Tag: Artificial Intelligence

A RoundUp of Salesforce Research on impacts of 2020
COVID-19, Salesforce

A RoundUp of Salesforce Research on impacts of 2020

As this year is going to end, we would like to give you an insight into the data Salesforce Research reported. This year brought us many twists and turns, changing the way we live and work.

This year has quite impacted the relationship between the business and its customers. 

Salesforce Research, a team, committed to investigate and report the latest trends’ effects on customer and business relations, surveyed nearly 80,000 consumers, decision-makers, and business buyers across the globe to apprehend how the pandemic is restructuring customer behavior and how businesses are acknowledging it.

Here are the important data points collected from different surveys that enfold the impacts of 2020 on digital transformation, customer association, and much more.

Digital-first customer engagement: The shift was well underway before the outbreak of COVID-19, but the pandemic has accelerated this essential spin as people worldwide spent an ephemeral amount of time in stores and more in front of the screens

This summer, consumers and service buyers from around the globe    participated in an annual survey, and it was inferred 

60% of total customer interactions are now digital, with no anticipated dip in 2021 too.

Digital sales revenue: Through different surveys on global shoppers, it was found that 68% of consumers are likely to shop online, even after COVID-19.

Work from home: As the pandemic hit our lives, the work from home option went through a digital upheaval. Around 62% of full-time workers worked from home, two-third of which wanted to continue work like this in the long run.

Digitization: 60% of consumers surveyed in August said that COVID-19 had converted their relationship with technology. Moreover, 88% of consumers expect this years’ crisis to accelerate digital initiatives. 

Artificial intelligence: The share of marketers who reported that their organization utilizes AI has risen to 186%, tripling within 2 yrs. This shows that marketers are increasingly inclining towards digital transformation.

A transformative moment for Sales Representatives: Sales representatives face a particularly reframe moment as they move towards selling virtually for the predictable future. One research found that 54% of sales representatives now felt confident in working in a digital environment.

Video-based support customer support: This year, video experienced a boom among customer service channel. Digital service channels like online chat, messenger apps saw a significant rise of up to 42%

Customer data: To upraise customer service level, businesses need to use customer data in a sophisticated manner. Customers have been circumspect about this dynamic for a long time, but as examples of unethical behavior by companies over customer data come about, 61% of consumers have lost on companies over the use of their data.

All of these stats show there is still much work left for businesses to provide efficient customer service. These stats clearly say what consumers want from companies, why automation is needed, and the overall power of digitization.

How a Data Lake Solution can be a game changer for your business
Data Lake, Salesforce

How a Data Lake Solution can be a game-changer for your business?

“There was a Time When it was Impossible to Store Data Without Analyzing. But now, with the advent of Cloud Computing, You Can Load Data Without Analyzing It First. That’s How Data Lake Works and Built on the Philosophy- Load First, Think Later,” unlike Data Warehouse- Think First, Load Later.” 

More than 90% of all business data are in unstructured formats. 

Businesses today need unstructured data as they don’t want only to analyze their operational data. 

At one time, it was impossible to store and analyze such data. 

But now it is with the advent of Cloud Computing that allows loading unstructured data with predefined business requirements easily. 

What Really is Data Lake? Why Does it Even Matter?

Data Warehouse THINK FIRST, LOAD LATER

At first, there were Databases, then came Data Warehouse, and now we have Data Lake. Data Lake is an emerging technology that has redefined Data extraction, storage, and analysis.

Let us first understand what is Data Warehousing. Data Warehouse is a centralized location where all the data of an enterprise company is stored. But before you store the data, you need to define the business need.

But why do we want to store data in a Data Warehouse?

Suppose we take Walmart, which is the largest retail outlet in the US. 

They have these business requirements-

Which products were sold the most in the last 6 months?

Who were the customers that bought these products?

Where are these customers located?

Different kinds of data, like a customer, product, and sales, are stored in different source systems. 

Similarly, when you visit a retail store or a shopping mall and reach the Point of Sales (POS). POS is a place where you make the purchase, and it’s the time and place where a retail transaction is completed. 

At this point, your data enters into the systems and gets stored in various transactional systems. If you want to merge and analyze this data from a central location, you first extract this data. 

So, the data you need for analysis can reside in any of these systems. It can be in Sales, HR, or inventory source systems. 

Once the data is loaded into Data Warehouse, business analytics and reporting happen on top of this data, later passed on to ETL (Extraction, Transform, Load).

From ETL, you collect the data based on your requirements and finally get stored in the Data Warehouse. Once data is loaded into Data Warehouse, then business analysis and reporting happen on top of this data. Hence Data Warehouse works on the philosophy of THINK FIRST, LOAD LATER. 

This means you first need to know what data you need, and based on your requirements; you fetch the data. 

Data Lake- LOAD FIRST, THINK LATER

Today, when you talk about Business Intelligence or Analysis, you’re mainly talking about a Data Warehouse (mostly supports structured data). Now with a fast-growing technological advancement, data volumes are increasing exponentially. 

Today every small system, sensor, or machine generates insightful data. But this is not structured data. This data includes unstructured data, sensor data logs, online repositories, web servers, databases, APIs, and a lot more. 

Businesses today require unstructured data as they don’t want to analyze only its operational data. At one time, it was impossible to store without analyzing such data. But now, with the help of Data Lake, loading unstructured data has become a lot easier. 

