Natural Language Processing is changing business intelligence platforms: What are the benefits?

Even though there have been numerous developments in technology during the past few years, one of the biggest developments is the growth of natural language processing.

Natural language processing is a branch of AI that enables computers to understand, process, and generate language just as people do and its use in business is rapidly growing. We have been using this technology in our daily life without even knowing. Examples of NLP that we are familiar with but didn’t know it’s NLP were translators, speech recognition apps, and chatbots are actually NLP-powered products.

An overview of Natural Language Processing (NLP)

NLP uses Machine Language (ML) which is a learning system that stores words, analyze phrases and how the words comes together just like any other form of data. ML engines processes grammatical rules, people’s real-life linguistic habits, or both which is being used by the computer to find patterns and estimate what comes next.

NLP benefit: Improve data analysis capabilities

With the continuous growth of NLP technology, processing a lot of data in a flash is possible, get more objective and accurate analysis, and perform a large scale analysis which is an improvement to the data analysis capabilities. This is also being used by companies for their recruiting process in order to reduce the human error which helps the company to find the right people.

NLP streamlines daily business operations

Using NLP to find specific clauses that is located in various documents such us, contracts which uses similar language all the time. Which is why a lot of professional firms whom needs to review a bunch of contractual information and technical documents uses NLP to quicken the work and lessen the error

Improve the experience of the customer with Natural Language Processing

To improve the way of communicating and improving the customers experience when answering questions, NLP programs which identifies the element and suggest certain emotions or sentiments are being used by businesses. Which helps businesses to lessen the cost of hiring customer representatives to answer simple questions that can be answered by chatbots which uses NLP and responds to customers faster.

NLP empowers employees

By removing repetitive tasks that don’t require any brainpower by using automation technology could empower the employees. Such task can be handled by NLP programs which could help the employees to focus more on important task.

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