Unit 4

CRM, which stands for Customer Relationship Management, is a strategy and

technology used by businesses to manage and analyze interactions with their
customers and potential customers. The goal of CRM is to improve customer
relationships, leading to increased sales, better customer service, and ultimately,
higher profitability.

three main pillars of CRM:

1. Operational CRM
2. Analytical CRM
3. Collaborative CRM

Operational CRM focuses on the day-to-day interactions that businesses have

with their customers. This includes activities such as marketing, sales, and customer
service. Operational CRM systems help businesses to track and manage these
interactions, so that they can provide a better customer experience.: Businesses can
use operational CRM systems to track customer interactions, such as website visits,
email opens, and sales calls.
Analytical CRM uses data from operational CRM systems to generate insights
into customer behavior and preferences. This information can be used to improve
marketing campaigns, sales strategies, and customer service offerings. For example,
they can use these systems to identify their most profitable customers, the products
and services that are most popular, and the marketing channels that are most
effective
Collaborative CRM helps businesses to break down silos between different
departments and teams, so that they can work together to provide a better
customer experience. Collaborative CRM systems provide a central repository for
customer data and communication tools that enable employees to collaborate more
effectively.For example, they can use these systems to share customer data between
the sales and marketing teams, or to create a knowledge base that all employees can
access.
360 degree view of client:

We can defines a 360-degree client view as "a single, unified view of the
customer that is aggregated from all of the different systems that the customer
interacts with the company." This includes data from marketing, sales, customer
service, and other departments.
A 360-degree client view is essential for businesses that want to provide a
superior customer experience. When businesses have a complete understanding of
their customers, they can personalize their interactions with them and offer them
the products and services that they are most likely to want.
To create a 360-degree client view, businesses need to integrate their CRM
system with other systems that store customer data, such as their marketing
automation platform, e-commerce platform, and customer support system. Once the
data is integrated, businesses can use CRM reports and dashboards to get a
complete picture of each customer.

Here are some of the benefits of having a 360-degree client view:

Improved customer experience
Increased sales
Reduced costs.
Tips for creating a 360-degree client view ::
Identify the data that you need
Integrate your systems
Cleanse your data.
Use CRM reports and dashboards

UTILIZING ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING IN YOUR

CRM STRATEGY

AI is a discipline that focuses on creating intelligent machines that can perform tasks
that typically require human intelligence, such as visual perception, speech
recognition, decision-making, and natural language processing. It involves the
development of algorithms and systems that can reason, learn, and make decisions
based on input data.
On the other hand, Machine Learning (ML) is a subfield of AI that involves teaching
machines to learn from data without being explicitly programmed. ML algorithms
can identify patterns and trends in data and use them to make predictions and
decisions. ML is used to build predictive models, classify data, and recognize
patterns, and is an essential tool for many AI applications.
Evolution of Ai:

AI, a technology that has been around since the 1940s, has evolved
significantly since then. Its roots can be traced back to the 1950s, with the
first computer programs in the 1960s and 1970s being developed using
LISP, a high-level programming language. By 1985, the market for AI had
reached over $2.3 billion, and by the late 1990s, AI was being used in
logistics, data mining, and medical diagnosis. In 2019, access to huge data,
gained through the Internet and cloud usage, and affordable CPUs and
memory space, has made AI more compelling than ever before.
AI's potential is now being realized by many organizations and early
adopters, playing a fundamental role in our daily activities. It is driving
innovation in the automotive and aviation industries. Technologies
around AI, such as robotics, cognitive services, and deep learning, can be
combined with big data in CRM processes.

Teaming up AI with people:

AI in business is crucial for marketing, social media, chatbots, operational efficiency, logistics,
and supply chain. However, accountability and responsibility are essential for AI systems to function
effectively. Companies need to adapt processes and manage cultural changes, starting with small
steps.
AI requires rigorous oversight and collaboration between people and AI. AI can understand
people's goals and intentions, providing support accordingly.For example Microsoft's Skype translator
technology can help remove language barriers for office workers.
Addressing bias and fairness is essential for AI systems to function effectively. AI algorithms excel
in repetitive tasks and large data processing, while people excel in negotiation, creativity, and
problem-solving.
Teaming AI with real people can lead to superior results, as seen in freestyle chess, where people
and AI software work together to achieve maximum business returns.

Applying AI to your CRM solution:

The integration of AI and CRM technologies can significantly improve processes in sales,
marketing, and customer service. CRM vendors are already infusing AI into their cloud applications,
such as Microsoft Dynamics 365, which provides AI-driven insights based on CRM data.
By combining AI and CRM, key performance analytics can be gained, coupled with natural
language queries to respond quickly to uncovered information and trends. AI techniques can be used
to analyze the sales pipeline, identify gaps in data, and propose ways to close deals based on revenue,
closing date, customer sentiment, and deal probability.
Proactive data analysis using machine learning models can provide insights into performance
and key performance indicators, providing better visibility into business forecasts, actuals, pipeline,
leads, and activities.
ethical aspects of AI

AI can partially augment human intelligence, but it should not be done uncontrollably. The field
of AI must also understand its impact and make informed decisions to mitigate potential risks.
Engaging employees and customers in early stages of processes and creating transparency is
crucial.
Ethical design and human control are essential in AI and big data projects.
AI, ML, and data modeling must be transparent for all involved parties, including the company
and the customer.
Most clients have strong ethical processes in place and ethics committees reviewing AI use,
making it an option to consider when designing CRM solutions.
It is essential to consider ethical considerations when designing AI and big data projects.

An example of AI in CRM processes.

Bot Framework is a comprehensive framework for building enterprise-grade conversational AI

experiences. It allows users to build and connect intelligent bots that interact naturally with users and
customers across various channels, including text, SMS, Skype, and mail.
Language Understanding Intelligent Service (LUIS) is an ML-based service designed to build
natural language understanding into apps, bots, and IoT devices.
Cognitive Service, which allows users to build apps with powerful algorithms using just a few
lines of code and works across devices and platforms like iOS, Android, and Windows. Cognitive
Services continuously improve and are easy to set up, allowing users to infuse their apps, websites,
and bots with intelligent algorithms to understand and interpret customer needs through natural
communication methods.
translation services: are essential when available within the workflow of a tool, application, or
solution.