Exploring Automated Data Interpretation and Why You Need It
There are a lot of technology blogs about the future, so we wanted to focus on the most exciting communication innovation available right now—automated data. Automated data provides a consolidated view for leaders to interpret and make game-changing decisions that drive innovation and growth. This is a very useful and early application of AI, and it holds the promise to improve customer engagement tenfold.
Introducing Automated Data
RIGHT NOW, automated data is the hottest thing. Forbes recently named it a megatrend that will change the world in 2018.
Before we begin to understand how this trend is reshaping business, let’s briefly recap the history of data, because data has undergone a linear progression that tells us why we are where we are and why data analytics is so exciting.
Data: The History
Before computers, we didn’t really know anything about data. Then the computer came along, which gave us the ability to collect massive amounts of it. Then we had all this data but no way to store it, so we invested in storage technologies—hard drives, servers, etc. At this point, we had a lot of data sitting around, so we needed to find ways to protect it and scale up. So we created the cloud, which allowed for multiple access points, reliability, security and the ability to scale. In recent history, we’ve run into an interesting predicament—we have all this data but no time or resources to interpret it.
That brings us to where we are now. The most exciting thing happening in communication technology now is our ability to collect, consolidate and standardize boatloads of data at the drop of a hat, revolutionizing our abilities to improve customer experiences, optimize spending and even develop new business. Data automation will soon become so efficient that it’s estimated 47% of jobs will change for good. In another blog this month, we contemplate that very question: how will AI change the workforce? See that blog here.
How Automated Data Is Changing Business
It has never been easier to connect different data sources together. It may sound boring—consolidating data to more easily analyze it—but the benefits are profound. Below are the significant ways data automation revamps business.
1. Improved Customer Experience
Data automation allows us to track user experience like never before. For example, now we can see if an individual has called in, filed a ticket or tried to connect with support staff. With all these clues in one location, it’s safe to say if an individual is or is not having a positive experience. We even have voice automation tools to detect when someone is upset. With so many tools at our fingertips, now we can reach out, ask what went wrong and correct that user’s negative experience. Of all the businesses leveraging data to improve customer service, Amazon is an industry leader, providing some of the fastest service with the highest customer ratings.
Data automation places all user interactions in one location, connecting billing, sales and support. Then automation scores that customer engagement, which is then reported to decision makers. If someone’s score is low, that prompts a timely and appropriate response—an opportunity for businesses to show customers they really care.
2. Improved Organizational Functions
Not only can we interpret data on an individual level, but data also reveals issues at the organizational level. In this case study, this phenomenon was referred to as the “management revolution.” One example of management revolution is this: If your business received 20k calls last month, and 40% of those calls ended before ever reaching a representative, it may be a sign that it’s time to rethink your phone tree system. This is just one example of many potential cases.
3. Empowered Decision Makers
Data consolidation and automation are here, and they empower decision makers to make calculated assumptions about what improvements are necessary to optimize business processes. Ultimately, this opens the door to important conversations amongst people that lead to stronger, more transparent communication efforts.
Companies are no longer segmented by different departments. With unified data, decision-makers have the opportunity to take actions that make customers and employees feel increasingly valued.
At the end of the day, the leading character in this story is technology. There would be no data and analytics revolution without easily accessible, affordable computing power: cloud, Internet, versatile software, etc. And leaders are equally as important. The leaders who mobilize their organizations to embrace the promise of analytics, the frontline people who experience how analytics are changing their roles, the data scientists and IT engineers who do the hard work of collecting, classifying, organizing and deploying staggering amounts of information — they all help us gain a better understanding of the scope and meaning of this revolution.
At Select, we fully embrace technology that improves customer experience, value and engagement. As a trusted advisor, we’re here to guide organizations toward technologies that optimize spend and success as well as client and employee satisfaction. If you’re interested in communications technology that meets your needs and scales, call us at (855) 966-4236 for a free cost analysis today.