Natural Language Processing (NLP) – What exactly is it?
Natural Language Processing or NLP is a concept based on deep-learning that enables computers to make sense of human language and gather meaning from inputs given by users. In the context of chatbots, NLP plays a key role in assessing the intent of the query asked by the users, followed by creating appropriate responses based on a contextual analysis similar to that in human interaction.
With NLP, you can appropriately train your chatbot on the different interactions it will go through to allow it to streamline the responses as per the intent of the query.
Here, training the chatbot means creating a repository of phrases which have the same intent/meaning and helping the chatbot identify the intent from the question. The aim here is to give your chatbot enough references, allowing it to interpret and answer questions and commands in a more accurate manner.
Let’s understand this better with an example.
Suppose a user wants to know about the availability of the different colors available for a product. There are many different ways of asking this question such as –
- Are there other colors available?
- Do you have it in white color?
- How many color variants are available for ‘x’ product?
NLP, in this case, lets your bot develop a deeper knowledge base and understanding by studying previous examples of such chats to tackle such variations in questions. Bots can also be trained to watch live conversations (either via text in emails or IM chats or on the phone through a type of voice understanding such as Alexa/Siri) and learn from them.
The Need For NLP WhatsApp Chatbot
The NLP function might not apply to every chatbot. However, if you’re building a chatbot wherein your customers can type in queries and do not follow a preset sequence of conversation then investing in NLP can be a complete game-changer.
NLP is extremely beneficial for WhatsApp chatbots, that allow users to type in their queries. Using sequential chatbot for WhatsApp is inconvenient as users are required to type in the exact option they want to choose.
WhatsApp chatbots are created for various purposes, such as to offer enhanced customer service, dealing with FAQs, and more. In the case of chatbots without NLP, the functioning of the bot is primarily based on pre-fed static information, making the bot less-equipped to handle human languages with variations in intent, emotions, and sentiments.
Being the leader of the messaging world, your WhatsApp chatbot continuously faces a significant amount of questions. Not being able to understand customers’ queries as per their intended meaning can negatively affect the customer experience. NLP chatbot, on the other hand, can serve as an excellent solution for enhancing the user experience by delivering contextual answers in a much more consistent way. WhatsApp NLP chatbots bring a human touch to the conversations by making them identical to the conversation between two humans.
NLP WhatsApp chatbot development can also help enterprises perform a range of other different tasks, including:
- Easy sending of alerts, reminders, and notifications
- Answering queries/complaints in real-time and sending updates on the query status & resolution
- Helping clients explore services offered and product catalogue
- Collecting customer feedback
Read full article about How To Build NLP WhatsApp Chatbot With Dialogflow
The latest trending report Global Natural Language Processing (NLP) Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The Natural Language Processing (NLP) market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.The global Natural Language Processing (NLP) market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 19.2%% in the forecast period of 2020 to 2025 and will expected to reach USD 1777.5 million by 2025, from USD 879.4 million in 2019.Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/18841-natural-language-processing-market-analysis-reportThe major players covered in Natural Language Processing (NLP) are:3MAverbisNuance CommunicationsLinguamaticsMicrosoft CorporationAmazon AWSDolbey SystemsIBMSASHealth FidelityBy Type, Natural Language Processing (NLP) market has been segmented into:Machine TranslationInformation ExtractionAutomatic SummarizationText and Voice ProcessingOthersBy Application, Natural Language Processing (NLP) has been segmented into:Electronic Health Records (EHR)Computer-Assisted Coding (CAC)Clinician DocumentOthersThe report offers in-depth assessment of the growth and other aspects of the Natural Language Processing (NLP) market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)South America (Brazil, Argentina, Colombia)Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Natural Language Processing (NLP) Market @ https://www.decisiondatabases.com/contact/download-sample-18841There are 14 Chapters to deeply display the global Natural Language Processing (NLP) market.1 Natural Language Processing (NLP) Market Overview2 Company Profiles3 Global Natural Language Processing (NLP) Market Competition, by Players4 Global Natural Language Processing (NLP) Market Size by Regions5 North America Natural Language Processing (NLP) Revenue by Countries6 Europe Natural Language Processing (NLP) Revenue by Countries7 Asia-Pacific Natural Language Processing (NLP) Revenue by Countries8 South America Natural Language Processing (NLP) Revenue by Countries9 Middle East and Africa Revenue Natural Language Processing (NLP) by Countries10 Global Natural Language Processing (NLP) Market Segment by Type11 Global Natural Language Processing (NLP) Market Segment by Application12 Global Natural Language Processing (NLP) Market Size Forecast (2021-2025)13 Research Findings and Conclusion14 AppendixPurchase the complete Global Natural Language Processing (NLP) Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-18841Other Reports by DecisionDatabases.com:Global English Language Learning Market 2020 by Company, Regions, Type and Application, Forecast to 2025Global Natural Language Processing (NLP) Software Market 2020 by Company, Regions, Type and Application, Forecast to 2025Global Natural Language Generation (NLG) Software Market 2020 by Company, Regions, Type and Application, Forecast to 2025About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
We provide intellectual, precise and meaningful data at a lightning speed.For more details:DecisionDatabases.comE-Mail: [email protected]: +91 9028057900Web: https://www.decisiondatabases.com/
As human-generated data has exponentially increased on many platforms, it has become impossible for the businesses to check or interact with that data manually, here the applications of NLP take charge.For example, if a business wants to check the reviews of their new product and make inferences from it, allotting people for reading the reviews and categorizing them will be inefficient, as there are lakhs of reviews.
