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A Quick Guide To Natural Language Processing (NLP) And Its Applications

 A Quick Guide To Natural Language Processing (NLP) And Its Applications

When you interact with Alexa, or, conduct a voice search on Google, do you wonder about the technology behind it? What is it that makes it possible to communicate with machines as you would with a human being?

Natural Language Processing (NLP) AKA computational linguistics is a subset of Artificial Intelligence, makes all of it possible by combining artificial intelligence, machine learning, and language to facilitate interaction between computers and humans.

So how does NLP work?

When you put a voice command, it gets recorded and then the audio gets converted into text, and the NLP system starts working on the context and the intention of the command. Basically, the words that we speak are labeled and get converted into a set of numbers. However, Human language is complex and has many nuances and underlying subtexts. The same word under a different context can have different connotations. So, when a simple command is put is gets easier for the machine to follow through as it contains simpler words and clear context, but, the system needs to evolve more to fully process the complex language patterns that evolved through ages. There are courses available such as natural language processing course in gurgaon that can help one acquire specialized knowledge in this field.

NLP and its applications

NLP despite being in a nascent stage is getting recognized for its potential and being applied for executing various tasks.

Sentiment Analysis to assess consumer behavior

  This functionality of NLP is an important part of social media analytics that parses the comments and reactions of users regarding products, brand messages spread over social media platforms to detect the mood of the person. This helps businesses gauge customers’ behavior and to make necessary modifications accordingly. 

Email filtering and weeding out spam

If you are a user of Gmail then you must have noticed the way your emails get segmented once they arrive. Primary, Social, and Promotions are the three broad categories followed by others, there is a segment for spams as well. This smart segmentation is a stark example of NLP at work.

Basically text classification technique is used here to assign a mail to a certain category that is pre-defined. You must have also noticed how well your spam is sorted, this is another result of the application of NLP where certain words trigger the spam alert and the mail gets sent straight to the spam folder. However, this sorting is yet to be perfected via further research.

Automatic summarization to find relevant information

Now thanks to digitization we have to deal with huge amounts of data which has led to information overload. This massive amount of data needs to be processed to find actionable information. Automatic Summarization makes it possible by processing a big document and presenting an accurate and short summary of it.

Chatbots

No discussion on NLP can ever be complete without mentioning the chatbots. The customer service segment is gaining huge benefits from these smart chatbots that can offer virtual assistance to the customers 24×7.  Chatbots can not only enhance customer experience but, are also great for reducing costs for any business. However, modern-day chatbots can handle simple, mundane queries that do not require any special knowledge and skill, in the future we could hope to see the bots handling specialized queries in real-time.

Spell and grammar checker

If you have ever used Grammarly and felt impressed with the result then you must have wondered at some point how does it do it? When you put in a text, it not only looks for punctuations but also points out spelling errors and also shows grammatical errors in places where there is no subject-verb agreement. In fact, you also get alternative suggestions to improve your writing. All of this is possible thanks to transformers used by NLP.

Machine Translation

If you are familiar with Google and its myriad apps then you must be familiar with Google Translate. How quickly it translates your sentences in a preferred language format, machine translation is one application of NLP that is transforming the world. We always talk about big data but making it accessible to people scattered across the globe divided by language barriers could be a big problem. So, the NLP enabled us with machine translation that uses the power of smart algorithms to translate without the need of any human supervision or intervention. However, there is still huge room for improvement as languages are full of nuanced meanings that only a human is capable of understanding.

 What are some examples of NLP at work?

We are not including Siri, or, Alexa  here as you are already familiar with them

  • SignAll is an excellent NLP powered tool that is used for converting sign language into text.
  • Nina is a virtual assistant that deals with banking queries of customers.
  • Translation gets easier with another tool called Lilt that can integrate with other platforms as well.
  • HubSpot integrated the autocorrect feature into its site search function to make searching hassle-free for users.
  • MarketMuse helps writers create content that is high-quality and most importantly relevant.

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Just like AI and its various subsets, NLP is also a field that is still evolving and has a long journey ahead. Language processing is a function that needs more research because simulating human interaction is one thing and processing languages that are so nuanced is not a cakewalk. However, there are plenty of good career opportunities available and undergoing an artificial intelligence course in delhi would be a sound career move.

 


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How Can AI Help In Streamlining Small Business Operations?

How Can AI Help In Streamlining Small Business Operations?

