There are a few key ingredients for a good automation solution. Let’s look here. What goes into making a good customer experience automation funnel?
- Technology – To drive the processes
- People – As fallback for the technology
- Data – To train the automation tools/chatbots
As a conversational AI firm that builds chatbots, we know the value of ‘big data’ & the tools to manage it. But it’s not the big picture with many enterprises today. However, it should be. Why?
Data is a critical business asset.
Big data is the fuel for today’s analytics applications. The development of big data technologies unlocked a treasure trove of information for businesses. Before, BI and analytics applications were mostly limited to structured data stored in relational databases and data warehouses — transactions and financial records, for example. A lot of potentially valuable data that didn’t fit the relational mold was left unused.
In simple terms, you can’t have your cake and eat it too. But yellow.ai makes that happen. We’ll get back to this later.
Companies are increasingly trying to make use of all that data their business generates to help drive better business strategies and decisions. In a survey of IT and business executives from 85 large companies held by NewVantage Partners in late 2020.
– 91.9% said they were speeding up the pace of their investments in big data and related AI initiatives.
– 96% reported successful outcomes from such projects. Still many businesses struggle to maximize the business potential of their big data environments.
– Only 39.3% of the survey respondents said their organizations were managing data as a business asset
– 24% said they had created a data-driven organization, according to a report on the annual survey that was published in January 2021.
To help businesses get more value from the data flowing into their systems, we must understand its business benefits, the challenges it poses and best practices for using it effectively.
The management of big data for large enterprises seems to be a long hovering issue penetrating and affecting many business functions and rendering them slow. With the lack of data available at their disposal at the right time, employees shudder to not only solve customer grievances but also help their own cause. From customer support to engagement and HR activities, a lack of structured data can cause an organisation to slow down tremendously.
So we know that data is important and so it should be managed in a way to serve our purpose. But what happens if data is managed badly?
Knowledge is spread across different sources and it’s difficult to keep a track of things.
High operational costs
Cost averages at $15 per contact in big enterprises that have an enormous volume of data.
Low self-serve adoption
Only 10% of employees are aware of Self Serve portals. The majority find it hard to navigate to.
Agents are overworked
An average of 1 agent for every 100 employees is a big number! This is again due to such an enormous volume of data.
yellow.ai solves these issues with Insights Engine; an intelligent search service powered by machine learning with which enterprises can easily find the content they are looking for, even when it’s scattered across multiple locations and content repositories within your organization. It reduces the cost, effort and errors involved in looking for the data manually. Using Insights Engine, you can discover the right answers to your questions when you need them, without having to scavenge through heaps of unstructured data. Insights Engine is a complete, managed service, so there are no servers to provision, and no machine learning models to build, train, or deploy.
But our cognition techniques are slightly different and vastly better than other providers. How? We use natural language questions besides simple keywords to get the answers you’re looking for.
What this means is that our search is contextual and not based on keywords which erases ambiguity and has higher chances of fetching accurate data compared to keyword search which is what most providers today practise. Insights Engine will return an exact answer from within a document, whether that is a text snippet, FAQ, or PDF document. Instead of sifting through long lists of documents to find specific answers, Insights Engine also provides suggested answers upfront.
More benefits of the insights engine feature include –
AI-powered search to solve and answer all your queries quickly and accurately, no matter where the information is.
Real-time insights on user query patterns, model accuracy and so much more.
Fine-tune your search results using custom tags. The algorithm improves over time using the active learning loop.
Easily integrate and index files with Enterprise tools like SP, and AWS S3 straight from the UI. Using the integration hub is quick and easy, you just add data sources to your Insights Engine index and select the connector type. Connectors can be scheduled to automatically sync your index with your data source, so you’re always securely searching through the most up-to-date content. Insights Engine offers native connectors for popular data sources like S3, SharePoint, Salesforce, Confluence, and many more.
Sharepoint as a connector
S3 as a connector
AI engine ingests a document and contextually understands content to frame questions and answers with zero manual effort. Generating Q&A automatically is extremely easy and completely automated. Insights Engine can automatically generate Q&As from a document irrespective of the domain of the document or the content. Q&As generated from the document can be easily viewed under Document Q&A.
Imagine turning a million documents into one simple solution – FAQ chatbot.
Let’s see how that is done in this simple video.
See how insights engine can make a difference to your organisation.