Computers have evolved over the years in many ways, and technological advancement has led to better comprehension & understanding of data, including human language. Natural Language Processing (NLP) is the technology that enables computers to comprehend human interactions in various languages and turn them into something useful that computers can comprehend i.e., it enables computers to decode human language. NLP uses Artificial Intelligence (AI) through which human to computer interaction via voice is made possible.
With NLP in action, businesses can significantly enhance their customers’ experiences. The speech recognition tools and search via voice powered by NLP are few of the many applications used extensively by businesses to understand and deliver better on customer expectations. Here are the 4 applications of NLP in business;
- Sentiment analysis
To estimate the preferences of customers in any service or product-driven business, sentiment analysis can be a great key enabler for study and research. In simple terms, sentiment analysis is the ability to understand how your customers perceive your brand and their expectations from the brand. NLP as technology helps businesses understand the larger context when consumers chose to respond with emojis, words, specifically, one-worded feedback like good, better, etc.
NLP and AI can collectively respond to customer feedback via automated responses just like a human support executive.
- Extracting data
Digitalization in businesses is taking its space, and organizations are often seeing handling terabytes of data and segregating the required data can be difficult. Extracting data involves the filtering of unstructured data and removal of specific data that can be used and edited as per requirement. Such a task can be time-consuming and might result in inaccuracy when done manually.
NLP algorithms are used to automate this process thus making it faster and retrieving accurate, structured data. NLP recognizes the texts, scrutinizes them, and then draws out specific data that helps companies take better, informed decisions.
With the help of this contemporary technology, the latest computer programs can decipher what humans want i.e., when humans converse with robots, the latter can completely comprehend the words and emotions behind what humans say.
- Voice recognition
“Hello XYZ, how may I help you?” NLP is used majorly as a part of voice recognition devices. Voice recognition enables harmonious interaction between customers and the website/device. Businesses have started using voice recognition to reduce human effortNot only does it do that, but it also increases customer satisfaction by cutting down on the time required to respond to customers’ queries. They are built to recognize and decipher languages and accordingly function and build up on their core data based on the information they receive from humans.
Voice recognition technology is now embedded in mobile devices such as SIRI and Google Assistant to allow users to take quick action and to also provide support to the physically challenged and empower them to use the device at ease. One can simply command a task by just saying “Hey” to the phone/laptop and it responds to your demands immediately.
- Email filters
Email filters are one of the earliest functions of NLP. Email filtering prevents unwanted aka spam emails from entering your inbox. All those emails you find in your spam folder are the emails that NLP didn’t allow to go through. The latest NLP email filters sort the emails amongst primary, social and promotions. This way, you can see all the important emails which have to be read and responded to immediately. In short, NLP contributes to creating a funnel for your emails.
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