Understand the world through data | Bob E. Hayes on Engati CX
In this episode of Engati CX, we are joined by Bob E. Hayes to talk about how to understand the world through Data.
Bob E. Hayes is the president of Business over Broadway. He conducts research in the area of customer experience, data science, customer feedback, and provides consultation to help clients improve the way they use their customer data.
He has over 25 years of consulting and research experience in enterprise and midsize companies, including Microsoft, Oracle, Agilent Technologies, and more.
Bob has published numerous articles in both scientific and trade journals and presented at national and international conferences as a keynote speaker on various topics.
Bob E. Hayes - Understanding the World through Data – the video interview
Summary of “Understanding the World through Data”
This section will contain a quick summary of our interview with Bob. But, if you’d rather hear it, we’ve got our Spotify podcast embedded below.
How does the world of algorithms help and how prevalent do you see AI becoming in decision support?
The current algorithms, as a result of machine learning, it’s everywhere, according to Bob. If you’re not using this data, if you’re not looking at these algorithms, then you’re already behind. Data helps businesses in two ways-
1. Helps build better automated systems
For example, the use of data and algorithms help build incredible, and knowledgeable chatbots.
2. Helps decision-makers make better decisions
Data helps you understand how the world works. For example, say you have a company that offers an incredible range of products. And in addition, you also offer great customer support. How will you know what the better driver for loyalty is? If you look at it as an empirical question, you can collect data and find out what the better predictor is.
The bottom line is, analytics teaches you how the world works, how businesses run, and what factors you have to pull to make changes happen.
How would you go about designing a superlative customer experience using a data-oriented approach?
So Bob is a huge fan of data, so he takes a data-driven approach at all times. One of the things he likes to do is conduct customer surveys, collecting feedback from customers. He enjoys linking up survey data with more objective measures. He encourages everyone to quantify and to understand that customer touchpoints, wants, and needs are the best predictors for loyalty.
You can also understand where you’re not doing so well, so you have the biggest opportunity for improvement.
What is your perspective on the use of automation technologies for customer service and support? And where do you believe the future of customer service and support is headed?
Firstly, Bob prefers looking at AI as Augmented Intelligence, over Artificial Intelligence. He does not think we should completely replace employees with automated systems. He personally strives for using AI to help current employees with solving simple problems for customers. When a chatbot cannot handle a query, it should be transferred to the appropriate person. Whether it’s a customer service representative, or someone from the support team, or HR.
AI isn’t here to replace people, it’s here to help us become better employees. It’s a supplement.
The sheer amount of data available could be overwhelming to some businesses and the cost of hiring high-end data analysts and scientists can be out of reach for most SMEs. What do you recommend for such businesses?
First, define what problem you want to solve. You have to have a goal. Then based on the problem, figure out what you want to do. If it’s a small problem, start small and hire a team to address that particular problem. For example, if your issue is related to not having enough people to handle clients for customer support, a tool like Engati can help by offering support via Chatbots 24/7.
What do you believe is the future of conversational intelligence technologies or chatbots?
AI Chatbots and conversational intelligence are going to be super useful in the future, according to Bob. He’s not sure if we’re at the level to rely on chatbots to handle everything, but it’s a good way to triage incoming calls. Once things get complicated, a live agent should take over.
There’s no limit to imagination. Even with the rise of new technologies like sentiment analysis, natural language processing, etc. As algorithms become more complex, there’s no end in sight. So even though we have a long way to go, that doesn’t mean we should stop trying.
What would we need to change for businesses to operate in a post-pandemic era, specifically as it relates to technology, AI, data science, and automation?
If we’ve learned anything from this pandemic, we need to all be digitized as companies.
Digital transformation has accelerated because of the pandemic. Work from home requires all of us to become digital, to use new technologies. So if we haven’t embraced new technologies yet, we must. Necessity is the mother of invention, so he’s excited for what’s to come.
Are there any thoughts you’d like to share with our audience?
Bob encourages all of us to become learned in data literacy. We all should learn about statistics and the language of data. Otherwise, we’ll be lost, and we will get left behind.
According to Bob, chatbots and conversational intelligence are going to be super useful in the future. So why not get started right away?
Prioritize and analyze data as per your personal specifications. Register today, and build your chatbot that helps you manage your data efficiently!
A Spotify Podcast with Bob E. Hayes
We hope you learned a lot about understanding the world through data in this interview with Bob E. Hayes. Engati CX will be back with a new expert in a new episode soon. Stay tuned.
Find Bob E. Hayes
More from Engati CX
Now that you’ve found some customer insights on how to understand the world with data, you should definitely check out our interview with Vikaas M. Sachdeva on the shift from Finserv to Fintech.
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