Abundance of Information Often is a Liability

sasha uritsky

Jun 22, 2014

A massive change has occurred in the world during the last ten to twenty years. Until recently and throughout the history of mankind information was hard to access. Obtaining and sharing information was either a laborious process or impossible, and the underlying assumption was that information can never be enough.

Today, of course, we have the opposite picture. Not only information is easily available, it keeps pouring in from a growing number of sources, and we continuously find ourselves in situations when there is more information than we want or able to process.

A major task we, as species, are facing is therefore how to reduce or filter out relevant information. It is, to repeat, in direct opposition to the task we’ve been accustomed to during all previous centuries, which was how to obtain information.

Since this change took place only recently, within a lifetime of one generation, we didn’t have time to develop efficient set of procedures to address the new problem. But the work has started and will only accelerate with time.

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NMODES at Collision 2019

While Toronto is charged with hosting the Collision - "North America's fastest-growing tech conference" this year, nmodes is excited to make its first appearance among designated start-ups who have been selected to demo their products to conference visitors, potential investors, tech-enthusiasts and business executives.

nmodes, a year and a half in the market, offers a conversational product that uses AI to provide its customers with a scalable solution to execute 24/7/365 marketing acquisition and customer experience programs. While nmodes has already garnered its global presence with 40+ clients, North American market continues to be most enterprising for AI Chatbots and Voicebots. Collision Tech Event offers an exciting opportunity for nmodes team to take its networking game a notch higher and pitch it to businesses looking to catch-up with the AI space and be early adopters of hottest AI products available in the market.

How nmodes is different than other chatbots?

AI space is nothing new to the tech world as chatbots, virtual assistants and voice bots are finding their commercial contribution toward improving the customer experience of brands. nmodes continues to work closely with the businesses focusing on helping brands drive double digit growth in lead conversions and engagement rates.

Three key market differentiators for nmodes:

1. Interlacing marketing and customer experience

nmodes chatbots are custom built for the brands. nmodes solutions support full customer lifecycle from lead generation to marketing campaigns to scheduling demos, to gathering feedback and understanding engagement patterns of existing customers.

2. Lifetime AI training

nmodes solutions promise to work with progressive AI capabilities that are built to recognize old and new communication patterns and form a sensible response template that is malleable and fulfills the intent of desired conversation for the customers.

Nmodes solutions work on three principles while conversing with the customers.

A) Keep business context

nmodes solutions remember the customer’s history and their presence in the sales cycle and hence conversations are based upon the context of customer for the brand.

B) Data personalization

personalization of conversations focuses on collecting different data points from all internal and external data sources, helping brands deliver tailored and one-on-one predictive interactions.

C) Easy to use analytics

nmodes advanced dashboards uncover detailed analytics and insights on customer conversion rates, engagement rates and listen upon most common conversations to help brands better align their marketing communications and customer experience strategies.

When Big Data is not so big anymore

We are inundated with information. There is so much information around us they coined a special term - Big Data. To emphasize the sheer size of it.

It is, of course, a problem - to deal with a large amount of data. Various solutions have been created to address it efficiently.

At nmodes we developed a semantic technology that accurately filters relevant conversations. We applied it to social networks, particularly Twitter. Twitter is a poster child of Big Data. They have 500 million conversations every day. A staggering number. And yet, we found that for many topics, when they are narrowed down and accurately filtered, there are not that many relevant conversations after all.

No more than 5 people are looking for CRM solutions on an average day on Twitter. Even less - two per day on average - are asking for new web hosting providers explicitly, although many more are complaining about their existing providers (which might or might not suggest they are ready to switch or looking for a new option).

We often have businesses coming to us asking to find relevant conversations and expecting a large number of results. This is what Big Data is supposed to deliver, they assume. Such expectation is likely a product of our ‘keyword search dependency’. Indeed, when we run a keyword search on Twitter, or search engines, or anywhere we get a long list of results. The fact that most of them (up to 98% in many cases) are irrelevant is often lost in the visual illusion of having this long, seemingly endless, list in front of our eyes.

With the quality solutions that accurately deliver only relevant results we experience, for the first time, a situation when there are no longer big lists of random results. Only several relevant ones.

This is so much more efficient. It saves time, increases productivity, clarifies the picture, and makes Big Data manageable.

Time for businesses to embrace the new approach.