With Dynamics 365, Microsoft is leveraging new technology to change the way companies do business, interact with customers, manage teams and track data.
Expanding on a foundation of business applications for Finance, Operations, Sales and Customer Service, Dynamics 365 can help serve customers better, by using several emerging technologies like the Internet of Things (IoT), artificial intelligence and chatbots.
With over 250 billion customer support requests made per year, costing businesses $1.3 trillion to service, chatbots are essential to businesses. They are programmed to handle routine customer service functions and reduce costs.
Chatbots can also be used for sales and marketing, as they collect customer information to create customer profiles.
Typically this data is stored separately within the Chatbot interface and employees must track it manually spending several hours each week recording these interactions. With Dynamics 365, Chatbot conversation history can be stored automatically on the customer record of an account allowing service and sales reps to make more informed decisions faster.
Big data Analytics
We currently create over 2.5 quintillion bytes of data daily! Despite this, businesses must still carry out critical analysis of this data to deliver a better experience to customers.
With the help of data analytics, businesses can gather useful insights into consumer preferences and behaviors. According to a Salesforce survey, 57% of consumers will share personal data with companies that promise to send personalized offers and discounts.
These days, data arrives from multiple sources including email, social media, phone, surveys etc. This requires businesses to either:
- optimize multiple channels to gather consumer information, or
- find solutions that offer centralized dashboards.
A solution that offers a centralized dashboard reporting is Microsoft’s Dynamics 365 and Power BI. Together these tools pull in data from any number of sources to create powerful visuals, charts and tables. Now easy to analyze, companies can quickly use this data to determine actionable steps toward improving the customer experience and the bottom line.
Our understanding of artificial intelligence has come a long way from the sci-fi concepts of the Terminator movie franchise. These days, with the help of AI-powered tools, businesses can confidently ramp up their business processes.
With its ability to analyze, learn and adapt, AI can solve specific problems faster and more accurately than humans. This helps to improve decision-making abilities within organizations.
Microsoft has announced that a new AI service is coming soon for Dynamics 365. The first app to use this technology will be Dynamics 365 for Sales. Get more information about this exciting development here.
Internet of Things (IoT)
According to this Business Insider report, businesses will be the greatest adopters of IoT solutions. The report predicts a quadrupling of business investment on IoT over the next 5 years, as more businesses learn how the IoT can lower operational costs.
Stay Ahead of the Competition
With customer expectations on the rise, Microsoft has developed the Dynamics 365 platform to integrate each of these tools so you can create rewarding customer experiences and stay ahead of the competition.
Dynamics 365 allows businesses to:
- Stay connected with advanced Customer Relationship Management (CRM). With an integrated CRM, you can keep all of your customers’ contact information in one place, including details of products purchased and the marketing materials they respond to so you can identify your most valuable accounts, track other important KPIs, better understand your customers and discover new cross-sell opportunities, to help your business increase revenue.
- Make timely, smart decisions with Business Intelligence. With vital data points automatically organized and analyzed, you will get a valuable perspective on your company’s overall ‘health’. This allows you to identify granular insights that can be used make timely and informed business decisions.
- Increase agility and scalability. With your teams and business processes better aligned, your business gains even more value from existing technologies. In Dynamics 365, this means seamlessly integrating with other Microsoft products, including Outlook, Sharepoint, Office 365 and Excel. With a shortened learning curve, your business will operate with greater agility, leading to faster scaling.
- End duplication of effort with automated workflows. Automation allows your team replace repetitive, manual tasks with automated workflows, across Dynamics 365, Office 365 and other applications. Automation cuts administration and eliminates duplication of effort, resulting in better engagement experiences.
Technology is completely transforming the way businesses operate. Whether you’re a small, medium-sized or large business, it’s time to take advantage of new technology to provide a great overall customer experience. With reviews easily spread via Facebook, Twitter, and other social media channels, bad news can travel really fast.
But delivering the best customer experience doesn’t need to feel like you are banging your head against a brick wall. From cloud-based CRM platforms to machine learning, new technologies like Dynamics 365 are making it easy for you to create a seamless customer experience.
To learn how Dynamics 365, can help your business create rewarding customer experiences, contact Admiral Consulting Group today.