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Top Strategies to Improve and Increase Data Quality

Top Strategies to Improve and Increase Data Quality

 

Organizations face enormous amount of pressure when it comes to face the issue related to data quality. Businesses can only make the right data-driven decisions if the data they use is correct. Without sufficient data quality, data is practically useless and sometimes even dangerous.

 

Regardless of whether your data is structured or unstructured or your data is on-premises or in the cloud, it needs to be on top to deliver business value by ensuring that all key initiatives and processes are fueled with relevant, timely and trustworthy data. Because bad data quality not only costs time and money, in the worst case, it even leads to significant revenue losses.

 

But despite its importance of having data quality, the reality in many of today’s organizations, data quality has been voted among the top three problems for BI software users every year since the first issue of The BI Survey back in 2002.

 

What is data quality?

Defining data quality depends on the needs of each organizations. It can differ from one business to another. As a poor quality of data, especially of customer data, quickly leads to serious problems, therefore for some organizations, it can be ensuring that customer contact data is up to date so that deliveries are received in a timely manner. For other organizations, it could be filling prospects profiles that can be helpful with marketing segmentation effort. Serval factors are being used to determine the quality of data, such as accuracy, completeness, relevancy, validity, timeliness and consistency.

 

Here below are few examples to clean up and improve the consistency and reliability of your data:

 

  • Understand the purpose of your data

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IT department should work with other departments of company to align and acknowledge the problems and negative impact that company can face because of missing or erroneous data. Even though a lot of data today are generated, companies must make a strategy about what data is been collected and for which purpose the gathered data can be used because the collected data should ultimately exist for a business or mission purpose.  For this purpose, they must work to identify incomplete, faulty or multiple existing customer data, because very often, in different departments, different inventory data exists for the same customers. So, paying attention to an error free data can lead to increase data quality.

 

  • Get a Data Control Supervisor from a Qualified Department

Data Control supervisors play a crucial role in the success of a data quality mission. They come from a specialist department and know how to oversee the development and use of data systems. They can discover efficient ways to organize, store and analyze data with attention to security and confidentiality. He is also responsible for creating and enforcing policies for effective data management, formulating management techniques for quality data collection to ensure adequacy, accuracy and legitimacy of data, devising and implementing efficient and secure procedures for data management and analysis with attention to all technical aspects. His goal is to ensure that information flows timely and securely to and from the organization as well as within.

 

  • Implement a priority list of undesirable data

Today many companies are using different equipment (IOT) that records vast volumes of sensor data. Unfortunately, not all the gathered data in company is valuable. Therefore, Data Control supervisor must perform quality checks in order to reject undesirable data. To do this, he must be able to respond to following questions: How and by whom was the data generated? Which users are accessing it? For what purposes are they used by which applications? Which costs cause faulty data?

 

  • Prevent duplicate data

Duplicate data refers to when the same information is somehow input as two separate entries by different people or teams

In the presence of duplicate data, it is very hard to pull out exact results or CRM and Marketing campaigns and can create serious issues when you’re creating automations, looking up buying patterns, or putting together a target audience. So, Data Control supervisors must make sure that company is using a data management software that regularly checks the data for duplicates and cleans it to ensure that their data is clean, has quality, and is reliable to work with.

 

  • Perform regular checks on your data to uncover anomalies

If you want to understand and ensure your data quality, you have to perform regular checks to see if there’s no “bad-data”. Reviewing your data will help you to understand if the gathered data aim for organisations objectivity. As getting 100% data accuracy is not the final objective, Data Control supervisors must be able to pull-up the insights from the data to it’s main goal. Improving data quality is an ongoing process and it takes time to get it right.

Phishing Attack Awareness: How to train your employees not to fall for any Phishing Attack 

 

Phishing attacks are one of the most common security challenges that companies are facing to keep their data secure. As there isn’t any cybersecurity solution that can protect a company 100% from attacks, company must train employees to understand how they can work to avoid falling victim to phishing attacks and not get their valuable data stolen.

 

Phishing costs billions of dollars in lost assets and damaged reputations every year, and the trend shows no signs of decrease. According to Verizon’s 2019 Data Breach Investigations Report, built upon analysis of 41,686 security incidents, of which 2,013 were confirmed data breaches, 32% of all cyber attacks involved phishing. That’s certainly an incredible click-through rate which is exactly why these attacks remain so popular and of course financial gain is the most common motive behind these data breaches.

