4 Business Applications of Natural Language Processing

The future of tomorrow belongs to NLP. The business market has grown to such an extent where it now needs to analyze and understand customer behavior, preferences, as well as their mood. Had it not been for natural language processing businesses owners were likely to remain incompetent in handling and extracting valuable insights from texts.

Due to the rise of machine learning and artificial intelligence, the advent of NLP came into existence. Gartner claims conversational analytics as to the newly born paradigm. There is no denying fact stating that data-driven is going to be the new mantra in the business domain. The NLP is also said to be recognized to be the enabler of text analysis as well as speech recognition applications. NLP experts will be in demand in the coming future. For professionals looking to enter the domain, it is a seller market.

Natural Language Processing is experiencing a whole new level of transformation in the field of business and service providers. Let us check out these top applications of NLP technology you should consider for your business today.

Chatbots

Perhaps chatbots are the most common application we’ve frequently come across. Chatbots are solutions for customers‘ frustration over providing services. Day-to-day assistance service for simple service issues can easily be made with the help of chatbots. In the coming future, intelligent chatbots will be seen offering personalized assistance to customers.

Used by multiple industries, it is predicted to be an emerging trend offering real-time solutions for customer problems. Undoubtedly, the extent to while chatbots are gaining trust and popularity is unquestionable. Customer service solution offered by chatbots saves time, they are cost-efficient, reduces human effort, and provide efficiency.

Customer service

Keeping customers satisfied is a mantra for almost all businesses. It gets challenging to fulfill every customer demand and keep them happy. NLP offers several functions of customer service and can be served as an excellent tool to gain insights from a different audience, their perception, and their taste.

For instance, speech separation is one area where AI identifies each voice to the corresponding speaker and respond separately. If you’re not aware, excellent text to speech system could even help the blind. Another example, when a call is recorded, the AI system can easily analyze whether the customer is happy or sad. Their future needs and requirements.

Besides these, the NLP can easily translate the caller’s speech into a text message that can easily be analyzed by the engineer. In short, it is one of the best ways to know your kind of audience.

Sentiment analysis

Sentiment analysis is widely used in social media monitoring and on the web. Through this, you can analyze the responses of the business messages you get from social media platforms. It helps analyze the sentiment and emotional state of the person who has written the content. This application is also called opinion mining where Natural Language Processing along with statistics is being implemented. This is made by assigning values to these texts. In return, this helps in identifying the mood of the context whether it is sad, happy, angry or annoyed.

Semantic search

Consumption of information has changed drastically in the past two decades. Turning to libraries, phone books, newspapers, and dictionaries were the old norms. In today’s date, we can easily find answers from the web. Getting to answer complex answers could take days together but now it barely takes seconds. However, the accuracy of such answers depends on how smart the search has taken place. The major reason why search engines have been powered by natural language processing technology. It provides the information requested by the user rather than making the person run through the previous keyword result.

Semantic search engines can be found in browsers, corporate programs like CRMs, mobile applications, and smartphones, etc.

Through this, you can analyze the responses of the business messages you get from social media platforms. Or you can hire someone on your Instagram advertising agencies list who can do it for you. under “Sentiment Analysis”