There are some questions any business person should ask themselves today some of which include:
What is the impact of technology on business? Especially these days in the advent of Artificial intelligence and Machine Learning.
If you quickly google Artificial Intelligence or Data Intelligence you will be bombarded with an avalanche of information. What is the fuss about? Could there be smoke without a fire here?
I think this is something to be investigated. There are some serious claims that need to be verified if at all this topic is going to be taken seriously and I would like to highlight some of them.
- It is claimed that we are now more than ever able to collect petabytes of data each day and this data has revolutionary information that would turn our businesses around in an instant.
- There is also this claim that automation can help reduce costs on business in a way that, routine tasks are handled by machines that make no mistakes. I believe this is a fact worth investigating.
- Another claim of the accuracy in data-driven decisions; it is now believed that if you are not aware of the kind of information shared in the video below within a few years you will be obsolete?
Just how has this field changed so much to the extent that we can’t ignore it? Let us consider some advantages:
Understand your customer’s behaviors
As people go through your business site you are able to track and monitor their behaviors, furthermore, you are able to learn and predict what they will do.
Imagine a day where you stock only the product that you know ill be bought or the one where you get the largest profit margin, that would be invaluable.
The insights got out of such technology can help you get personalized experience for all your clients.
You can’t talk about business without talking about sales and marketing.
With the avalanche of information, you are able to learn people’s patterns and this helps you know who is going to make better conversions on your investment.
You know who to retarget and from where to create customized market segments. These are all products of technology that help you segregate segments of your market in such a way that you would learn better.
What works for your business strategy?
Or maybe your phone sales have taken a nosedive, and you’re not sure why.
Leveraging a solution like Talk IQ that integrates with your phone system to analyze conversations between the sales team and customers. It can help identify critical differences in approach by salespeople and assesses the effectiveness of sales tactics on KPIs to help you hone your strategy.
Expand your team with a chatbot
If you are not able to afford a big team at the beginning of your business you can leverage AI to support you by the use of chatbots.
Chatbots are a way you can set up a machine to help you respond to the queries of your clients 24/7.
It is possible to totally automate this process in such a way that you will get more response and analysis of your client base at a minimal cost.
The platforms for the implementation of these technologies are there and the video and process above is an introduction into the technology in a way that can open your eyes.
Thank you for reading.