 

Hackers and data thieves are booming. In the course of the digital transformation, the attack surfaces are getting bigger and the strategies are getting more and more sophisticated. Studies have long shown that human error is a main factor for most cyber breaches, and that some form of phishing trap, it can be via email, web, app, or social network, comprises the first phase of more than 90% of those breaches. In order to counter these human mistakes, many organisations have implemented security awareness programs and train their employees how to identify phishing scams. Here below are tips on how employees recognise phishing emails: 

 

Companies don’t request your sensitive information via email

If you receive an unsolicited email from your provider with a link or attachment and asks you to provide sensitive information or to download invoices, it’s a scam. Most companies will not send you an email asking for passwords, credit card information, credit scores, or tax numbers, nor will they send you a link from which you need to login.

 

Look but don’t click

Phishing pro embed malicious links in legitimate-sounding copy. Hover your mouse over any links you find embedded in the body of your email. If the link address looks weird, don’t click on it. If you have any hesitation about the link, forward that email directly to your security team before taking any other initiative from your end.

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Don’t click on attachments

Including malicious attachments that contain viruses and malware is a common phishing tactic. Malware can damage files on your computer, steal your passwords or spy on you without your knowledge. Don’t open any email attachments you aren’t sure about and forward that email directly to your security team before taking any other initiative from your end.

phishing email

 

Look for email signature and logo

If you look carefully the signature in the mail, you’ll notice that details about the signer or how you can contact the company are missing. It must directly ring a bell that a phishing mail have been sent to you. Legitimate businesses always provide contact details. Check for them!

 

Double check the mail address if it contains domain emails

Don’t just check the name of the person sending you the email. Check also if their email address containe their domain name aswell. Differentiate the right and wrong address. If you receive a mail from Reinhard.demuynck@romi-laundry.be, it would be a correct address but Reinhard.demuynck-romi-laundry@google.be is obviously the wrong one.

 

Phishing, business email compromise and email account compromise cause hundreds of millions of dollars’ worth of losses each year, and this number can decrease if we continue to give employees resources like phishing tests and cybersecurity awareness training to help them not to fall for any Phishing attack and protect the organisation data. 

 

Source:

2019 Data Breach Investigations Report 

Mobile Payments Acceptance in Belgium

Mobile Payments Acceptance in Belgium

 

Mobile payments are transforming the payments industry, versatile innovations in this technology and payment methods are taking customers into a cashless world. These services are offering the possibility for non-banking actors to enter the market. To grasp this test and embrace this challenge, banks, traditional payments market players, are compelled to launch mobile payments.

 

A survey conducted by PWC on Mobile Payment 2019 that analyses customer acceptance of mobile payment in Belgium shows that Belgians are using frequently mobile payment with 47% current usage rate and it’s expected to increase by 68% by 2025.

 

The survey reveals that 47% of Belgians use Mobile Payment via smartphone or tablet. In Belgium, the leading payment method is cash, with 98%. Respondents gives second place to the online payment, with an 83% preference rate. In five years’, time, Mobile Payment is likely to reach a complementary position by attaining a 68% usage rate, rather than replacing traditional methods. Though it would follow that mobile payment users willing to make the digital jump would want to ditch their wallets entirely, that’s not exactly the case. The survey shows that the preference for cash and EC card payment methods is still expected to be over 90%. It tends to be presumed that individuals in Belgium stay wary about biometric and automated payment methods.

 

When it comes to advantages related to mobile payments, among the respondents, 71% consider that Mobile payments makes buying and paying less complicates, 63% are satisfied to be able to check transactions and movements of money on their mobile and 54% are happy about not carrying the burden and risk of having cash.

 

80% of respondents showed their worry in case their mobile might be stolen and misused for mobile payments and 47% thinks that mobile payments encourage to buy more.

Whether Google Pay, Apple Pay or pay by mobile bill, mobile payment is more relevant than ever. Many vendors are joining the hype about paying with your smartphone. But although mobile payment is spreading rapidly, many customers are still skeptical and wary about the trend. Here below are most common myths of mobile payments.

 

  • Mobile Payment is a new Technology

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Mobile payment is well known, not as an advanced development of PayPal, Apple or Google pay. The innovation has been around for over ten years through the form of paying via mobile phone bill. Here you only need a contract based or a prepaid cell phone. A bank account, Paypal account or a credit card are therefore not a requirement for mobile payment.  So, customers may choose whether to make their purchase by credit card, direct debit or simply by mobile phone bill.

