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Why Chatbots will be critical for the future of Business Intelligence

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Hari Krishna,Chief Operating Officer

Business Intelligence(BI) is beyond doubt the most profound tool at the disposal of the enterprises’ business teams. More than anything, BI has changed how management makes decisions. They have realized the potential of data that otherwise lay unused, as part of mere records and spreadsheets. 

BI has given a new meaning to business data that is helping sales and marketing teams to do highly targeted sales pitches and proposals. With the right BI tools, they not only know what their customers want but also what drives their want. And chatbots have a huge role to play in how Business Intelligence is shaping our ways of doing business.

  • Chatbots will manage 85% of customer interactions by 2021.

  • Chatbots are going to administer 40% of business interactions by 2021.

  • Nearly one-third of Artificial Intelligence utilization will be through chatbots.

Chatbots, Business Intelligence (BI) and the IQ of your business

Business Intelligence (BI) powered by Artificial Intelligence is helping businesses to see patterns and relationships between events, demand, and customer behavior. Executives can make highly informed decisions and also predict the outcome of these decisions.

This ability of your business to leverage these technologies is known as Business IQ.  

Chatbots works as a bridge that brings business intelligence and business data together. AI-powered chatbots are more than customer support representatives; they are the modern-day data accumulators for businesses. Chatbots have democratized the technology of BI and Artificial Intelligence. It has made it accessible and affordable for small businesses.

Chatbots are BI enablers

Chatbots are prompt and precise when it comes to customer communication and associated data gathering. Their capability may range from customer support to data scientists that can directly interact with BI tools and communicate implied customer information from chats. Chatbots are primarily an affordable piece of tech. This quality lets businesses to have multiple chatbots working as data gatherers transferring data to BI tools that can transform enterprises in terms of how they operate and do business.

Read also: Digital Workers - Your new age employee

Chatbots are the catalyst to Higher Business IQ

What every business expects from Business Intelligence(BI) is to gather, mine, and process their business data and identify KPIs and metrics to help their executives make better decisions. And all this is in real-time where data is continuously changing and trends are evolving as we speak.

Three reasons Why you should invest in Chatbot to create a smarter business:

#1 Chatbots will accelerate BI adoption

  • It can easily integrate with your BI software.

  • They are excellent data accumulators and report without any loss of information.

  • Most of the communication today is relayed through mobile devices. And the ability of chatbots to communicate with them makes it very easy to gather and report information via mobile devices.

#2 Chatbots are great assistants

  • Chatbots are prompt and precise. Anybody who can navigate around a webpage can use them.

  • A single chatbot can handle multiple users at the same time, it's more efficient than any of its human counterparts and operate 24/7.

#3 Chatbots are smart

  • Chatbots can infer customer personality and traits during a conversation and deliver a personalized experience.

  • It can perform reasonings as good as humans can do to provide a solution based on past data or escalate to a live agent when necessary.

Read Also: Five chatbot mistakes eCommerce website make - How to get them right

Wrap-up

Chatbots serves multiple purposes for your business, and its ability to seamlessly work alongside your CRM software makes it a tool of immense utility. SayOne has deep expertise in building chatbots and BI tools, and we understand that the future of business will be data-driven and how bringing together various tools can make yours the business of the future. Get in touch for a FREE consultation.

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