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1.4.2 Cognizance of Consumers Purchase Behavior/Intention
ОглавлениеAI is helpful in comprehending the behavioral aspects of the customers. AI not only helps in understanding customer loyalty but also customer engagement. AI precisely predicts the CLV, i.e., customer lifetime value. This enables the organizations to maintain a better and attractive customer relationship with high valued customers. AI and ML can provide accurate recommendations to organizations on product features and display by pattern analysis of the behaviors of customers purchasing. This helps to improve the customer’s experience. AI is now able to analyze and understand human emotions such as delight, sadness, and anger. Ampsy uses hyper-local geo wall/fence to store publically shared content. This content is analyzed to understand consumer’s intention toward purchase. For example, Alibaba, the world’s largest e-commerce provider company uses AI to predict the pattern of customer purchase. Also, Alibaba is a solution provider to traffic maintenance with the help of AI [24].