 

  • Online payments will bring offline payments to an end

The trend of online payments is growing very fast but regardless of the popularity and growth of online payments, they will never replace the good old cash.

 

  • If my mobile might be stolen it can be misused to make Mobile Payments

This is one of the most across the board explanations concerning mobile payment. Since the start of 2017, all Clean Market Initiative mobile operators and administrators have shut these potential security holes through the redirect process. When a customer wish to purchase from a third-party provider via his phone bill, he is redirected to the service-independent page. There they have to confirm the payment by clicking or with a tan that is given to them by SMS, only. If the customer confirms the payment, they will receive a confirmation SMS after the transaction. The key safety factor here is that the customer is again explicitly pointed to the displayed offer and asked if he really wants to pay. Through the redirect process, paying by mobile bill has become secure and transparent.

 

  • There is no safe protection against misuse of payment by mobile account

A third-party block can be used to prevent unwanted third-party services that are purchased by mobile phone and billed via mobile phone bill. The same applies in the case also for services, which might be used. Thus, no money can be obtained without the consent of the customer, for example by an unwanted subscription, via the mobile phone bill. This lock can easily be set up with the respective mobile service provider. There are also different locking and configuration options that take into account the different usage and consumption behavior of mobile customers. However, after setting up a third-party lock, some comfort must be avoided. For example, it is no longer possible to pay for parking tickets or public transport tickets by mobile phone bill. Even purchases in the App Store, Google PlayStore, Spotify or Apple Music are then no longer possible on mobile bill.

 

  • Mobile payments can be used only for digital goods purchase

Mobile Payment is versatile, both online and offline. The payment method “Number simply by mobile phone bill” allows for the purchase of digital goods, for example, the purchase of parking tickets, public transport tickets and stamps.

 

 

Mobile Payment is a cutting edge, forward-looking and secure approach to pay with your smartphone. Ease and speed of payment seem to be the main advantages of Mobile Payment. Specifically, paying by mobile phone bill brings additional benefits in terms of security, since neither bank nor credit card information must be deposited.

 

Sources:

HyperScale and Data Management

A hyper-scale data center is mega-sized data centres that have a huge number of computers, network hardware, cooling systems, and are able to support thousands of physical servers and millions of virtual machines. As the technology is growing at exponential rates, big providers such as, Amazon Web Services (AWS), Microsoft Azure, Google, IBM Cloud, Oracle, SAP etc are redefining hyper-scale data centres for data storage and optimising speed to deliver the best software experience possible.

 

In this evolving IT landscape, for customers as well as companies, the question arises of which strategy they want to use for their data storage. They can choose from the following two options, either they can outsource and move their data to an external data center facility, either they can choose to move their traditional ‘physical’ data center to the clouds, means instead of investing in their physical hardware’s, they may opt to rent server in clouds. With this process of outsourcing, companies can reduce payroll costs and ensure that they remain up to date with the latest technological advances.

 

This need of outsource has created the requirement of hyperscale data center, which can operate, analyse and model the massive amounts of data flowing through their systems and offer insights into user behaviour that can be used to generate further income streams. As traditional architectures are not suited to adapt to new cloud centric infrastructure and operations, outsourcing Hyperscale represents a lot of advantages. Companies can benefit from a flexible and customizable IT infrastructure at exactly the level of traceability and cost, adapted to their capacity and need for specific workloads. The principle is simple: The low Total Cost of Ownership (TCO) comes from the fact that the data centers are usually equipped with standard and thus inexpensive standard components and second, that due to virtual infrastructures for larger data volume no more space, air conditioning or electricity is needed.

 

However, companies must not only work with one a single vendor. Using cloud services from more than one hyperscaler avoids dependency on a single vendor. Connecting with different Hyperscaler companies can also choose, depending on the requirements, the individually matching cloud service. This keeps them flexible in order to respond quickly and cost-effectively to new business challenges. This approach requires well-thought-out architectures, as in addition to disk space and computing capacity, data traffic also costs money in the cloud. Unnecessary and duplicate data exchange with Second Source can also increase costs.

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But where exactly are the differences in the hyperscalers? Well, the pitfalls lie in the different cloudstack. The most important distinguishing features can be divided into three categories: product diversity, performance classes and workload-specific target groups.

