The future of data analytics. This is how Augmented Analytics is known, or Augmented Analytics, a trend capable of facilitating processes for data scientists and various areas of a company, including marketing and sales. This is because it is an advanced information processing tool, which, as is known, is increasingly valuable for business.
At first, it may seem like a complex concept, but in reality, it is simple to understand. Augmented Analytics is a segment of augmented intelligence that automates data insight through big data, machine learning, and natural language processing (NLP) capabilities to revolutionize how analytical content is created, consumed, and shared.
With the use of technology, organizations can become more competitive, reduce costs and optimize results. For the marketing and relationship area, it is a great differentiator as it allows a much deeper understanding of potential customers, and at the same time as there is essential agility and productivity in a market that is in complete digital transformation.
What Is The Difference Between Augmented And Traditional Analytics?
According to an estimate by Gartner, today, Business Intelligence professionals who do not use Augmented Analytics spend approximately 80% of their time collecting, preparing, and cleaning data. Using the resource makes it possible to perform robust analysis, exploring numerous relevant information commonly used in a small fraction of the time.
This is the only way to get an idea of how technology can contribute to the daily lives of companies. Another aspect that sets it apart from traditional analytics is the ability to include natural language processing and conversational interfaces, enabling the human workforce to interact with data and insights, significantly optimizing productivity and decision-making.
What Are The Benefits Of Adopting Augmented Analytics In Marketing?
Augmented Analytics is one of the elements that will completely change the processes performed by marketers today. In practice, executives, managers, and other professionals in the area who depend on third-party analyses to measure results and plan, making the work time-consuming, unproductive and expensive, now have process control.
As can be imagined, this reduces costs to the same extent that it optimizes the development of campaigns and customer relationship actions on a much more detailed basis. Check out some advantages of its use:
Integration Of Data Sources
To offer a good consumer experience these days, it is essential to provide several relationship channels. However, to have the necessary relevance, a large volume of data must be analyzed, initially in isolation, and then integrated into reports and systems.
Augmented Analytics allows deep integration of data sources from, for example, pages on social networks, blogs, and keyword searches on Google. Besides being collected, the information is clean and brings intelligence to the area without requiring extraordinary efforts.
This allows professionals to manage the tools optimally, making bold decisions that promote positive perceptions, engagement, and loyalty.
With Augmented Analytics, everything flows faster in the marketing industry. Technology takes on a large workload, meaning that professionals do not need to look for patterns and trends, as machine learning can find them without human intervention.
By not dedicating themselves to technical and operational issues, they can focus on creating solid and lasting relationships with customers, generating value for the business, and obtaining better results.
Facilitates Analysis Of Online Behavior
The consumer buying journey is not linear. Before deciding on a particular brand, they browse the site, then go to social networks, which take them to the blog until they return to the site.
Through Augmented Analytics, you can compile data-rich profiles from different audience segments. The technology captures all the user interactions with the brand, demonstrating their characteristics, preferences, and difficulties they may have presented along the funnel.
This behavior analysis significantly favors the marketing area, which, in turn, can create segmented actions that exactly meet it.
How Can The Sales Area Benefit?
Marketing and sales are interdependent areas. While one is responsible for attracting leads, the other must close deals. As Augmented Analytics significantly favors marketing, sales are automatically more likely to happen.
For the e-commerce sector, specifically, the data provided by technology can bring benefits such as:
Today’s consumer wants to be served hyper-personalized, so they can navigate easily, have their questions answered immediately, and place their orders as quickly as they receive them at home.
In addition, during browsing, you expect to find products that meet your expectations without wasting time. Otherwise, you can give up and look for the competition. According to a Boston Consulting Group (BCG) report, retailers that implement personalization and recommendation tools can see a 6% to 10% increase in sales, a rate two to three times higher than those that do not.
With advances in Augmented Analytics and integration across platforms, it is possible to collect and analyze data from different channels to deliver unique and personalized experiences, increasing conversion and reducing transaction time.
Dynamic Pricing Implementation
The dynamic pricing strategy, which changes product values according to supply and demand, is favored with Augmented Analytics. This unlocks access to more detailed data, allowing prices to be raised or lowered in real time as the process unfolds.
With the feature, it is possible to analyze customer data, competitive prices, and sales transactions to predict discount offers, on which products, and dynamically calculate the minimum discount needed to guarantee the sale.
Large companies that already use the strategy, such as Amazon, are quickly leaving the competition behind.
The practice of monitoring the actions of consumers in virtual stores to assess the usability of pages, identify points of improvement to optimize conversions, and develop predictive models is already familiar.
However, with the help of Augmented Analytics, all these actions can be made much more efficient. With quick access to a large volume of data, which would be impossible to collect and analyze without the help of technology, companies can develop robust strategies to constantly improve the store and offer a positive experience that generates sales.
Also Read: How Digital Marketing Can Help B2B