BÜLENT DAL | CEO
I have been writing on cognitive computing for a while. However, the effect of cognitive computing on customer experience and phygitalisation, increased my apetite to focus for this post.
Cognitive computing can be defined as the simulation of human intelligence & the thinking process; thinking, reasoning, learning & taking-action executed by the computer systems. In other words, it is an approach to perform the five human senses through information systems.
Data-driven artificial intelligence is well utilized on either cloud or local infrastructures. In everyday life, we run into the cognitive computing functionalities, more than ever, as natural language processing, voice & toning analysis, visual recognition, weather & location detection, bots and conversational commerce.
A recent Forrester research shows that;
– 45% of the online customers choose not to buy if they can not find quick anwsers to their questions.
– 50% of the potential sales are lost if customers can not find what they are looking for or can not get specialized services.
– 29% of online customers prefer to use the live customer service while shopping.
In fact, these outputs reveal some of the reasons behind the consumer visiting the nearest store in this age of digitalization; a direct and candid interaction with the store associate and getting personalized recommendations, prices & offers.
This brings us to the debate on the importance of monitoring the customer expectations momentarily in both worlds; online and digitalized physical stores.
In the past days, it was sufficient for the leading retailers to collect and make sense of the behavioral and demographic data to provide differentiated customer experience. Today, the retailers find themselves in a business where they have to instantly capture all the data about consumer’s questions and remarks, to interpret them from an emotional perspective and to take action accordingly.
Good news is that, there is a way to transform this pain into a business solution; enabling such a relation between the retailer and the consumer.
The volume of the retail data doubled in the past year and the years ahead are promising a steeper growth in shorther timeframes. This huge data mass will be processed by cognitive computing on cloud or local hybrid computer systems, to deliver solutions to – continously and sustainably – test the pulse of the consumer.