Data has never been so crucial for businesses. Not only does it allow organisations to know more about their customers, data now enables them to predict what comes next. The ability to forecast using data is called predictive analytics, and it can benefit many sides of an organisation. So let’s discuss how organisations can leverage predictive analytics in chatbots.
What is Predictive Analytics?
Predicting the future and forecasting trends are essential components of many companies utilising and mastering data analytics. Predictive analytics can anticipate events and measure the likelihood of a situation occurring through data.
The exponential growth of data opened a range of possibilities for companies. People produce around 1.7MB of data per second, so there is a lot of valuable information that can guide companies to understand their customer base and take the right step.
76% of companies now have data as part of their business strategies, and 97% use data analytics to improve business opportunities. data has become one of the driving forces of businesses’ strategic decision-making and is shaping organisations’ present and future.
Predictive analytics transforms this complex web of data into predictions that can support businesses to enhance their decision-making processes, improve performance and build a long-lasting relationship with customers. Moreover, it helps organisations prepare for challenges, stay in tune with customer needs, and anticipate possible outcomes.
Chatbot Analytics & Sentiment Analysis
Chatbots have the ability to generate and retain customer data. The chatbot analytics tracks the activity of your bot, and this data provides insights that can identify growth opportunities and areas of improvement.
It also helps businesses to understand their customers. Chatbot data collection facilitates the visualisation of the customer journey and measures how your customer responds to your bot. For example, in chatbot analytics, sentiment analysis allows the chatbot to identify keywords and evaluate the tone of the conversation.
Therefore, companies need to get a supportive chatbot builder with an advanced set of analytics, such as FlowXO. Mastering bot analytics will provide you with the tools that you need to improve your bot and your business performance.
Chatbot & Predictive Analytics: The perfect combo!
Can you imagine having the power of chatbots combined with the accuracy of predictive analytics? What impact could they have on your business?
This integration is called predictive chatbots. Predictive bots are much more sophisticated and interactive than traditional chatbots. These bots can apply predictive intelligence and analytics to deliver a more personalised customer experience and forecast customer behaviour based on data.
The efficient use of predictive analytics techniques in chatbots allows organisations to forecast customer behaviour in earlier stages of the customer journey and act proactively towards customer needs throughout the conversation. As a result, it will enable organisations always to have the best outcome for customers, boosting satisfaction rates and taking business strategy to the next level.
Conclusion
If you want your chatbot to thrive, you must ensure that you have a chatbot builder that provides an analytical vision of your performance. Flow XO offers a complete analytics tool kit capable of delivering a personalised customer experience and generating strategic insights to make your strategy more data-driven and put your business at the forefront.
You can start for free today. Want to know how? Contact us today!