Why AI, IoT, and Business Intelligence is Not Just for Big Business

Digital transformation is necessary for survival in today’s business world. But what does this mean for your small or midsize organization’s culture, processes, and operations?

We’re here to show you that cutting-edge technological tools are not just for big business but every business- including yours.

In this article, we’ll give insights into how larger companies are using cloud-based technologies such as:

• AI (Artificial Intelligence)
• IoT (Internet of Things)
• And other next-gen business intelligence with the goal of helping you keep your organization competitive, no matter what size it is.

Stay Engaged Through Artificial Intelligence

Every modern organization is collecting data from its daily transactions, interactions, and processes.

To provide even deeper insights, powerful artificial intelligence (AI) engines help you understand and engage with your customers better by interpreting data in context.

Accelerate the sales process

• Your CRM software contains a record of how every lead has progressed through the sales process. Using AI, this software can predict the outcomes of new leads based on a multitude of factors and help sales reps focus their efforts on the leads that are most likely to close.

Keep salespeople focused

• Using AI, your system can collect information about leads in-process and build an actionable plan for your sales team.
• By collecting data from historical records as well as outside sources, like LinkedIn, your CRM system can gather background automatically and recommend which steps should be taken next- keeping salespeople focused on what’s most important.

Empower service agents

• AI allows service agents to manage cases faster and provide more personalized service by providing:
  • Relevant information
  • Resources
  • Complete customer context

• With AI, your CRM system can proactively deliver history, product information, and recommendations to your service agents so that they can resolve common issues quickly and provide service experiences your customers will rave about.

Be Proactive with IoT

The IoT (Internet of Things) is the network of machines, devices, and equipment embedded with sensors to collect and transmit data on activity and performance.

Using various software applications, organizations use IoT data to:

• Diagnose
• Schedule
• Maintain and manage assets

Maintain equipment

• Through IoT, you can monitor machines and equipment to take a proactive approach to maintenance and troubleshooting. Using IoT sensor data, your ERP system can use predictive service models to schedule maintenance based on usage or time.

Fix problems proactively

• Sensor data tracked in ERP can send alerts when there is a potential problem in equipment, allowing you to reduce machine downtime with early intervention.
• If service people must go on-site to fix equipment, IoT can provide information on which parts and tools the technician will need to resolve the issue.

Control remote environments

• Companies such as property owners, manufacturers, and distributors in remote locations can use IoT to maintain consistency such as:
  • Light
  • Temperature
  • Other environmental factors

• From ensuring areas are properly lighted for safety to keeping machinery at an optimum temperature, IoT data can be monitored through ERP systems that send alerts when there is a problem.

Make Real Changes with Business Intelligence

Organizations, both small and large, across the globe are using other next-gen tech to revolutionize the way they perform business by using things such as:

• Data Analytics
• Intelligent Operations
• Automated Workflows
• Virtual Reality
• AI-Powered Information

Notice some inspiring real-life experiences of how companies are making major changes using these means of business intelligence.

1. Create Understanding Through Data Analytics

Forecasting for-profits- A coffee store chain links drive-thru sales forecasts with upcoming weather forecasts to adjust inventory and staffing. On rainy days drive-thru volume will be much higher because people don’t want to leave their car.

2. Modernize with Intelligent Operations

Connected supply chain- A consumer-goods distributor builds forecasts from sales pipelines, using machine learning algorithms to adjust for past closing history. Forecasts are automatically shared with trusted vendors to adjust production and match inventory purchases

3. Automate Through Workflows

Accelerated cash flow- The technicians for an HVAC service company use tablets to collect customer signatures when they complete a job. The completed work order is submitted before they leave the premises, triggering a billing workflow that automatically computes time and materials, then sends out the customer invoice and follows up with a satisfaction survey.

4. Experience with Virtual Reality

Remote support- A medical equipment manufacturer ships a Microsoft HoloLens with every machine to enable faster training. Working remotely, the manufacturer’s technicians can train their customer’s operators and provide ongoing support “as if they were there.”

5. Empower Employees with Information

Simplified timesheets- A software development company simplifies employee time entry with AI-assisted timesheets. Time entries are pre-populated with project codes based on activities gathered from the calendar, emails, and other apps to improve accuracy and reduce manual entry. Employees can easily adjust and submit entries.

We’re Bringing Next-Gen Tech to You

There is so much potential in using AI (Artificial Intelligence), IoT (Internet of Things), and other next-gen tech technologies to strengthen your business. And since most of the applications that support these technologies are delivered through the cloud, you can achieve results quickly without overwhelming investments.

This technology isn’t just for the big guys. Small and medium-sized businesses just like yours can reap the benefits of this digital transformation.

Take the first step by downloading the white paper Next-Gen Tech for the Rest of Us: Why AI, IoT, and Business Intelligence Is Not Just for Big Business.

By CRM Software Blog Writer, www.crmsoftwareblog.com