Running a business is a challenging job, especially when business operations take place on a small-scale platform. Small business owners need constant motivation and brainstorming to keep their business in a profitable position.

However, as the world is busy deriving benefits from AI technology, and professionals opting for artificial intelligence course in delhi for better career prospects, small business owners too should seize this opportunity to power up their businesses. 

Why the small business owners are shying away from AI?

With biggies like Google, Amazon,  Apple, Microsoft empowering themselves with AI tools, small businesses are somewhat showing reluctance towards the new technology. Only a small percentage of businesses ranging from small to medium have so far been influenced by it. A 2018 survey showed the number to be around 13.6%.

This indicates there is some inhibition in the small business community, but, it might not just be that, when questioned most small business owners often cite reasons like lack of expertise, financial concern to be the causes.

They are mostly under the misconception that such advanced technology is best suited for giant platforms and their small scale businesses are not going to rake in any profit, even if they invest. They don’t even have tons of data like most businesses, to begin with. So, AI being a data-driven technology, might not work for them.

Their perception is gradually changing because of the way AI has started seeping through the very fiber of civilization and impacting so many aspects of life. It is not possible for small businesses to indulge in AI research or, develop a platform specifically for their business needs for feasible reasons but, they can get ideas regarding how best to conduct business the AI way.

Let’s find out how AI can be incorporated into small business infrastructure to improve five core areas.

Smarter sales and marketing with AI-powered CRMs

A CRM is an indispensable tool for any business, let alone a small one. Basically, a CRM works to garner customer data from various platforms to enable the sales and marketing team to keep track of their valuable customers while pursuing new leads.

The fusion of AI and CRM could do wonders as it is evident from the way Einstein AI, introduced by SalesForce is working. 

You stand to gain insight into the customer mindset as this fusion will work to analyze customer mindset by analyzing the conversations that happened across different channels. This insight can help shape your sales and marketing efforts accordingly especially if you can upskill your team with customer market analysis courses.

Keep an eye on your rivals

Staying one step ahead of your biggest competition in the market is a crucial need no business owner big or small can afford to ignore. However, it is not easy to monitor every move they make, but, AI can be your biggest ally in helping you track your rival’s every digital move.

AI-powered Crayon, is a smart tool that monitors what your competition is doing on social media, across websites and applications, you can gauge their performance and activities and keep a tab on their marketing strategies, pricing, and other such issues to make suitable modifications to your own.

Automate customer service

 Handling your customers is an important but, tedious task and as your business starts to grow so does your customer base and their queries. Investing in a big support team might not always be a feasible option for you, so why don’t you take advantage of chatbots to automate the whole process and make it more efficient?

Not all queries are important, some of these are generic which the chatbots can handle while your sales team can focus on more personalized or, technical queries to keep your customers happy. Answering support tickets can be easy with a tool like Digital Genius. It is a great option even for those businesses which can’t afford a support team.

Smoother HR operations

No matter how small scale your business might be, you still have to manage your employees and hire new ones, which means having an HR team ready round the clock. Now you can manage this segment bypassing all hassles thanks to AI-powered platforms that automate your HR functions, be it screening applications, scheduling interviews or, onboarding the new employees, every segment will be well taken care of. Not just that but, the administrative jobs that the HR have to do repetitively could be automated too.

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Customize your customer journey

Customers like to be pampered, when they shop from big brand names they hardly get to experience that personalized approach. The trendy products aimed at mass-market leave them wishing for something that would suit their style. Retail Analytics Courses can help you develop a better understanding of the whole issue.

 Being a small business owner you already have the advantage to take care of this issue and you can be near perfect in your approach if you get support from smart AI algorithms that can browse through customer data and detect patterns to help you understand the personal preferences of customers and thereby allow you to modify your products accordingly to suit their needs.

Coupled with AI power you could also improve your logistics to ensure your supply chain does not experience any glitch.

The development of AI platforms programmed to perform specialized tasks need to be recognized by the small business community, only then they would find the motivation to channelize the power in the right direction. They can also consider upskilling themselves with deep learning for computer vision course, to be able to harness the power of AI.

 


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Branding Can Get Smarter With Data Science

Branding Can Get Smarter With Data Science

In the competitive world of business, branding plays a pivotal role in making sure that your company can rise above the noise and be noticed. The concept of branding thrives on the dual power of brand recognition and brand recall meaning the customer’s ability to identify your brand among a host of other similar products.

 Creating brand awareness is a crucial task for any business done through carefully measured and planned strategies. Familiarizing the audience with a specific brand takes time and apt utilization of all available communication platforms.

