Conversational Analytics to Boost your Bots and Business

The progress made in conversational analysis has given rise to wide spread acceptance of AI powered conversational chatbots, helping businesses increase engagement, acquisition and monetization and can be an apt fit in a multilingual country like India. Gartner’s prediction points at ‘conversational AI’ becoming the most sought-after technology advancement beating ‘cloud first’ and ‘mobile first’ imperatives in the next decade.

 

The ever-growing dependence on smartphones and the inclination and convenience of interacting with digital personal assistants or chatbots is further fueling the growth of conversational chatbots. Data from MindMeld revealed that 55% smartphone users using voice assists on their phones used it once daily or weekly, up from 49% in the previous year.

 

Here’s how CA and AI boost your bots and business;

 

Easy and widespread use

Chatbots enabled with conversational analytics can be used by any individual, regardless of age or technical prowess. The user can conveniently converse in the language he or she is most comfortable with and find solutions to their concerns.

 

Make sense of unstructured data

For businesses there is an unprecedented amount of unstructured data available on social channels, call logs, Q&A platforms and elsewhere on the web. Conversational analytics can help businesses or other bodies derive sense from the unstructured data available online.

 

Create a stronger bond between user and business

Chatbots with conversational analytic capabilities can be a big boon not just for customer service, but for sales as well. Chatbots capable of conversing and processing different languages can be hugely beneficial for businesses as unlike human customer service agents the chatbots are available 24/7 to address concerns of people using varied languages. They are more prompt, drastically reducing the response time and are aware of what the customer is expecting.

 

Reduced cost

A Business Insider research titled ‘The Chatbot-Explainer’ states that businesses can save as much as 29% in costs incurred on manpower by utilizing chatbots for customer service or sales functions. It can also save on costs related to acquiring new customers as chatbots providing prompt and updated information and service will help retain customers.

 

In a multicultural, multilingual country like India, which has 22 official languages, approximately 196.02 million users on social media and 299.24 million smartphone users, conversational chatbots can surely be a much-needed boon to build healthy and long-lasting relations with customers.