As no company is the same, sometimes performance, sometimes security, sometimes compliance, then again the availability or the costs or criteria such as scalability, connectivity and other workloads have priority. This question must respond to each companie’s need individually in the selection of hyperscaler.

 

Both in strategy and in purchasing, new thinking is required. Because the potential of the Hyperscaler can only be raised if the companies say goodbye to their single sourcing strategy. Multi-cloud sourcing strategies imply that businesses can move from one provider to another at any time and even distribute the same workloads among multiple resources.

 

Public cloud services are now demanded not only by large but also by medium-sized companies as a managed service. Hybrid and multi-cloud models, which constantly analyze new services and integrate them into managed service offerings, dominate.

For the path of the public cloud transformation, the supporting service providers have to offer a wide range of services and technical implementation. They act as partners of the large public cloud providers and have to know their advantages and disadvantages and advise their customers accordingly. Service Providers need to know all the offerings of the cloud providers in detail and to harmonize them with the requirements and business processes of the user companies.

 

Hyperscale computing is highly decisive choice for organizations dealing with large data volume, so the usage of the new computing system will be seen more in the area where companies demand big analytical needs.Since hyperscale computing is attracting more users, legacy methods of data management are no longer enough to meet the data management needs due to explosive data growth. HyperScale Technology provides a modern data management that is scalable, highly resilient, and simple. It allows organizations to manage data seamlessly on-premises and in the cloud. With Hyperscale Technology solutions companies can removes the burden of day-to-day operations with a simplified installation, automated and self-service operations, and update process.

RPA – Robotic Process Automation Benefits in Digital Landscape

Robotic Process Automation Benefits in Digital Landscape

 

Any business who is new to the digital landscape can faceevery day a new way to do business on the digital road. And they can easily get surprise to learn the quantity of time they were wasting by doing their business in anold-fashioned way=manually. Stepping out for a digital environmentadaption will certainly change the way how people used to work.

 

How? Roboticprocess automation (RPA)is made for automation of manual and low-value repetitive tasks, such as,dataentry (order, invoice, etc), looking up information in databases, typing in updates,preparea template, run and download reports, readand reply email, send mails to follow up with customers, etc. And with every manual process, chance of human error is present.

 

Simply put, RPA is used to automate repetitive, rule-based digital tasksbyinteracting withcomputer software and applications and information sources in a betterwaythanhumans do now.With the advances of digital technologies, use of RPA is getting more and more powerful because not only they can handle complex Business Process Management (BPM) activities but they are being use for decision making.

 

RPA can provide many benefits to organizations, few of them are listed below:

 

  • RPA can help in reducing manpower costs of any organizations. As the work is automates and done faster round the clock, companies don’t need to hire a 24/7 working staff. In addition to that, RPA promises to deliver better work than human workforce.

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  • Helps to control and minimize the risk of errors. As RPAs can replace humans in doing repetitive tasks, plus companies can assign humanstasksthat are worthy of their time, skills and experience to the projects that drive innovation and growth.

 

  • Reduce paper waste as it’s one of the biggest threats to the environment. So, in the digital world, RPA can communicate via digital mediums and save and store data in multiple forms in different storage (cloud or in-premises) without any use of paper.

 

  • RPAs are known to do more in less time and are flexible to adapt to any last-minute change in process.

 

  • Organizations can remote work from distance as all RPA software benefit from the centralized management platform. It offers a better business management along with high levels of security.

 

  • Improves customer experience by following up queries without any delay by using its automation capabilities.

 

 

RPA is, without anydoubt, a creative solution to handleissues oftraditional work environments. If properly implemented, businesses can 100%benefit from it and recover their ROI in no time. Also, withthe increasing adoption of RPA in businesses and enterprises, the demand for RPA professionals is increasing. Therefore, companies in future will be successful in they combine human and machines to drivethe best value of their businesses.

 

Sources:

22 Benefits of Robotic Process Automation (RPA)

TOP-5 BENEFITS OF ROBOTICS PROCESS AUTOMATION (RPA) ADOPTION FOR YOUR COMPANY

Business Benefits of Robotic Process Automation

5G Network Use and Benefits

5G Network Use and Benefits

 

The decision to expand the 5G mobile network standard in Europe is intended to offer many new opportunities for both consumers and enterprises.It is certainlygoing to have a massive impact on almost every facet of how we use technology, with faster data speeds, lower latency, and increased connectivity, it’ll open up huge new frontiers in everything from smartphones to self-driving cars.

