A Novel Study On Customer Relationship Management Using Artificial Intelligence In The Retail Sector

Abstract

Customer relationship management (CRM) is a set of practices, approaches, and technologies used by businesses to manage and analyze customer interactions and data throughout the customer lifecycle. CRM systems gather information about customers from various points of contact between them and the business, such as the company's website, the company's phone line, live chat, direct mail, marketing materials, and social media. Utilizing automation and artificial intelligence solutions to better analyze consumer purchasing patterns, boost brand-customer contact, and fortify client relationships has been a major emphasis for many businesses in the retail sector. Businesses have used artificial intelligence to automate CRM, allowing them to engage customers based on their inquiries and the information they want, effectively address customer inquiries, and boost customer loyalty. Artificial intelligence (AI) technologies are becoming more and more pervasive in our society as they lay the groundwork for innovative value propositions and standout client experiences. AI is essential for providing improved customer experiences, which strengthen the consumer-brand relationship and brand distinctiveness. The goal of this study is to evaluate the effects of implementing an AI-based customer relationship management (CRM) system for managing business-to-business relationships in the marketing sector.