Introduction
Customer service is a critical aspect of any business. It is responsible for not only guiding customers but also dealing with their complaints, queries, and feedback. To ensure customer satisfaction, businesses increasingly use technology to automate customer support. One such technology is Natural Language Processing (NLP), which enables machines to understand human language and respond accordingly. In this blog, we take a factual comparison of the top NLP applications in customer service.
Comparison of NLP Applications in Customer Service
1. Chatbots
Chatbots are a popular application of NLP in customer service. According to a study by Juniper Research, chatbots will save businesses $8 billion annually by 2022. Chatbots can be integrated into a website or messaging platform to provide real-time support to customers. They are available 24/7 and can handle multiple customer queries simultaneously. This means that customers do not have to wait for a support agent to be available, resulting in faster response times.
2. Sentiment Analysis
Sentiment analysis uses NLP to understand the tone and intent of customer messages. It can help businesses improve customer relations by detecting negative feedback and taking corrective action. For example, a hotel chain could use sentiment analysis to detect negative comments about their service and take steps to address the issue. According to a study by MarketsandMarkets, the sentiment analysis market is expected to grow to $6.7 billion by 2022.
3. Voice Assistants
Voice assistants such as Siri, Alexa, and Google Assistant use NLP to understand spoken commands and respond accordingly. They can be integrated into applications and websites and have the potential to redefine the way we interact with technology. Voice assistants can be used in customer service to automate certain tasks, such as booking a flight or making a hotel reservation. According to a report by Zion Market Research, the global voice assistant market is expected to reach $7.6 billion by 2021.
Conclusion
NLP is revolutionizing the customer service industry, from chatbots to sentiment analysis to voice assistants. These applications have the potential to save businesses time and money while improving customer satisfaction. By using NLP, companies can provide round-the-clock support to customers, analyze customer feedback, and automate routine tasks. Businesses that invest in NLP technology are likely to stay ahead of the competition.
References
- Chatbots to Deliver $8 Billion Annually in Cost Savings by 2022 Juniper Research
- Sentiment Analysis Market Forecast MarketsandMarkets
- Voice Assistant Market is Expected to Reach USD 7.6 Billion by 2021 Zion Market Research