Built on the philosophy of- LOAD FIRST, THINK LATER, you can now load whatever data you have and later analyze how you can use this data. Data Lake accepts all kinds of data structured & unstructured logs, images, everything. It stores everything in its raw state. 

Data Lake acts as a central reservoir that stores without any pre-analysis of data. Once data is in Data Lake, you can use it for multiple purposes. 

 How Data Lake Solutions can Impact Your Business?

  • Data Lake allows all employees to access data, not just managers or upper management. An employee has the option of using only those that are essential for his department. An enterprise has the ability to keep large amounts of data for a considerable price.
  • Companies can easily hoard their data since Data Lakes offers a huge variation in the types of data. 
  • Organizations can store their data in a native format and easily pull required data to any future system. 
  • Various departments in any enterprise can access quality data for real-time analytics.
  • Data Lake not just supports SQL but also multiple languages.
  • It can preserve raw data for data exploration and data science.
  • Data Lake handles data at a very high speed giving faster results.
  • Data Lake offers scalability at a very affordable price and can store huge amounts of data like multiple media, social data, chat, binary, and other data forms.

Verdict- Which is Better and What to Choose?

Both should co-exist as all your requirements cannot be fulfilled solely by Data Lake or Data Warehouse. So ideally, you should first build a Data Lake and then derive various Data Warehouses from it. Data Lake is a good platform for advanced data analytics. With technologies like Machine Learning and AI, you can process any data, which is why Data Scientists come into the picture now. Data Lake and Data Warehouse are different but work together fulfilling your business requirement. To know more, connect with us to scale up your business. 

fourth-industrial-revolution
AI, Dreamforce

Fourth Industrial Revolution – Few Points to Pick at the Forum

It’s quite amazing to acknowledge how ‘Fourth Industrial Revolution’ is indeed shaping up the world around us and at the same time creating a huge impact. Today let us discuss how to harness the power of this revolution and its impact over everyone.

Are you interested in a specific new technology, for instance AI (Artificial Intelligence)?
Then this year’s biggest cloud event can be one of the hub for you. To acknowledge the actual role of business in this rapidly changing world and to understand how can we work collectively to ensure that technology is a force for good.

This year at the biggest cloud event, is hosting an event of partnering with World Economic Forum, the International Organization for Public-Private Cooperation, to explore all the key challenges of achieving highest ROI, drive the positive changes, and also improve the state of the business affairs. In this promise the relationship between individual and institutions is as well explored, along with the opportunity to explore AI in a way that promotes business functionality.

The event is everything about how to change the concept of business in society and as well as how the leaders can respond to the rapidly changing market trends. The forum will also grab some of the best ideas from the well-known speakers. The forum will also examine the results of the World Economic Forum’s forthcoming Global Gender Gap Report – that simply measures the parity between men and women, along with considering all the actionable insights from various leaders to close the gender gap.

Hence, it can be concluded that this entire event is all the recent market trends and have the best of collection for the business data. In fact, is the sole platform where you will get a detailed conversation over technology as a force for social good. So, go ahead, pack your bags and get ready for the biggest cloud event of 2017, and all its discover all its branches. It’s time for some revolution in the industry.

Image Recognition – Salesforce AI Track Images on Social Media
AI, Einstein, Salesforce

Image Recognition – Salesforce AI Track Images on Social Media

The world of digitalization has made progress in various ways. Brands from quite long time could search for company mentions on social media, but they have lacked the ability to search for pictures of their logos or even products for that case in an easy way. This is where Salesforce’s latest Einstein artificial intelligence feature comes in action.

Today most of the company introduced their Einstein Vision for Social Studio, which ultimately provides a way for marketers to search for the pictures related to their brands, over the social media platform. In the similar manner, they search for various other mentions. The product is said to take advantage of a couple of Einstein artificial intelligence algorithms, including the Einstein Image Classification for image recognition process. It uses brand detection, product identification and visual search. It as well makes use of Einstein Object Detection to recognize the objects within images including the type and quantity of the desired object.

AI has grown quite good at perception and even cognition tasks in the recent past. One result of this has been the capability to train an algorithm so that it can identify a picture. With compute power widely available and lots of pictures being uploaded online, it definitely provides a perfect technology combination for even better image recognition.

Rob Begg, Vice President of product marketing for social and advertising products at Salesforce, says it is all about letting the machine loose on tasks for which the purpose is better suited. “If you think of it from a company’s point of view, there is huge volume of tweets and posts. What AI does best is help surface and source the ones that are relevant,” for an instance, he also says there could be some thousands of posts about cars, but only a handful of those would be relevant to your campaign. AI can assist you find those in an easier manner.

Begg has seen three possible use cases for this tool:

  • First, it could somewhat provide better insight into how people are using the products.
  • Secondly, it could also provide a way to track brand displays online hidden within the pictures.
  • Finally, it could let you find out when the influencers such as actors or athletes are practically using the products.

The product comes trained to identify two million logos, some 60 scenes, and more than 200 foods and 1000 objects. Customizing is not available in the first release, so if there is no logo or object included out of the box, you will have to wait for a later version to be able to customize the content.

It has been clearly stated that, it should be easy for marketers to use Social Studio to figure out the process of incorporating the visual recognition tools into their repertoire. The new functionality should be accessible instantly to Salesforce Social Studio users.