When chatbots meet Business Intelligence | Engati
Real-time Business Intelligence data is the need of the hour for enterprises. But are current systems holding you back? Here’s how chatbots can empower your organization.
Business Intelligence systems is a necessity. To succeed in competitive markets, business leaders must be aware of trends, insights, and processes. Instant access is crucial.
A real-time enterprise without real-time Business Intelligence is a real dumb decision.
- Stephen Brobost (CTO, Teradata Corporation and Managing Director, Sampa Technologies & Systems)
But before we dive in, let's sort out a few things -
What is Business Intelligence?
Business Intelligence are an enterprise’s theories, processes, and architectures. It's also the analysis of business information. It’s about collecting large pools of data, whether it's current, historical, or predictive and transforming it to drive profit. The aim is to find relationships between your data to take you from action to goal.
The need for Business Intelligence
Currently, Business Intelligence measures and analyzes:
- Customer behavior
Customer Experience, customer buying patterns, customer decision-making
- Financial performance
Measuring and tracking sales, predicting future sales
Analyzing the sales funnel, tracking the effectiveness of campaigns
- Relationship management
Customer relationship management, human relationship management
- Supply chain management
Business Intelligence tracks current data to further empower Business Analytics. Business Analytics can then solve future problems with this collected data.
Business Intelligence is used everywhere and by everyone. It’s not industry-specific.
How Business Intelligence systems are implemented
It’s a three-step process.
- Data gathering
First, you gather the raw data and input it into a data warehouse.
- Data Storing
The data is then cleaned and transformed from raw to structured data. It’s then stored in data system for you to access at any time.
- Knowledge management
Structured data can be transformed into reports. You can ask queries, request reports, and analyze data to enable quick decision-making.
Typically, these kinds of metrics are measured:
- Performance metrics and benchmarking
- Analytics (data and process mining, statistical and predictive analysis, modelling, etc)
- OLAP, data visualization
- Data sharing and electronic data exchange
- Knowledge management (learning management, regulatory compliance)
As processes become more complex, enterprises demand for a system that keeps up. And not only for those amongst the C-suite, but for employees as well.
The benefits of Business Intelligence systems
In the past, IT professionals were the primary users of Business Intelligence systems. But now, these systems are becoming more accessible for everyone within the organization.
Bird’s eye view of data
A good Business Intelligence system lays all your data in front of you- both historically and in real-time. Thus, allowing you to align your strategies with your business activities. And further enabling better decision-making.
Tracking these metrics as it’s happening in the present, also helps you understand where you’re succeeding, and where you need to ramp up. This sort of data transparency also motivates employees. Processes become less erratic, and more goal-oriented.
Data visibility is power. And providing access to relevant metrics helps employees in understanding where they stand in reaching their goals. Thus, boosting internal productivity. And a boost in productivity means happier employees, which then leads to happier customers.
Where current Business Intelligence systems are failing
Good business intelligence systems should provide you with an effective way to measure metrics and indicators. It should also be accessible to everyone in the organization.
However, the current landscape of Business Intelligence systems leaves a lot to be desired. Most enterprises find that these systems are:
- Not user-friendly at all
What’s the point of having access to all this information on a system no one wants to use?
Where future Business Systems is heading towards
The future of Business intelligence heading towards more accessibility. Employees want to have access to data without any dependencies on seniors. It’s heading towards self-service, and having access to data from anywhere. Whether it’s on a desktop application, or a mobile device. And there’s a need for speed, which is why we’re shifting from graphical user-interfaces to conversational interfaces.
How chatbots raise Business Intelligence and success rates
Need for speed
Current graphic interfaces are extremely bulky. There are too many parameters to choose from, and then there’s the issue of slow loading times. What if you could simply ask for your requirements without looking through 100+ parameters? Wouldn’t that be simpler?
Well, it’s possible. Conversational Interfaces provide easier access to enterprise data in a relevant user-friendly format. And when backed by powerful DocuSense technologies, it’s even easier. DocuSense scans through 12 pages of information every 8 seconds. There’s no need to scan through all of these parameters- just input your questions to your chatbot and get immediate answers.
Organizations can build Business Intelligent chatbots which provide decision-makers with critical business metrics instantly. But Business Intelligence chatbots are for employees too. Chatbots can help in improving data fluency for everyone in the organization. And it can help in building a real relationship with your data.
Currently, processes aren’t optimized, and it’s doing more harm than good. Because of how tedious it is to generate and find reports, productivity within the workplace would be affected.
But your business intelligence chatbot can find and deliver these reports. Thus, these data-driven insights can help you make crucial business decisions in a faster and cost-effective manner.
The perfect sidekick for the remote-worker
Business Intelligence chatbots become even more powerful when integrated with Cloud computing and other applications. Imagine having access to business data wherever you are. Whether you’re in the office, or from home, your data is with you wherever you go.
Chatbots are also always available. Whether your employees are night owls or early birds, your chatbot is available to assist them with their tasks.
There are a lot of complexities within your enterprise, and you need an infrastructure that supports that. Having access to a flexible chatbot platform can help with optimizing your processes.
To sum it up
Your enterprise deserves a Business Intelligence system that empowers everyone. And an Engati chatbot does that perfectly. So, what are you waiting for?
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