLP) and helps the team to save time on repetitive, tedious tasks.
Predictive Analytics Scoring Helps to Boost ROI and Supercharge Lead
A CRM with in-built predictive analytics helps companies in numerous ways like the amount of time saved, predictive lead scoring, etc. This tool watches through all the data to find trends about customer behaviors to provide the sales representatives the leads that are most likely to close. This takes place in a fraction of time. Some businesses have never done any lead scoring. It is advisable to them to catch-up by using the predictive analytics tool that an AI-powered CRM will provide.
Save time and money
An AI-powered CRM removes more tiresome and monotonous works such as entering customer data and cleaning it. This seems to be one of the strong reasons why a company should prefer this software as it not only makes the work simpler but also saves a lot of time. Saving of time and automation means one needs less manpower to keep these data and update, which in turn results in the saving of money.
Natural Language Processing (NLP)
Natural language processing (NLP) uses AI to interpret and evaluate the huge amount of written or spoken words to understand the sentiment, tone, and meaning of the message. It’s been around for a while in use in other fields, but is starting to be used in customer service to help firms maintain good relationships with their clients. NLP can help firms derive insight from the most common channels of communication—phone, email, and live chat.