A literature review of the current applications of machine learning and their practical implications

Customer Relationship Management (CRM) has been an important ally to companies willing to improve their customer experiences. Lately, Machine Learning (ML) and its techniques have been transforming the way companies interact with their customers through data analysis. This paper reviews the literature on the application of ML techniques to improve CRM processes and provides an overview of used techniques and their application to each CRM dimension and element. In addition, the practical implications are analyzed based on recent developments of CRM tools in the field of ML. The paper delivers insights for future studies as well as for CRM tools willing to improve their analytical and automated services and features.