As technology advances, businesses are able to gain more and more insights about their customers through the use of analytics. This allows them to understand and predict customer behavior and identify new opportunities. This blog post will discuss some of the emerging trends in analytics and how businesses can use them to grow their brands. We will also look at some real-world examples from leading companies that are using emerging trends to stay ahead of the competition.
Chatbots
One of the most talked-about emerging trends in analytics is the use of chatbots to better communicate with customers. People are interacting more and more with automated chat interfaces, whether through messaging apps like Facebook Messenger or mobile applications like Siri and Cortana. By communicating with customers through these types of "conversational" interfaces, businesses can provide personalized experiences and help with customer service.
Chatbots are becoming so widespread that there is even a "chatbot conference." At the 2017 Chatbot Conference in New York, leading companies presented how they are using chatbots to drive results for their businesses. One of the big takeaways from this conference was that chatbots should not be used as a direct replacement for human interaction, but instead, they should be used to help supplement it.
In fact, chatbots have been shown in some instances to be more effective than humans when speaking with customers. For example, a study by eBay and Ipsos found that customer satisfaction increased from 73 per cent when interacting with a live chat agent to 82 percent when speaking to a chatbot. This is because people can be frustrated by the time it takes for live agents to answer their questions and often don't even get an answer. Still, chatbots can provide instant feedback and remember previous interactions with customers, which increases the chance that they will get the information they need and makes them feel as though they are being taken more seriously.
Augmented analytics
Another emerging trend is the use of augmented analytics to help gain insights from unstructured data. Most analytics tools on the market today are used to analyze structured data, which is information that has been organized in a certain way so that it can be analyzed easily. This includes things like how many page views a specific webpage gets or how many people use a particular feature of an application. The majority of the world's data is unstructured, meaning it cannot be easily quantified and analyzed. Only about 2 percent of all digital data in the world is structured, while the other 98 percent is unstructured.
To gain more insights from unstructured data, businesses are using augmented analytics. This process allows users to quickly and easily turn unstructured data into structured data through the use of virtual assistants and natural language processing (NLP). Businesses can then take advantage of tools designed for structured data to analyze this new information.
One of the ways that this process has been used is through enhanced content marketing. Marketers use NLP to monitor what people are saying about their brands on platforms like Twitter. Once they have determined which conversations are most relevant, they can jump in and engage with potential customers by providing more information or asking questions to learn more about how they feel. Since marketers can use their existing knowledge of SEO and keyword research to find the right conversations, they can engage with people already discussing topics related to their brands.
Augmented analytics can also provide more personalized experiences for customers, which is another emerging trend. By understanding the data related to how each customer uses company websites or applications, businesses can customize their messaging to meet their needs better. This can involve making recommendations on new products to creating better user experiences. This is especially beneficial for businesses that already collect information about their customers through loyalty programs or other methods.
If you're a business owner, you know that social media is a powerful tool. Not only can it help you connect with customers, but it can also help you learn more about what they want and need. As a business, it's important to stay ahead of the curve and keep up with the latest emerging trends . That's where NetBase Quid comes in. They are an emerging leader in social media analytics, and they offer unique and innovative solutions that can help your business grow.