What role data science can play in devising branding strategy?

The emergence of online shopping, as well as the proliferation of communication channels, are making the job complicated for marketers, along with the explosion of information sources causing an exponential increase in data generation. The large data if assessed correctly can reveal useful information regarding customers and allow them to make data-driven branding strategies. Data Science training is required for enabling the professionals to help companies assess valuable data.

Handling this vast data can baffle any seasoned marketing team, but, with the application of data science tools and techniques manipulating and extracting valuable information becomes easier. Not just that, but, the marketing team now has the power to peek into customer preferences to angle their branding strategy the right away to make their imprint on the customer’s mind.

So, here is how branding is getting smarter

Personalized messages

 Data science allows the marketers to assess the customer data spread across various channels including social media platforms. When analyzed this data points the marketers towards the customers’ buying habits, preferences, and they can develop a message for individual customers keeping these preferences in mind.  Marketing personnel having undergone customer market analysis courses would be able to guide their team better.

When a brand approaches a specific customer with recommendations specifically tailored to their preferences they tend to return to that brand. Furthermore, it also helps them to find reasons why the customers change buying decision midcourse and leave a site, or, product page. Data analysis will assess that behavior and offer insight.

 Another factor to consider here is that the marketing team can also find the errors in their previous marketing campaigns contained in past data through the right analysis.

Shaper social media strategy

Accessing social media platforms to target customers is a strategy all marketers resort to, after all, a huge chunk of their target audience spends a significant amount of time here. However, creating content and aiming it randomly at all platforms or, some platforms based on guesswork can go for a toss.

Data collected regarding social media usage patterns of customers can point the strategists towards the platforms to invest in. A certain section of their targeted customers might spend time on Twitter, while another segment might veer towards Instagram. So, identifying those platforms for specific segments and delivering content accordingly needs data-backed insight. Assessing data patterns can help marketers position their brands on the right platform.

 Delivering the right content

Brands reach out to the target audience via different types of content that they promote across various channels to gain customer attention and push their brand identity. However, their strategy is often very loosely based on an assumption that might go wrong. Engaging the customer gets a lot easier if the team puts the data-driven insight into their content marketing plan.

Data regarding customer age, gender, personal interests, the time they spend over different types of content and what they retweet, or, share on their timeline matters. The team can gain a perspective analyzing the search data of customers to understand what they are looking for and what kind of content resonates with which demographic.  Data analysis can solve this entire puzzle and enable the team to devise a content marketing strategy accordingly.

When the customers find that a specific brand has the answers to their queries and offers meaningful information they will naturally gravitate towards it.

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Assess brand performance

Application of data science tools can not only lead towards measuring customer behavior but also allow the company to assess its performance. Data could reveal valuable information regarding the bounce rate, the social media image of the brand, customer reviews all of that to point out the problem areas that need immediate attention.

The insight gained from the data could help the team to collaborate with other teams to work on the problem areas and make changes. This does send out a positive message regarding the brand which continuously works to improve itself.

Understanding the value of data is vital for any brand wishing to win customers’ hearts. Applying data science tools to process this data requires skill. Companies should invest in building a team comprising data scientists, analysts to get the job done. They can also train their personnel by sending them to Data analyst training institute.

 


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Studies Show Indian Employers Prefer Experienced Workers Over Freshers

Studies Show Indian Employers Prefer Experienced Workers Over Freshers

Employability and the scramble for top Jobs in India 

Looking to hire new talent or searching for a job? Well, some insights several studies and surveys provide about the job scenario in India might interest you.

The Millenial

Indian millennials, aged between 18 and 35 years, according to studies ( wheebox.com/assets/pdf/ISR_Report_2020.pdf ) makes nearly half the Indian workforce and looks likely to remain so for the next decade. This generation of workers are not only working hands but likely consumers as well, strong in their opinions, with access to the internet and social media across urban and rural areas. What they are most ardently looking for are jobs that respect their talent, pay them adequately and improve their employability in the market. 

Employability in India

Employability has remained stagnant for several years now with around 46 per cent candidates job-ready. Of those employed, trends revealed

  • MBA’s in India are now projecting a rate of 54 per cent employability, acquiring the highest paying jobs
  • Employers prefer candidates with work experience, especially 1-5 years. Freshers are least preferred at 15 per cent.
  • The AI industry is showing promise wherein some reports pegged the number of job openings in AI and Machine learning sector at almost 1million in India last year. 
  • Employability for pass-outs of B.Pharma, B.com, BA and Polytechnics showed an increase of around 15% since 2019.
  • Prospective workers from Maharashtra, Tamil Nadu and Uttar Pradesh were found to be most employable
  • While women are as employable as men, women’s participation in the workforce remains at a low 25 per cent vis a vis that of men.

