When you use AI to help guide customer relationship management, machine learning helps you close more leads and optimize the revenue you’re getting from each one.
Whereas some AI projects are focused on reducing expenses—for example, by reducing manufacturing downtime—CRM-oriented AI projects are focused on expanding top-line revenue. CRM is a very strong fit for machine learning, because normally you have already gathered a lot of data on your market and your customer base.
If your company has been around for a while, you have data that describe past interactions. Information about the length of a sales relationship, the industry your client is in, the nature of the relationship, and the length of your typical sales cycle can all be leveraged into a predictive model. As a result, you can increase revenue and make more sales.
by Brian Goodwin, PhD