Deep Learning in Marketing and Sales
The buzz and enthusiasm about deep learning has significantly increased over the past few years. With numerous business ventures embracing this technology for good, deep learning is earning huge popularity now. If you are aware of Machine Learning and its implications, understanding Deep Learning won’t be that tough.
Here’s a quick look at what is Deep Learning and its serious applications in the business arena.
What is Deep Learning?
DL or Deep Learning happens to be a significant part of ML. It can be referred to as a subset or subdivision of Machine Learning that maps artificial neural networks. The mapping takes place to recreate or replicate processes performed by human brain.
That’s not all. Deep Learning also plays a crucial part in the identification of speech patterns, algorithms, images, and data analytics.
In spite of this simple and easy-to-understand introduction, there’s no denying the complexities involved in Deep Learning. Implementing DL strategies and incorporating them into existing business processes isn’t an easy affair. It becomes imperative to keep numerous aspects in mind thus devising effective DL strategies.
Transforming the business world with Deep Learning
Deep Learning can be revolutionary. If implemented in the right way, this particular technology can transform business processes to a great extent. Deep Learning helps to decode complex unstructured data and derive consumer insights that are crucial for creating sales and marketing strategies.
From retail and transport to healthcare and manufacturing, DL has started making a mark in various sectors. Let’s take a look at how it’s transforming sales and marketing for businesses:
1. Automating end-to-end customer journey
As mentioned earlier, deep learning will allow marketers to access insights from unstructured data sets such as image, video analytics, speech recognition, facial recognition, text analysis and much more. In short, deep learning becomes a way to accurately understand the voice of a customer.
Customer feedback and expectations can be gauged on a real-time basis and business organizations can get information to upgrade their products and services. Based on these premium insights from deep leaning, Brands can articulate the right messaging to the right customer.
2. Understanding analytics from IoT products
Home automation is creating profitable avenues for organizations across the globe. Deep learning can help businesses understand the analytics for IoT products. It helps to capture data from the machines in different scenarios and monitor them in an easy and cost-effective way.
Through these analytics, deep learning can help to understand the interactions between machines and customers better and based on the data, the performance of IoT products can be enhanced from time to time.
3. Using Chat Bots to enhance CX
The presence of chat bots has revolutionized business marketing to a great extent. Chat bots leverage data mining, artificial intelligence, and natural language processing, thus creating new ways to interact with the end user.
Through chat bots, customers have the opportunity to engage in personalized communications. Apart from ensuring unmatched consumer experience, Chat Bots help an organization to have timely conversations with users and give them product recommendations or suggestions. You can create your marketing strategies with consumer preferences in mind thus offering them targeted products.
4. On-going predictive analysis
Deep Learning plays a highly significant role in the data analysis process. Whether it’s a small or big organization, entrepreneurs will have the chance to perform successful data analytics. Predictive analysis becomes easier, and you can develop crystal clear ideas of customer preferences.
If market reports and figures are anything to go by, Google is running 1000 deep learning projects as of now. The number of projects was only two in 2012, and this will succinctly explain the massive importance of DL in business marketing.