Until recently, businesses were blind to the valuable insights hidden in unstructured content.
Despite millions of customer data available, leveraging this data to understand the needs and to do target marketing is becoming difficult for the businesses.
A recent study by DataMeer found customer analytics dominate big data use in sales and marketing departments, supporting the four key strategies of increasing customer acquisition, reducing customer churn, increasing revenue per customer and improving existing products.”
As a result, the businesses started looking for innovative solutions like AI, Machine Learning & NLP to bridge the gap and improve their bottom line.
Machine learning is transforming Big Data to develop marketing strategies to improve decision-making, leverage employee expertise, gain customer centric approach and implement best business practices. Machine learning involves the automated analysis of large volume of data such as customer purchase behavior, demographic information and using algorithms to identify patterns and trends. These algorithms learn the pattern based on the available data, analyzes continuously on a real-time basis and enables quick decision making.
In enterprise businesses, Sales, marketing, and channel management divisions are using machine learning to optimize targeted campaigns, compete their competitors, win more customers and enhance marketing ROI.