The Future of CRM: IoT and Machine Learning
Imagine being able to predict a breakage before it happened. It’s not science fiction- it’s just very smart technology, and it’s the future of CRM. The Internet of Things (IoT) and Machine Learning represent an amazing opportunity for organisations to change themselves from reactive to predictive customer service.
What does Internet of Things and Machine Learning mean?
IoT simply put; is the ability for all sorts of objects and devices to be connected to the internet. Think of a smart fridge that can automatically order groceries you run out of. With the use of sensors and a cloud platform like Microsoft Azure, your system can gain a massive amount of data about a whole range of things. Take JJ Foods for example, they use sensors in their food trucks to monitor the temperature and send data back to their ERP solution.
Now the challenge is, what do you do with all the data you collect? That’s where Machine Learning comes in. Machine Learning is when software crunches massive amounts of data to create patterns and identify trends. We spoke about Machine Learning in our blog on the Microsoft Social Engagement tool- that the tool was able to track key phrases across social networks- and analyse the sentiment, determining if it was positive, negative or neutral.
Automatically cross sell with Machine Learning:
That’s just one of the ways you can apply Machine Learning when dealing with customers. Imagine you were able to make product recommendations to your customers when they select an item for purchase. Say the matching belt to a pair of shoes, or how about milk with cereal. You can do these things when you connect Microsoft Dynamics CRM to Azure Machine Learning. You can build an advanced machine learning model for automatic cross-sell product recommendations based on historical transaction data. Next time you have customers ordering online or on an app they could receive recommendations.
It can be used in the same way for sales people at the opportunity, quote or order level, the system will recommend up and cross-sell opportunities.
Better customer service with Machine Learning:
By using IoT and Machine Learning, companies like Ecolab in the video above are able to predict breakdowns in their customers’ machinery before it happens. Ecolab is a firm that helps their customers run their businesses with the most sustainable concepts in mind. They have 36,000 sensors around the world that collect and analyse instant data to improve efficiency and cut water, energy, and operational costs for their customers.
By combining Machine learning and Microsoft Dynamics CRM Project and Service Capabilities- they’re able to disrupt the traditional breakage-fix service model. If their monitors recognise a pattern- they can send out a technician to fix it before it breaks. But that’s not all, thanks to Machine Learning the system can identify the best technician to complete the work order based on their location, skillset and inventory required.
It then can automatically send the work order to their mobile device and have all the information they need, the worksite, the tasks, and the inventory required. It can predict the issue and recommend the steps to solve the issue. And it doesn’t just have to be field service, Machine learning can be applied on the service that your team deliver- or even self-service and recommend solutions for your customers when they’re troubleshooting for themselves.
This system is not only more efficient for the customers it also optimises their customer service, just like for Ecolab who were able to cut costs and increase productivity by making the most of their resources.
The future of CRM:
The beauty of integrated Machine Learning is that the more information it processes, the more precise and intelligent it becomes in its predictions. If you want to learn more about how we can transform your business with IoT and Machine Learning- talk to us today.