It is critical to analyze text and speech data efficiently with the staggering amount of unstructured data that’s generated every day. Natural language processing (NLP) is a branch of artificial intelligence that helps computers understand, interpret and manipulate human language. NLP draws from many disciplines, including computer science and computational linguistics, in its pursuit to fill the gap between human communication and computer understanding.
At RIG, we integrate the ability of AI and NLP to discern patterns in complex datasets to make better predictions and recommend better solutions to our clients. Here are some of the applications of NLP:
NLP is a great tool to comprehend and analyze the responses to the business messages published on social media platforms. It helps to analyze the attitude and emotional state of the writer (person commenting/engaging with posts). It is implemented through a combination of Natural Language Processing and statistics by assigning values to the text and in turn making efforts to identify the underlying mood of the context. This helps in gaining insights on consumers and do a competitive comparison and make necessary adjustments in business strategies, whenever required. Such data is also useful in designing a better customer experience and enhancing the product. Furthermore, sentiment analysis or emotion exploration is a great way to know about brand perception.
Chatbots are the solution for consumer frustration regarding customer care call assistance. They provide modern-day virtual assistance for simple problems of the customer and offload low-priority, high turnover tasks which require no skill. Intelligent Chatbots are going to offer personalized assistance to the customer in the near future. Many Industry analysts also predict that Chatbots are an emergent trend which will offer real-time solutions for simple customer service problems. They are unquestionably gaining a lot of trust and popularity from the consumer as well as engineers.
Ensuring customer loyalty by keeping them content and happy is the supreme challenge and responsibility of every business organization. NLP has aided in multiple functions of customer service and served as an excellent tool to gain insight into audience tastes, preferences and perceptions. For example, a call recording of the customer can give insight into whether the customer is happy or sad, what are their needs and future requirements. NLP could aid in translating the caller’s speech into a text message which could be easily analyzed by the engineer. To sum up, this would be a great way to get to know the pulse of your audience.
Managing the Advertisement Funnel
What does your consumer need? Where is your consumer looking for his or her needs? Natural Language Processing is a great source for intelligent targeting and placement of advertisements in the right place at the right time and for the right audience. Reaching out to the right patron of your product is the ultimate goal for any business. NLP matches the right keywords in the text and helps to hit the right customers.
Business markets are influenced and impacted by market knowledge and information exchange between various organizations, stakeholders, governments and regulatory bodies. It is vital to stay up to date with the industry trends and changing standards. NLP is a useful technology to track and monitor the market intelligence reports for and extract the necessary information for businesses to build new strategies. Widely used in financial marketing, NLP gives exhaustive insights into employment changes and status of the market, tender delays, and closings, or extracting information from large repositories.