We’re always looking for ways to improve operational performance. The question is: how? Take a look at some of the newest and highest performing companies in the world right now. Amazon, Netflix, Airbnb and Uber all market different products. However, what they have in common is a shared focus on analytical strategy and a foundation in using algorithm for understanding the market. They understand how to proceed with operations.
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6 ways of boosting yourself operational performance
Here are 6 different ways of improving your operational performance, no matter which industry your business is based in.
1- Natural-Language Generation (NLG):
- A subset of Natural Language Processing, it is used in several different applications, but for our purposes it is very important in the production of the conversation content in chatbots.
2- Speech recognition technology:
- This very complicated software, made popular by Apple’s Siri or with Google Assistant, works by recognising and decoding human speech and ensuring it is perceptible for a computer and to make subsequent commands. Over the years its database increases by hearing many varied languages, dialects and ways of speaking. It’s mostly used for voice search, voice dial and annotation.
- An absolute celebrity in the operational performance world; chatbots’ main use is increasing customer service potential, and taking the heft out of the customer service work for you. Furthermore, chatbots respond much faster than humans are able, with more direct and relevant answers. The result is more content customers.
- Typically found in marketing research applications, biometrics is great for being able to understand your employees and their behaviour better. It does this by measuring physical and behavioural characteristics and identifies voices, images, gestures and employs sensory recognition.
5- Text Analytics and Natural Language Processing (NLP):
- Commonly used in search engines, it deals with teaching a computer to understand natural, human languages, particularly in large amounts. As a result, for your business it is an essential part of your chat bot integration.
6- Machine Learning Platforms:
- Often working in tandem with AI, Machine Learning (ML) concerns precision of information and clarification of the content produced by AI.
AI in sales: the best example of its impact on operational performance
The decisions AI makes are based on algorithmic data. This algorithmic data accelerates operations, allowing for greater customer-vendor relationships. You can compare these processes to traditional ways of doing things, such as cold calling. Cold calls, as well as all their other issues, are extremely inefficient. On the other hand, a chatbot can, in comparison connect to a virtually limitless amount of people in seconds. Cold calling, however, takes a lot of person-hours within a specific timeframe. Other available professional networks, such as LinkedIn are useful, but don’t give us the whole picture of what’s necessary.
AI and chatbot software often work very closely with social networks, allowing you to get the word out about your company or brand quickly and efficiently. Furthermore, you can then easily send them promotions or organise meetings all through the automated workflow of Artificial Intelligence.
Patience is a virtue
AI is not an instant solution to operational performance problems. It requires a little time and effort to set up well, as the machine has to learn what you need, what will be best for your audience and to learn about your business. Data and information are given only by humans, and the amount of time spent on this depends on the expansiveness of your business. The benefit, though, is that once set up, it requires very little maintenance. AI builds on mistakes and automatically improves them for the next time the issue arises. After inputting data into an AI system, the return you get on customer service improvements, speed and consistency of operations, and measurable insights is invaluable.