 

What is 5G?

 

5G is the fifth generation of wireless communication standards,promising much faster data download and upload speeds, wider coverage and more stable connectionsmeans, whatever we do now with our smartphones we’ll be able to do faster and better. The fifth generation of the network standard replaces 4G / LTE as the most powerful mobile network and for the first time offers extremely fast transmission speeds for enormous amounts of data.

 

5G Benefits

 

With 5G integration, consumers are most excited for immersive entertainmentwithfaster data transfer feed, streaming videos from mobile apps, high definition video content,uninterrupted video,driverless cars, zero-delay virtual reality, and no-latency gaming.On the industrial side, 5G is thekey to expandand realizethe full promise of the internet of things (IoT), with its impact to be felt in smart homes, smart cities, and smart industries.

In addition to that, from the end of European Parliament, initiatives have already been launched to accelerate the implementation of5G. According to the Commission, the benefits of the industrial internet are expected to boom, with the implementation of 5G that will transform sectors such as manufacturing, energy, vehicle manufacturing and healthwith the following benefits such as:

 

  • Increase in productivity and jobs: companies willcreate new jobs
  • Innovation and employment benefits
  • New advances in artificial intelligence, data analytics and cybersecurity
  • Possibility to deliver better, faster and cheaper servicesalong with a better customer experience
  • 5G’sgreater capacitywill impact positively on the networks to cope better with many high-demand applications all at once
  • 5G is expected to be ‘ultra-reliable’, means 100% guaranteeconnectivity
  • 5G networks promise to be more flexible
  • Smarteruse of resources such as energy and waterwith the integration of IOT connected smart devices
  • Reduction in power consumption, especially for IoT devices, the power savings could be significant
  • 5G promisesto extend the battery life of devices by up to ten times
  • Due to the extremely low delay times in the data transmission of less than 10 milliseconds, the 5G network can also increase networking and control of machines and robots in real time
  • 5G will unlock the true capability of drones while sending back high-definition video.
  • 5G willenhance the experience of virtual reality allowing you to chat in real time with live-streaming virtual worlds.

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While the 5G network may still be under development, there’s no doubt that 5g technology is going to be a new revolution in wireless communication systems. With every new generation of data network, there are alwayshigh expectations, so let’s hope 5G willdeliver everything it promises, means everything is connected, processed and digitised.

 

Source:

PSD2 – EU Regulation for A Strong Customer Authentication

On 14 September 2019, a new EU legislation called PSD2 aka Payment Service Directive 2 has been introduced across the European Economic Area (EEA) to make online payments more secure with the integration of a stronger customer authentication for online payments/purchases. As per PSD2, most online transactions between EEA- based businesses and consumers will have to undergo a Strong Customer Authentication (SCA). It means that when a customer pays online by card, they must be authenticated in a strong manner, to prove that they are the rightful card owners. The aim is to fight against fraudulent payments and make online payments more secure.

 

What is Strong Customer Authentication?

 

SCA is a process in which cardholders must take extra steps during the payment process for purchasing anything online, or when a card is not physically inserted into a Point of Sale machine by using at least two of these three methods: something the customer knows (such as a password or PIN), something the customer has (such as a phone or hardware token) or something the customer is (such as a fingerprint). This is called 2-factor authentication.

 

When should it be applied?

 

Strong Customer Authentication is only applied when the card holder is not physically present (remote transactions). If an e-commerce attempts to charge a card without performing SCA, there might be a higher chance that the transaction will be declined.

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In which countries will SCA under PSD2 apply?

 

Within the European Economic Area, means the business’s bank from which a customer wants to purchase something and the customer’s bank/credit card company both must be located within the EEA.

Banks will face a real challenge aligning their response to GDPR’s demands for stronger data protection with the PSD2 drive to Open Banking. PSD2 directive is not only a way to improve online payment security, but also a way to improve user experience. For ecommerce players, authentication process occurring during a payment has always been a tricky equation: find the balance between a high-level of security in order to prevent fraud and provide a good customer experience in order to avoid transaction abandon. PSD2 is a solution to solve this equation, and ultimately offer a better and secure payment experience to customers.

