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3 Strategies for Business Innovation with Artificial Intelligence and Sentmient Analysis

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We present three strategies for business innovation we achieved using artificial intelligence technologies and sentiment analysis. to this goal, we present the challenge to get insights of tons of unstructured customer feedback in form of text and how we approached it.

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3 Strategies for Business Innovation with Artificial Intelligence and Sentmient Analysis

  1. 1. 3 Strategies for Business Innovation with Sentiment Analysis (ML) Rahul Ramachandran, PMP®, MBA Amancio Bouza, PhD, ipt, Innovation Process Technology AG Cloud Days 2018, Luzern
  2. 2. 2 The Challenge..
  3. 3. There has been a paradigm shift across industries 19601900 1990 2010 The age of.. MANUFACTURING INDUSTRIAL REVOLUTION What triggered it.. The paradigm.. OWN PRODUCTION, OWN THE MARKET DISTRIBUTION GLOBALIZATION & FREE TRADE OWN DISTRIBUTION, OWN THE MARKET INFORMATION INTERNET OWN INFORMATION, OWN THE MARKET
  4. 4. This is no rocket science – Happy customers return and refer..
  5. 5. ..and what are today’s customers expecting ..but speed alone doesn’t cut itSpeedy contact and response
  6. 6. So we want to respond, but.. “Customer Experience” is EVERYTHING What is the biggest challenge for businesses?
  7. 7. So we want to respond, but.. “Customer Experience” is EVERYTHING Too many inputs
  8. 8. ..and too many platforms to read from Too many feedback platforms Need to leverage “Customer Experience” is EVERYTHING BUT HOW?
  9. 9. The Opportunity..
  10. 10. In every challenge lies an OPPORTUNITY Customer Retention Product Development Competition Analysis Business Potential
  11. 11. To harness the potential – BIG Data & Machine Learning (ML) • Machine learning is the subfield of computer science that gives computers the ability to learn without being explicitly programmed (Arthur Samuel, 1959). ... • Machine learning is closely related to (and often overlaps with) computational statistics, which also focuses in prediction- making through the use of computers.
  12. 12. Machines are now able to process natural human language and also derive the human sentiment within 12 Source: Stanford NLP
  13. 13. Machines are now able to process natural human language and also derive the human sentiment within 13
  14. 14. Natural Language Processing (NLP) is very a HOT topic
  15. 15. So how did we approach it..
  16. 16. So how did we approach it..
  17. 17. ..using Microsoft’s Azure ML and Cognitive Services
  18. 18. 18 Wrapping up – What we achieved..
  19. 19. A detailed analysis of our customer feedback 19 Sentiment: Positive Entity: Michael (Person) Entity: Luzern (Location) Input: “Micheal was a great guide and we enjoyed Luzern city very much”
  20. 20. In our initial POC, we received a high accuracy 20 79%accuracy 75% precision 73% recall
  21. 21. “Word cloud” on which location are being talked about 21 Enables business to: - Quickly focus on the “most” talked locations - Setup effective communication to resolve most issues - React FAST - Incorporate feedback to Product Development - Understand what your market peers are doing right
  22. 22. Contact Rahul Ramachandran Director Business Solutions Viking Cruises rahul.ramachandran@vikingcruises.com 22 Amancio Bouza Principal Consultant ipt, Innovation Process Technology AG amancio.bouza@ipt.ch
  23. 23. famous for integration

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