How AI and ML can improve your enterprise bottom line profits through customer segmentation and clustering?

There is a reason why we, as people, deal with different people differently. Our equations with our friends are very different from our equations in office and this is very different from our equation with our parents.

This is just one small example about how companies look at customers – they devise strategies to cater to specific audiences in a pointed manner and as per their needs, their wants and how they want to brand their product.

This is where Machine Learning (ML) and Artificial Intelligence (AI) have made their presence felt – they have helped track customer behaviour online which in turn has a knock-on effect on matching their needs with your goods and services. Machine Learning has become imperative in orderto carry out customer segmentation. It helps companies identify comparable characteristics in every customer’s behaviour.

Now, once this is tracked, strategies can easily be devised which will then be helpful in:

  • Tailoring marketing activities to specific groups
  • Rolling out features and new products as per the needs and demands of the customer
  • Understanding how a product might perform and prepare a concerted roadmap for the same

Artificial Intelligence is no longer just confined to launching rockets into space. It has become part of who we are and what we do on the Internet. AI is used as chatbots in the website, it is being used as predictive computing systems, as well as in automation of tracking customer behaviour online.

Putting it to use and then coupling it with smart analytics, one can easily find the right customers which will help you market your own goods and services accordingly. Once data is collected from people visiting the site, one can keep the products relevant through instant profiling. This is what will build customers and target them in a more interactive manner.

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