 

 

Source:

Strong Customer Authentication – What internet businesses need to know about the new European regulation<  

Strong Customer Authentication (SCA) is coming  

Payment Services Directive 2 (PSD2)  

Risk Management: Protection Against Insider Threat

Characteristics of Insiders at Risk of Becoming a Threat

 

No matter what’s the size of a company, they all have to deal with extension and reduction in their workforce depending on their business and economy growth and objectives at any time. All modifications related to staff can/will also concern their duties and role in the company. As duties change, permissions and access to specific assets should be automatically changed as well in order to fit the new role of that employee. This is the step where companies must be very careful with the access management.

 

It is no secret that companies spend a majority of their security budget on protecting from external attacks but, not only cyber attacks, also insider attacks continue to pose a significant security threat to businesses.Lack of management, to ensure that employee access is limited to systems or data that is required to do his or her job, is a major issue that most companies continue to struggle with. When a companyrecogniz the “threat from within” and strengthened their data protection strategies accordingly, the carelessness of employees must be taken into account.Many insider attacks are detectable if the proper logging mechanisms have been defined in advance.

 

Here below are few tips to control and limit losses and damage caused by “insiders,” such as employees, contractors, and others authorized to access business information and systems:

 

    • Minimizing the Attack Possibilities: Restricting administrative user rights is one of the most effective solution in ensuring the security of systems.User’s rights for operating systems and applications must be solely based on their job. They must not, in any case, be able to change the configuration and operation to their login, otherwise they can bypass critical security settings and access sensitive information. Monitoring applications also helps detect user account access more quickly.

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    • Limit Privileged Access on Accounts:Users account access must be set-up based on their functions and roles within the organization. Organizations may decide to restrict what commands a certain account can execute, such as allowing password resets, but not enabling shutting down the server or erasing data form a file.When an employee has to perform a task that requires more privileges,the administrator can add those those specific functions temporarily into the user’s profile for the duration of the project.

 

    • Access to Store Data: Data obtained from privileged accounts must be stored in a secure, centralized repository that requires password or credentials to obtain access to the necessary system via a multifactor authentication system. In addition, credentials must be changed periodically. On the basis of a strict “Separation of Duties” administrative tasks should be separated according to the roles of privileged users on the basis of a “Least Privileges concept”. Full admin or root access should only be allowed if required.

 

    • Do what you can to detect unwanted behavior: Inform users that they are being monitored all the time for the use of privileged and shared accounts and record all activity so that actions can be assigned to specific users and prevent any damage.

 

    • Control Downloads: Instore a system to control download files on daily basis to detect high-volume or anomalous exfiltration of confidential data. In addition to that, it’s always better to have a monthly statistic on the volume of anomalous email traffic and reports on the use of suspicious internet or traffic from firm networks.

 

    • Employee Performance Evaluations: Extract Individual employee performance reports to detect abnormal performance or behavioral problems via weekly metrics from logs of anomalous activity in proprietary business applications or platforms.

 

The risk of insider malicious threats is increasingly becoming a major enterprise security issue and receiving much attention and care from business leaders because insiders have knowledge, capabilities, and, above all, legitimate access to confidential organizational data. Therefore, the risk of insider attacks is inherent to any business but can be effectively reduced with the integration of a proper strategy. Monitoring and logging employee online activity is one of the effective techniques to control insider threats.

 

Source:

 

Powerful use of AI in Customer Service

Powerful use of AI in Customer Service

AI technology has long history which is actively and constantly changing and growing. As the AI era continues to unfold, it’sset to play an increasingly prominent role in our day-to-day livesand becoming one of the most important technology trends of our lifetimes.

According to researcher Gartner research, 85%of customer service operations will use Virtual Customer Assistants by 2020and will drive up to $33 trillion of annual economic growth. As today’s Artificial Intelligence (robotics) has the capabilities to imitate human intelligenceby performing various tasks that require thinking and learning, solve problems and make various decisions companiescan provide a better customer-oriented service with the use these software’s.

 

Here below are fewbenefits that AI-based systemsprovide in Customer Service.

 

Chatbots

Artificial Intelligence is redefinesthe customer service standardswith the use of advances chatbots. With chatbots, powered by AI, answers can be found automatically for a large number of customer questions,better and quickerthan by the call centre employees.However, for chatbots, clearly defined tasks should be defined; basically, they are most efficient when addressing a limited topicBut as Natural Language Processing and Machine Learning are making these Chatbots work far better, and their scope in providing service is increasing as these bots process more information and detects consumer behaviour in all terms.

