New technologies, a change in the client’s habits and a more dynamic and volatile environment has made manufacturers go from a multichannel strategy to an omnichannel one, which pretends to guarantee the client a unique experience combining in their decision making process both online and offline channels, that allow them to see at any moment the interactions made by every client and address him through the most appropriate channel with a personalized message.
It is crucial, then, to count on tools that let us add information from different channels to a single one so everyone that interacts with the client, has all the necessary information to guarantee a great experience to the client available.
Artificial intelligence goes one step further in the business transformation; a years ago, the trend was to use Big Data to analyze data and. From there, extract corrective actions, but now we need to foresee future scenarios and perform preventive actions that allow us to ensure our business’ profitability. We can do this using Machine Learning based algorithms, which allow us to make an accurate forecast based on the data historic. We can then suggest actions that guarantee the success of our commercial and marketing actions based on the data historic acquired over time.
These algorithms are focused on representing a fictional but very likely scenario, which will be determined by the confidence interval of the obtained results. These results will let us see which actions to execute for every client without having to make an exhaustive analysis on historic data, as the forecast is based on this historic data. Machine Learning based Artificial Intelligence offers other advantages, like processing a huge amount of data, so we not only reduce the analysis time but also obtain highly reliable results that are not conditioned by any human opinion.
The OMAI concept is born in this context; it’s a term coined by Vincle that means Omnichannel Artificial Intelligence and that can be described as the usage of Artificial Intelligence inside of an omnichannel strategy. Omnichannel’s new challenges, along with the incorporation of artificial intelligence into business processes have made Vincle merge both concepts into a Vincle platform that allows us not only guaranteeing a unique experience to the client independently of the channels used, but also foreseeing the business processes with suggested actions, which will have a great impact on the business’ profitability.
OMAI, as main competitive advantages, counts with a forecast of the client’s behavior based on his shopping habits, so we can adapt our business processes according to the most appropriate channels to achieve a greater profitability from every client. For example, knowing the products that have a better introduction in each client considering the current catalogue and the client’s shopping habits it’s not only a decision for the sales person to take anymore; every channel interacting with the client, both online and offline, will be able to suggest him these certain products, allowing a segmented and personalized push action, as well as promotion suggestions.
The union of these two concepts, Omnichannel strategy and Artificial Intelligence, is, thus, very powerful and exceeds the current business expectations, it automatizes the business processes and it achieves a better capillarity of the information throughout the whole organization.
With an omnichannel strategy, a company’s profitability can be multiplied by 8, but by adding an artificial intelligence technology into the process, the multiplicative factor can be doubled. The commercial profitability will be increased, so it is a tool to consider if we want to guarantee the success of any commercial process.
To sum up, new technologies clearly affect in a very positive way a company’s competitive advantage, but in Vincle we think that it is not enough to have them; we need to put them together so we double their efficacy and we get to improve productivity and profitability and increase sales. With this objective, Vincle includes different products and modules focused on meeting the needs that every business process has, relying always on the market’s latest cutting edge technology.