Cognitive Insight Use Cases
We are all familiar with Apple’s Siri, Amazon’s Alexa, and Google Now, the masterpieces of Artificial Intelligence. They have successfully opened the doors of human-like interaction with devices like our phones, our laptops, and even household devices.
The number of popular virtual assistants is still not impressive. However, sooner or later, businesses will realize their importance. They could reduce the workload of employees by gathering more information online.
Big Data analytics is usually the first time companies get to work closely with Artificial Intelligence. AI acts as a data synthesizer by reviewing the data you currently have and trying to add context that relates to your goals.
Businesses can use data synthesizer tools to look for trends popular among their target audience. Data synthesizers are the primary use case cognitive insights, as they analyze data to identify patterns and reveal opportunities. You may think of opportunity as a gap that the potential product could fill and instantly grab attention.
Businesses need to listen to their customers and understand their sentiments, to figure out how they perceive their products.
Today customers share their opinions and feelings on social media. In the end, there is a lot of unstructured data to progress.
AI provides such sentiment analysis tools to identify the emotional tone in comments and gain fast, real-time insights from vast customer data. Of course, the foundation of sentiment analysis is on Natural Language Processing and Machine Learning. Both of them are the subsets of Artificial Intelligence.
Perhaps, the term is new for many of us. Competitive Intelligence is the process of collection and analysis of actionable information about competitors and the marketplace to form a business strategy.
Use AI-powered tools to collect competitive intelligence and understand the strategies that your competitors use. Tools are powerful enough to scroll over millions of web pages and reveal valuable business insights. Manual collections of the same information could require laborious effort and an infinite period. While the tools give you a complete digital footprint of competitors in a shorter duration. The human error element just disappears.
Online buying decisions heavily rely on customer reviews. According to a study from Dimensional Research, positive reviews influence 90% of online buying decisions. But the same research suggests that 86% are influenced by negative reviews as well.
Customer reviews are a cornerstone for trust in the online world.
Astroturfing is the practice of creating false and deceptive reviews that the customer thinks to be genuine. They believe it to be a neutral third-party review. Even Amazon is not safe from this.
AI can help combat fake reviews in two ways. First, it can ensure that the review comes from verified purchases. Second, we can use it to mark positive reviews as helpful.