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What employers seek

  • Domain knowledge
  • Adaptability to the work environment
  • Learning ability and agility
  • Positive attitude

What employees seek

  • Majority of Students, around 88 per cent of those surveyed, sought internship opportunities though the supply did not meet demand in most cases
  • Maharashtra, Tamil Nadu and Andhra Pradesh were preferred and most sought after in terms of work opportunity
  • Over 55% students expect the annual salary to be above Rs. 2.6 lacs, a figure which has remained constant for the past few years

Ways to improve employability

Most students or potential candidates, surveys show, seek proper guidance and training and internship opportunities as varied as customer market analysis courses to customer marketing analysis training and courses teaching retail analytics using Python. While most universities lack the wherewithal to skill their outgoing students, students prefer to sign up for short courses online to equip themselves with the requisite knowledge specific to their industry. All this done with a view to increase their employability in a market deeply customer driven.

 

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How to Effectively Pursue your Dream Career in Market Analysis? A Go To Guide!

How to Effectively Pursue your Dream Career in Market Analysis? A Go To Guide!

Being a Market Analyst in these days is synonymous to sealing the deal, where you don’t have to worry about your salary and many other perks which varies from company to company. But, it’s not an easy-peasy way to success in here.

A Market Analyst is heaped with a huge amount of responsibilities day in and day out, involving a colossal amount of data and analysing them to perfection. With the help of these data, they have to come up with innovative ideas to boost the business of the company.

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Some of the other responsibilities include:

  • Exploring and analysing the tactics of the competitors, market conditions and the consumer demographics flawlessly.
  • Studying the customer opinions, buying habits, customers’ wants and needs.
  • Converting the collection of data into interactive presentations, tables and texts to bring them to the effective use for the benefit of the company.
  • Coming up with improved approach to collect data, comprising of surveys, interviews, questionnaires and more.

These are a few of the highlights of the jobs assigned to a Market Analyst. You can catch some more of them at A Market Analyst and His Job: An Overview!

Want to Become a Market Analyst? Here’s What You Should Go For!

Now, if you are a newbie and interested to pursue a career in Market Analysis, you shall always opt for the best customer marketing analysis training in the country, besides having:

  1. A Degree in Statistics, Computer Science, Economics or Business Administration – When it comes to Market Analysis, all they want is to interview the candidates with a Bachelor’s Degree in maths, statistics, computer science, business administration or economics. Some of the companies also shortlist the candidates from the field of communications. Furthermore, specialist degrees in marketing research and consumer psychology prove exceptional.
  2. Manoeuvre your Technical and Business Skills towards Analytic ThinkingAnalytic thinking is the thing that would take you for miles on end, regardless of your skill set. Besides, the skills which you should be needing are:

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Technical Skills:

  • Proficient with Statistical Analysis software, like, R, SAS and SPSS.
  • Well-versed in SQL databases and database querying languages.
  • Good programming skills.
  • Known to business intelligence and reporting software.
  • Customer Market Analysis courses.

At the end, we will provide you some business skills that you can develop to pursue your dreams smoothly:

  • Analytic problem solving skills.
  • Developing a habit of critical thinking.
  • Effective communication skills.
  • An impressive knowledge of the industry.

Grab an insight of this article in order to get a grasp of the stream of Market Analysis and how to become a Market Analyst! For more such informative blogs related to computer science and the evolving technologies of Python, Data Science, Big Data and AI, visit Dexlab Analytics. You can also follow us on Facebook and LinkedIn for any updates and queries about our courses and the teaching staffs.

 

Interested in a career in Data Analyst?

To learn more about Data Analyst with Advanced excel course – Enrol Now.
To learn more about Data Analyst with R Course – Enrol Now.
To learn more about Big Data Course – Enrol Now.

To learn more about Machine Learning Using Python and Spark – Enrol Now.
To learn more about Data Analyst with SAS Course – Enrol Now.
To learn more about Data Analyst with Apache Spark Course – Enrol Now.
To learn more about Data Analyst with Market Risk Analytics and Modelling Course – Enrol Now.

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