As the technology progresses, Natural Language Processing (NLP) and search-driven analytics are some of the advanced technologies organizations use to connect their business minds with the right data.
Integrating NLP in business intelligence enables businesses to deliver better results and enhance the business bottom line.
Natural Language Processing
Natural Language Processing (NLP) comes under a branch of artificial intelligence that enables computers to understand and process human language. It is about enabling computers to communicate with humans naturally as they do with each other.
The technology enables computers to understand words, phrases, sentences, and proceeds to work together to allow computers to interpret and comprehend the context.
How Is NLP Impacting Business Intelligence?
Business intelligence (BI) refers to the tools and techniques used to examine business data and make strategic decisions. It contributes to a better comprehension of the global market and provides information about your firm’s operations.
Today’s enterprises must make decisions based on data insights rather than merely focusing on their gut or intuitive feelings.
NLP Chatbots In BI
With technology as the backbone, organizations are ready to adopt business intelligence chatbots that can understand and process natural language and carry out complex tasks in the present scenario.
With the help of BI chatbots, data consumption among business users has grown and also become much easier. These intelligent chatbots can efficiently extract data from multiple sources and can also be integrated with third-party messaging applications.
Harness Unstructured Data
Harnessing of unstructured data is one of the significant applications of NLP in BI. As a result of data explosion from various digital sources, IoT-enabled devices, social media, etc., the rate of unstructured data is increasing at an alarming rate.
NLP enables to do an effective analysis of the data to unlock the real value of unstructured data.
Natural Language Analytics
NLP in BI helps convert analytical findings into understandable language, increasing data accessibility for a larger audience. Users from a range of organizational business activities, including marketing, sales, and finance, may now quickly get the necessary data from the BI system without the assistance of highly technical data experts due to NLP.
Natural Language Generator(NLG) is another way to make data more accessible to a wider audience. This translates visual analytical output into narrative or descriptive text that helps individuals with special needs also to process data easily.
NLP Based Search
Any BI solution should have search as a key feature. By interpreting the purpose behind users’ queries and displaying the most relevant results, NLP improves BI search. Users can have a Google-like and consumerized BI experience using NLP. NLP-based search advances the conversation following a query and saves users from rephrasing their questions.
With the integration of NLP in BI, data can be ideally made accessible to everyone. Users can no more be finding difficulty with layered interfaces and complex BI software.