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Harnessing AI for Behavioral Insights Unlocking the Potential of Transactional Data

Author(s) Arunkumar Paramasivan
Country India
Abstract In today's data-driven economic landscape propels businesses toward determining the real value of transactional information to truly understand consumer spending behavior. This article reviews how AI technologies, machine learning, and predictive analytics can leverage big volumes of transactional data into detailed insights on customer spending habits, preferences, and emerging trends. AI transforms raw data into actionable intelligence that enables organizations to personalize marketing strategies in ways that really can speak to each consumer individually, which drives better engagement and brand loyalty. Moving on to risk management, AI will allow for behavioral insights that can help a business recognize fraud attempts, more precisely assess creditworthiness, and proactively reduce risks.AI is opening a new frontier in customer engagement by catering strategies to individual behaviors and anticipating future needs, which will truly enrich the customer experience. The paper now proceeds with the description of methodologies-AI-driven transactional data analysis: clustering algorithms, anomaly detection, and predictive modeling-hand in hand comprehensively present the view of consumer behaviors and preferences. The paper further underlines the business growth implications of these AI-driven insights for strategic decision-making and highlights how deeper behavioral understanding might lead to effective product development, targeted marketing, and resource allocation. The practical applications along with various real-world case studies from industries like retail, banking, and e-commerce will demonstrate the measurable outcomes achieved by enhancements in behavioral insights using AI. It further makes recommendations on ethical considerations, including issues to do with data privacy and the use of transparent AI models in a bid to engender consumer confidence. This paper, in conclusion, shows that AI has transformative prospects in making transactional data an asset, enabling businesses to converge with prospects for growth in the competitive markets through service to customers and sustainability of earnings.
Keywords Artificial intelligence, behavioral insights, transactional data, machine learning, predictive analytics, consumer behavior, personalized marketing, risk management, customer engagement, business intelligence
Field Computer > Artificial Intelligence / Simulation / Virtual Reality
Published In Volume 5, Issue 10, October 2024
Published On 2024-10-04
Cite This Harnessing AI for Behavioral Insights Unlocking the Potential of Transactional Data - Arunkumar Paramasivan - IJLRP Volume 5, Issue 10, October 2024. DOI 10.5281/zenodo.14551574
DOI https://doi.org/10.5281/zenodo.14551574
Short DOI https://doi.org/g8wtcz
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