AI-Based Customer Relationship Management Systems and Business Performance
DOI:
https://doi.org/10.7492/rhy1s934Keywords:
Artificial Intelligence, Customer Relationship Management (CRM), Business Performance, Predictive Analytics, Machine Learning, Customer Satisfaction, Customer Retention, Sales Growth, Data-Driven Decision Making, Chatbots, Personalization, Digital Transformation, Automation, Customer Insights, Competitive AdvantageAbstract
The paper is devoted to the impact which Customer Relationship Management (CRM) systems relying on Artificial Intelligence (AI) may have
on the overall business performance. Since organizations are rapidly going digital, they are beginning to add AI-based services such as
predictive analytics, chatbots and machine learning algorithms to their CRM to enhance their customer relationships and work processes. The
study will concentrate on the impact of these smart systems on the customer satisfaction, retention rate, increase in sales and effectiveness of
decision making which are important performance indicators.The research is based on mixed method research design i.e. combination of
primary data collection and secondary data that is obtained by using structured questionnaires with business practitioners and industrial reports
and academic articles. The connection between the AI-enabled CRM capabilities and the organizational performance is tested by quantitative
analysis, whereas the qualitative insights are used to comprehend the perception of users and the problems of the implementation.
The results show that AI-based CRM systems can offer significantly superior customer insights and that it opens an opportunity to streamline
the information in real-time and introduce personalized communication schemes. The companies that have embraced such systems have
enjoyed high retention of their customers and quality services that is directly linked to high revenues and competitive advantage. Moreover,
the AI-based automation minimizes the amount of human resources, speeds up and improves the accuracy of administrative decisions.
However, the study also refers to the issues such as the high cost of implementation, privacy concerns, and the need to have expertise to use
AI technologies. In spite of these drawbacks, the net effect of AI-based CRM systems on the performance of businesses has been established
as positive and significant.The study concludes that proper implementation of AI in CRM systems can be used as a strategic instrument by
organizations that are aiming to achieve sustainable growth and improved customer relations in an overly competitive business world.
