Data is the oil that drives businesses of all sizes and is a must-have for any company that wants a competitive edge. With data insights, companies can make well-informed business decisions.
Types of data that companies rely on to derive insights from include customer profiles, financial metrics, and marketing statistics. Capturing this information is only the first step toward utilizing data for the proper purposes in the business setting. For data to truly work in an organization, it is crucial to build a data analytics culture. It should be easy for businesses to access and use data to make vital decisions.
Read on to learn more about the role of chatbots in creating a culture of data analytics.
Business Intelligence and the User Adoption Challenge
Historically, businesses use reliable data-driven analytics to grow steadily. An article published in the Harvard Business Review shows that data-driven decision-making practices are evolving.
Unfortunately, data analytics faces many challenges in its adoption. Employee resistance is the biggest roadblock for organizations that try to create a data analytics culture. Low employee adoption reduces the probability of gaining any value from the data a company generates. Common reasons for low adoption rates include:
- Complex UX: Most data analytics tools and solutions employees have access to are complex. Interfaces that don't provide a seamless user experience create employee apathy, hampering the company's data analytics culture.
- Too many steps: Most tools require users to fulfill several steps to access crucial information. The measures make it hard to access data instantly, yet data insights are imperative in making everyday decisions.
How Chatbots Help Bridge the Gap
Chatbots can enable businesses to reduce the low data analytics adoption rates among employees. Chatbots are computer programs based on artificial intelligence that conduct conversations through textual or auditory methods by convincingly simulating how humans would behave as conversation partners. Their application extends to various practical use cases in HR, customer service, and ITSM.
The platforms provide data-driven insights for business intelligence, enabling decision-makers to make crucial business decisions promptly. Companies can quickly access vital data when they integrate chatbots into existing business intelligence systems like SAP, Oracle, or Power-BI.
This happens through communication channels like Skype for Business, Microsoft Teams, Google Chat, or Slack via chat. Chatbots become the single point of contact for employees to retrieve business insights without delay. Modern-day chatbots can work on multiple device interfaces, increasing the convenience of users to access data in real-time.
Examples of Chatbots that Support Business Analytics
Chatbots come in various types, and their applications and functionalities differ. The most common types available on the market and which can support your business analytics are:
- Menu or button-based chatbots are the most common, similar to automated phone menus. They're sufficient for answering FAQs, which comprise 80% of support queries, such as the Jenny chatbot.
- Linguistic or rule-based chatbots allow you to predict the questions your customers may ask. It creates conversational automation flow, for example, the HDFC Bank Eva chatbot.
- Keyword recognition-based chatbots listen to what users type and give the appropriate answer. They rely on Natural Language Processing to determine the proper response to a user, for example, the CNN chatbot.
- Machine-learning chatbots rely on machine learning and artificial intelligence to remember conversations with users and have contextual awareness for self-improvement, for example, the Vainu chatbot.
With all the benefits that chatbots deliver in business analytics, there is no reason not to have one in your company. Their impact on streamlining business decisions is undeniable, reducing the workforce, business operation costs, and time.
If you'd like help implementing a chatbot solution in your business, let an expert in the field assist you. Head to Discover.bot to learn more about chatbot development. Get.bot is also a valuable resource for bot management.
