All businesses are beholden to laws of supply and demand. Your business must provide customers with something they want or need in order to survive and prosper.
To do so, you need to know what your customers want.
This is both more difficult than you would think and also a question of degree – you can know your customers’ basic urges and desires or you can know every facet of their personality in the greatest detail.
The success of digital behemoths Google and Facebook can largely be attributed to their ability to collect user data and turn it into information that benefits businesses by improving their understanding of customers and better influencing their behaviour.
Chatbots, using advanced AI technologies such as Natural Language Processing (NLP) and Sentiment Analysis, are a remarkably powerful means of collecting user data and analysing their behaviour. This information can then be used to refine your services and products, ensuring that you offer your customers exactly what they want.