Digital innovation is a critical element in the success of both private enterprises concerned with continuing to improve their business, and public sector organisations gradually pushing out old, out-of-date paradigms for improved, effective service delivery techniques.
Every year new systems and ever-evolving digital strategies offer us smarter ways to deliver responsive, targeted, and personalised products and services. The digital transformation ecosystem continues to grow, with a broad variety of options to suit even the most niche of business needs. Are these technologies in the sights of your business?
Enhancing our own judgement calls through machine learning.
Machine learning (ML) helps us predict future outcomes via sophisticated data analysis techniques, modelling interactions between variables which would normally be too complex for a human to efficiently manipulate.
For businesses involved in the stock market, ML-based algorithmic trading and adaptive intelligence tools are well on their way to becoming the norm. But ML offers benefits to organisations far outside of the finance and banking industry. ML is an essential tool used in habitat modelling – using data gathered about the behaviour of an endangered species to predict, for example, where that species is likely to conduct most of its foraging or nesting. With this deeper understanding, local government and city planners can ensure that future developments and other man-made changes in their area do not negatively impact protected species within their remit.
ML offers value to any business keen to use all the data they have available to answer detailed questions about their strategic planning and future growth.
Improving revenue with business intelligence.
First adopted by many companies as a solution for ensuring compliance and risk management, more and more businesses are finding that business intelligence (BI) is offering powerful ways to improve revenue. Many companies have made the leap to investing in BI reporting tools, though not all of them know how to drive adoption from within. The most common pathway to total adoption of BI within an organisation is to initially focus on introducing it via your operations and sales staff. Implementing strong BI tools and processes in these areas will make for an excellent example to other areas of the business, because they already tend to have clear, measurable KPIs that are easy to link back to your business objectives.
If your BI practices are already well-established within your organisation, then it might be time to look at how you can gain further value from the system you use. Sometimes software can be a little like a human brain – we are only making conscious use of 5% of it! You may be familiar with using custom dashboards, data integration and advanced visualisation, but have you investigated what data discovery, data mining, and data storytelling might offer your business?
24/7 customer service via conversational AI.
More than ever before, tasks requiring reasoning, ingenuity, logic and perception can be replicated or enhanced by through artificial intelligence (AI), and every industry can benefit.
A currently booming market tool powered by AI are chatbots. Built on custom databases of questions and keywords that use Natural Language Understanding (NLU) to handle common user queries like “I need to return an item” or “What are your shipping rates to France?”, a chatbot can answer at any time of the day or night, offering your customers true 24/7 customer service. While the answers to your website visitors’ questions may be available elsewhere, there are many users who prefer to conduct their queries conversationally. And now, thanks to chatbots, they can receive a personalised response without tying up limited staff resources. Instead, your employees can focus their attention on the more complex queries and tasks that are still too difficult for an artificial responder to handle.
Some chatbots can do more than just talk. IBM’s Watson, for example, can also offer data discovery functions, reducing the time your employees spend on their own queries, too! Chatbots are ready to work with your customers, no matter the time of day or their location.
Getting a 360 degree view of your client base with customer experience tools.
Gone are the days where your business relied on completely isolated customer relationship management tools and analytics software. Now there are enterprise marketing systems that integrate all aspects of customer profiling and multi-channel marketing.
An excellent example of such a system is Kentico, which combines all the power of a traditional website content management system with e-commerce tools, email marketing, contact management, A/B testing, content personalisation, marketing automation and more.
Keeping on top of digital transformation is one of our core services, and happens to be what we're best at. If your long-term business strategy hinges on adopting innovative technologies to stay ahead of the crowd, we are happy to talk to you about your next move towards business digital transformation.