Data analytics has today become a necessity for any organisation irrespective of the size or industry it belongs to. From customer service and new recruitment to ensuring security and optimising day-to-day functions of the business, the applications of data analytics cannot be overstated for any business. With the emergence of new technologies such as AI, IoT and availability of many open source platforms, data analytics industry is undergoing a rapid transformation and therefore it has become imperative for businesses to remain at par with the evolving trends.
Customer service being data-centric
Consumer behaviour is being increasingly acknowledged as one of the differentiating factors for any business. This is because unlike earlier, today, information related to customer behaviour, trends and perception can be directly acquired from data. WGD Analytics is one such company that offers various analytics solutions to business organisations. It analyses the data collected from clients including social media data and helps them derive meaningful insights into customer behaviour so they can strategize their business functions accordingly.
Conversational analytics on the rise
Studies have shown that in the next few years, most of the analytical queries will be done through voice and natural language processing incorporated in various analytics tool for ease and convenience of use. Conversational analytics, enabled by NLP, is being increasingly used in many companies and considering the numerous benefits it offers, it is most likely to continue as a trend in the analytics industry in the coming years as well. Senseforth.ai, a Bengaluru-based organisation, offers such AI-powered conversational analytics tools to companies across various industries such as banking, healthcare, retail, insurance, education, etc and facilitates personalised interactions with customers.
Data security and privacy
As the rate of technology advancement increases, so do the risks and potential threats that come with it. Cases of data being breached and sensitive data being compromised are nothing unheard of in any industry. Therefore, for businesses, ensuring data security from external threats has become one of the major concerns.
In India, there are several companies that offer various analytics solutions with regards to security, review collection, customer behaviour,etc some of which include Amlgolabs, Bewgle and WGD Analytics. With data proliferating at a rapid pace, leveraging data analytics to make informed business decisions has become the need of the hour for any business.