The Importance of Conversational Analytics
The Importance of Conversational Analytics
There are many articles extolling the virtues of IoT Technology. They discuss the features and benefits, how it will revolutionize the world and save lives. You read about how businesses are increasing profits, cutting down pollution, growing better crops, and saving a rhinoceros from poachers in Africa. These are all true. However, if you are currently building an IoT based product; or, perhaps, thinking about creating a new product, it’s important to understand the reason behind the mass proliferation of IoT. Who’s funding the technology, and why?
There is a term called Conversational Analytics, which is defined at the data from users’ human to machine (H2M) conversations. For example, when you control your Nest thermostat via your Nest application, you leave a digital “paper” trail. Google, who acquired Nest in 2014, knows what temperature you like to run your air conditioner at, when you typically like turn it on, and when you typically like to turn it off. They also know when your wife changes the temperature and when you change it back. This data goes into the Google marketing engine and helps them display relevant ads on your web browser; ones that you will most likely click on and buy something. For example, if you like running your air conditioner at a steady, Arctic, 65 degrees Fahrenheit, and your wife (when you’re not looking) bumps it up to 75, next time a heat wave is in the forecast, you may see ads for iced tea or air conditioner filters. Your wife, on the other hand, may see ads for sweaters and down comforters. Having this insight into your mind, provides Google with the ability to create a new revenue stream for themselves, which far outweigh any profits they would make on the Nest thermostat itself.
There is a saying that Data is the new oil. The data you receive is so valuable that some companies are actually giving away smart products, either for free or at cost, in exchange for the data it receives based on the users’ interaction with it.
Conversational Analytics can also be used to save lives, as in the following example. There is a company in Germany that had a problem with forklift accidents. The problems weren’t actually occurring in Germany, where they had high safety standards, but rather at their offshore facilities in developing countries, where the local laws about safety were different than in Germany.
Keep in mind, when it comes to something as serious as a forklift accident, being notified after it happened, is like closing the barn door after the horse has already escaped. It’s already happened! The real solution would be to stop the accident from happening in the first place!
In order to do that, we need to understand why these accidents keep occurring. We know the forklift hit something or someone because it’s pretty obvious. However, how many near misses has this driver had before he finally hit someone? Why were there near misses? This kind of data is not being reported at all, for various reasons. So, if you don’t have the underlying data, you can’t solve the problem. This company turned to IoT Technology and Conversational Analytics to help them solve this problem.
They installed proximity sensors on every forklift, as well as the work gear the people wore, such as the vests and hard hats. Any registered violation (meaning, near miss) that was picked up by the sensors, got sent immediately to the shift supervisor and plant manager and was logged in the official company log book.
When it came time for a safety review, it was very clear to see which drivers needed additional training, and in what areas they needed to focus. Implementing IoT Technology helped this company increase the quality of their work and reduce waste by cutting down on damaged goods, as well as reducing injuries and saving lives.
Here is an example of how Conversational Analytics helped a business beat their competition by bettering their product, resulting in an increase in revenue. One of our customers is a robotic vacuum cleaner company in Singapore. One challenge with vacuum cleaners is that they’re not exactly conducive to having workable phone conversations anywhere near them! This company deployed Intelligent IoT Messaging Technology (which includes an intelligent chatbot that’s able to communicate with people over any standard messaging, social media, or chat channel, such as SMS, Facebook, Twitter, WhatsApp, Skype, etc.), and in the first 24 hours, their system recorded many commands to “shut up”, with some colorful metaphors inserted in between those words. Apparently, they wanted a mute feature! Within 40 minutes, this company was able to actually deliver this “differentiating” feature, while the competition wasn’t even aware of the need! Think about it! Within 40 minutes of analyzing their report, a company was able to implement a customer affecting change to their IoT solution, worldwide – while their competition was completely in the dark that the need even existed! Talk about speeding up development time. If you implement this kind of technology for your IoT solution, how will your competition even be able to compare with you?
In conclusion, there are many benefits to IoT Technology. For the end user, the benefits are pretty obvious. It increases the quality of their lives, by saving them time, money, reducing hassle, or bringing them closer to their loved ones. For the manufacturer, IoT with Conversational Analytics helps them create uncapped revenue streams by providing insight into people’s wants and needs, many times before the end users even know that the needs exist!
My question for you is, what kind of data do you wish you knew about your customers?
SimiPlex Technologies helps companies increase their revenues and market share by leveraging our human to machine (H2M) communications platform to make chatting with smart devices as easy as chatting with friends. For example, with our intelligent IoT messaging, Smart Kitchen Commerce users would be able to shop from anywhere on their favorite communications platforms — including SMS, email, social media, messaging, and chat channels — without having to download a separate app!
SimiPlex Technologies provides you with the latest state of the art technology so that you can remain ahead of the competition and focus on doing what you do best, which is running your business, without worrying about your IoT devices.
To learn more, connect with me at firstname.lastname@example.org.
See how intelligent IoT Messaging lets you talk to your devices. Click here for a demo:
- Smart City: https://youtu.be/TowChiucEZI
- Smart City Emergency Notification: https://youtu.be/mCQAWsDybFA
- Smart Home / Smart Kitchen: https://youtu.be/EvN_G-heNXs
Smart Home / Healthcare: https://youtu.be/c9NiYCEQrJw