Machine learning (ML) — technology that learns from experience (data) to predict the behavior of each individual — is well known for improving the bottom line by running major operations more effectively. But did you know that it can also measurably improve the customer experience?
How Machine Learning Can Improve the Customer Experience
Machine learning is a promising technology for improving the customer experience. Why? It’s simple: because it can predict customer behaviors. Prediction as a capability is the Holy Grail for foreseeing each customer need and personalizing products and services accordingly. From the consumer’s perspective, when ML’s ethical pitfalls are avoided, prediction can be the ultimate antidote to the information overload that we all face every day. By deploying ML to predict which content is most relevant for each individual, customers can receive better recommendations, less junk mail, very little inbox spam, and higher quality search results, among many other things. These improvements to customer experience aren’t only a nice-to-have, pleasant side-effect of profit-driven ML deployments. They pursue the raison d’etre of any company — to serve customers — and will ultimately translate into further benefits for the business. After all, a happier customer is a more loyal customer, and a higher customer retention rate means a higher customer growth rate.