The role of big data analytics in customer relationship management: Strategies for improving customer engagement and retention
1 Independent Researcher, Australia.
2 Independent Researcher, London, ON, Canada.
3 Ulster University, United Kingdom FDM, UK.
4 University of Chicago Booth School of Business, USA.
Review
World Journal of Advanced Science and Technology, 2024, 06(01), 013–024.
Article DOI: 10.53346/wjast.2024.6.1.0038
Publication history:
Received on 23 May 2024; revised on 07 July 2024; accepted on 10 July 2024
Abstract:
This paper explores the transformative impact of Big Data Analytics on Customer Relationship Management (CRM), focusing on its role in enhancing customer engagement and retention. The study highlights how Big Data enables businesses to create personalized customer experiences, anticipate customer needs through predictive analytics, and respond promptly with real-time data analysis. Additionally, the paper discusses using sentiment analysis to refine engagement strategies and applying predictive models to prevent customer churn. The effectiveness of loyalty programs is also examined, demonstrating how Big Data can tailor incentives to boost customer loyalty. The conclusion emphasizes the need for future research into advanced machine learning techniques, ethical considerations, and developing more sophisticated real-time analytics tools. The findings underscore the pivotal role of Big Data in transforming CRM strategies, driving customer satisfaction, and ensuring long-term business success.
Keywords:
Big Data Analytics; Customer Relationship Management (CRM); Customer Engagement; Customer Retention; Predictive Analytics
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Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0