 

Multi-channel Support

Artificial intelligence customer support has capabilitiesdirect the customer quariestowards alternative support channels when necessary. For example, if a Chatbot is unable to solve a particular query, AI will direct the customer to the call support channel to resolve the issue. This provides a bettercustomersservice, as theyhave their issues solved efficientlyand quickly.

 

Automated Response

AI and automation are already having a profound effect on business communication. With the use of automated response system, AI can take-off a lot of load from customer service teams. With the integration of automatic replies, they can save time and offer quick replies.Based oncustomer data, AIcan help identify customer issues and concerns even before they get in touch with customer serviceand generate the answer that is directly related to that customer’s situation.

 

24/7 customer service

For a company, either is a medium or large sized, it’s impossible to hire a customer support available 24/7 as its overall cost can exceed their budget. Thus, AI is the solution that can manage flawless their customer service operations with itsimpeccable capabilitiesofhandling all problems with fluency and precision.

 

Language barrier

A company that is expanded at multiple locations might face difficultiesto provide acustomer support network in different regions with different time zones. But no matter what your communication medium or language you want to install, AI can managefast, reliable, durable, multilingual and hassle-free technology. These are, of course, some few promises of AI for your business.

 

With the use of artificial intelligence in the field of customer service, companies aim to realize an optimized customer experience – across channels and in real time. First and foremost, AI technologies and machine learning processes are elementary tools to achieve a significantly higher level of customer focus.

 

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How Companies can overcome the Challenges to their Digital Transformation

 

It’s 2019 andthe digital transformation is still a hurdle and bring some major obstacles for companies. Those times when companies could opt for or against the digitization of their business processes, products and services are long gone because it’s no longer an option, but a survival strategy to stay in the market therefore IT departments and IT companies must overcomethis challenge in order to survive in a competitive business world.

 

To successfully overcome digitalization challenges IT departments and IT companies must always be double tracked. On the one hand, there is a need for new technologies to adaptthe existingIT systems in line with new market conditions, competitiveness and customer orientation. On the other hand, a good corporate organization must be able to constantly develop and act flexibly. It is only with the collaboration andexpansion of the two unitsthat companycanbe certain that they are in a good position to innovate and to survive in the digitized market era.

 

Therefore, in the following, we have put together practical techniques for digitization as well as methods for agile organizational development, with which IT departments and IT companies can overcome hurdles on the path to successful digitalization in a structured way.

 

  • Focus on delivering the best Customer Experience: The priority of a company to use digital technologies is to offer their customer’s a unique and unforgettable experience. Enterprises must see customer experience as an increasingly important differentiator.

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  • Short-term projects: Avoid making strategies for a short-term period. The planning for digital transformation adoption goes beyond than few months. As Digital transformation projects involve a big staff internal and external for an unpredictable period, costs and time must be well calculated in advance.

 

  • Hyper-personalization: Customers increasingly expect an advanced and real-time customization of products, services, content and customer experience at an individual level. Designed to perfectly match their preferences, needs and expectation. To leverage this hyper-personalization, tailor-made solutions must be use with the integration of Big Data and Artificial Intelligence technologies.

 

  • Transparency for the user: Enable users to understand how the personalization of the systems operates and control their models so they can engage more in self-awareness, trust and confidence.

 

  • Change Management: Lack of change adoption in companies is one of the biggest obstacles in the way of digital transformation. They must understand that with the adoption of the change management, organizations can easily and more quickly respond to client demands. Helps to align existing and solutions within the institution.

 

Companies must deal with ever-new waves of disruptive technologies that impact every aspect of their organization as well as their business ecosystem. Cloud Computing, Social Media, Augmented Reality, Virtual Reality, Blockchain, Artificial Intelligence, Big Data, the Internet of Things – all of these and more have hit businesses over the last decade, and each of them requires a certain level of technical skillsets to design and implement new solutions.

 

The role of digital technology in the overall value creation of any business has become so prominent, that we witness a radical reshaping of traditional industry boundaries as virtually every business is becoming a technology company. No matter if it is food, travel, entertainment, construction, automotive, agriculture or any other sector – they all are more and more dominated by the digital paradigm.

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