Artificial Intelligence to Predict Consumer Behavior

By CIOReview | Thursday, March 28, 2019

The market is witnessing a significant need for predictive solutions that range from machine learning and deep learning capabilities to Artificial Intelligence (AI). But the reality is that there is a need for more than one methodology to predict human behavior.

Artificial Intelligence

Artificial intelligence (AI) in customer experience is defined as deep insight generation which is derived from the advanced analytics and Machine learning technology that quickly identifies the pattern in human behavior which can be drilled down to provide a personalized experience to each customer. This can be accomplished only through a combination of both human and technological aspects as AI needs capabilities from both forms of intelligence to determine future actions that impact business outcomes.

Levels of Predictions

There are three major predictive patterns that enterprises must look forward to:

1. Emotional and Intent Analysis: Customer experience practitioners aren’t ready to compete in today’s environment without a robust solution for mining unstructured feedback and then defining the deep insight from that feedback. It refers to a solution that can identify the emotion behind the experience and the intent behind the comment.

2. Segment patterns: Practitioners require a solution that aggregates all the structured and unstructured feedback and identifies patterns in the customer behavior. These can help in identifying the trends within an organization that can further impact specific business outcomes.

3. Future Actions: The primary goal for any organization is to use a predictive model that can quickly identify critical attributes in the historical customer experience data that impacts business outcomes so that one can use these points in the customer journey that are likely to cause a future action. This enables a company to predict that if a particular experience occurs, the client will act in a certain manner.

The ability to predict consumer behavior with profound learning and ML-trained AI- consistency and with high accuracy is not a distant prospect. AI is ready to change market dynamics, tactics, and techniques for the industries, but those who are not keeping pace with the change would end up making a big mistake.

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