Almost a year and a half ago, Justin Flitter sat down to talk with our very own Ritesh Bisoi on the benefits of using AI for customer analytics. The interview was featured on Medium, and although it was uploaded nearly 18 months ago, it’s still a great review of how businesses in all sectors can leverage AI to uncover insights that directly impact business operations, revenue, and growth. As Ritesh points out, Ipiphany “is a valuable tool for anyone who wants to look at a previously untapped data source to drive business improvements.”
It begs the question - why do so many businesses have massive pools of data they aren’t using? Simply put, it’s because traditional computing methods weren’t advanced enough to handle this type of data. In order to sort and quantify unstructured data (things like customer reviews, social posts, CRM data, and NPS comments), a human analyst was required to read and categorise each item. When you’re a small startup with 50 reviews to analyse, this isn’t a huge outlay of time, but if you’re an international company with 500,000 such reviews, things get a bit dicey. Justin uses a gold mine metaphor to illustrate the painstaking task of sifting through hundreds of lines of data to find a few gold chips that might lead to useful insights. When you think about the effort early prospectors went through to find a few gold chips smaller than a fingernail, it’s not hard to imagine what an analyst might go through today.
The good news? Your analyst’s fruitless prospecting days are over. Ipiphany uses Natural Language Processing to review those same 500,000 (or more) unstructured comments, understand the specific context of the conversation, and collate the results into actionable insights. These insights can be viewed by businesses using their preferred metrics and used to directly inform business decisions. All of this can happen in less than the time it would take a human to make a cup of coffee and start reviewing the first 50 comments.
Ipiphany’s true power is the ability to provide an evidence-based understanding of a large amount of data across all channels in minutes. This hasn’t changed in the last 18 months, but the tool has grown more powerful and now has some incredible new features. I highly recommend watching the video to get a good understanding of the tool, but if you’d like to schedule a demo using your own business data to witness the power of Ipiphany in real time, send us an email at email@example.com and let us know what you’re looking for!