These chatbots can be customized for a specific market like Kotak Mahindra Bank now uses Keya as its virtual assistant.How NLP works?Making sense of the syntax is one of the most critical things for applying NLP algorithms; some of the syntax analysis methods are:Lemmatization: It means reducing the various inflected forms of a word into a single form for a more straightforward analysis.Morphological segmentation: It involves dividing words into individual units called morphemes.Word segmentation: It consists of dividing a large piece of continuous text into distinct units.Part-of-speech tagging: It involves identifying the part of speech for every word.Parsing: It consists in undertaking a grammatical analysis for the provided sentence.Sentence breaking: It consists in placing sentence boundaries on a large piece of text.Stemming: It involves cutting the inflected words to their root form.Morphological segmentation: It consists of dividing words into individual units called morphemes.Word segmentation: It consists of dividing a large piece of continuous text into distinct units.Part-of-speech tagging: It involves identifying the part of speech for every word.Parsing: It involves undertaking a grammatical analysis for the provided sentence.Sentence breaking: It involves placing sentence boundaries on a large piece of text.Stemming: It involves cutting the inflected words to their root form.Open-source libraries for NLPThere are many NLP libraries on the internet, some of the most popular libraries are:NLTK: It is the most featured library; the most used combination is nltk(Natural Language Toolkit) and python.
This library is for production usage, written in the programming language Cython; it provides the fastest syntactic parser in the market.
Although the menu of this library is limited, there are fewer choices.TextBlob: This library is an extension of nltk.
This library is suitable for smaller projects.Saas Tools for NLPPeople want to generate insights from texts, but don’t want to delve deeper into the working, some of the tools for non-technical people are:Amazon Comprehend: Amazon Comprehend is a natural language processing software that uses machine learning to look for insights and relationships within a text.
Advertising companies analyze the digital footprints of a user to predict their potential audience interested in their products.NLP software helps increase the range of channels for ad placement.Healthcare is entering a new era with NLP applications, data mining integration in healthcare systems helps doctors make more well-informed decisions and improve diagnosis, and patient treatment.Chatbots are a prime example of automation tech.
The Global Natural Language Processing (NLP) Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments based on type, technology, application and end-user.
The study incorporates periodic market estimates and forecasts at regional and country level.Geographical Leader North AmericaLeading Segment By Type – Statistical NLPBy Technology – Recognition technologiesBy End User – Automotive, IT & telecom and Defense & AerospaceBy Application – Machine translationFinal Report will cover the impact of COVID-19 on this industry.Browse the complete Global Natural Language Processing (NLP) Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/8382-natural-language-processing-nlp-market-reportThe report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as:SAS InstituteNokia Corp.Microsoft Corp.Facebook, Inc.Apple Inc.3M CompanyNuance CommunicationsNetbase Solutions, Inc.Verint systemsFuji XeroxA detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By Types:Statistical NLPHybrid based NLPRule NLPBy Technology:Recognition technologiesOperational technologiesAnalytics technologiesBy Applications:Machine translationInformation extractionReport generationQuestion answeringOthersBy End User:AutomotiveHealthcareBanking Financial Services and InsuranceIT and TelecomGovernment, Defense & AerospaceMedia & AdvertisementAcademia and EducationBy Geography:North AmericaEuropeAsia PacificLatin AmericaMiddle East And AfricaDownload Free Sample Report of Global Natural Language Processing (NLP) Market @ https://www.decisiondatabases.com/contact/download-sample-8382The Global Natural Language Processing (NLP) Market has been exhibited in detail in the following chapters –Chapter 1 Natural Language Processing (NLP) Market PrefaceChapter 2 Executive SummaryChapter 3 Natural Language Processing (NLP) Industry AnalysisChapter 4 Natural Language Processing (NLP) Market Value Chain AnalysisChapter 5 Natural Language Processing (NLP) Market Analysis By TypesChapter 6 Natural Language Processing (NLP) Market Analysis By ConsumablesChapter 7 Natural Language Processing (NLP) Market Analysis By ApparelsChapter 8 Natural Language Processing (NLP) Market Analysis By End-UserChapter 9 Natural Language Processing (NLP) Market Analysis By GeographyChapter 10 Competitive Landscape Of Natural Language Processing (NLP) CompaniesChapter 11 Company Profiles Of Natural Language Processing (NLP) IndustryPurchase the complete Global Natural Language Processing (NLP) Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-8382Other Reports by DecisionDatabases.com:Global Cloud-Based English Language Learning Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
We provide intellectual, precise and meaningful data at a lightning speed.For more details:DecisionDatabases.comE-Mail: [email protected]: +91 9028057900Web: https://www.decisiondatabases.com/
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Machines demonstrate Artificial Intelligence (AI) for their actions, particularly in an eCommerce business.
It marks a revolution of computer science that is growing exponentially.
It includes product cross-selling and up-selling.Online retailers use AI for providing chatbot services, personalized services to online shoppers, and for analyzing customer comments.According to a study of Ubisend in 2019, 20% of consumers are willing to buy goods or services from the chatbot, and 40% of online shoppers intend to get great offers from chatbots.As per the prediction of Gartner, 80% of all customer interactions will be managed by AI.Global E-commerce sales will touch $4.8 billion by 2021.Transforming Shopping ExperienceShoppers make a particular brand of purchases online; there is a particular pattern.
The eCommerce retailer analyzes the pattern and sends a personalized offer to the shopper.
Various enterprises formulate responses.Modus Operandi of Chatbot: It includes significant tasks, which are:User Request Analysis: The chatbot analyzes the request of the user, identifies the intent of the user, and extracts relevant entities.Returning the Response: It gives the most appropriate response that comes froma pre-defined text,a text retrieved from the knowledge base,data based in systems,a conceptualized piece of information based on the data provided by the user, orThe result of an action that the chatbot performs by interacting with some backend applications.Impact of AI in EcommerceNatural Language Processing (NLP) appropriately interprets voice-based communications with consumers.Going deeper into consumers’ intent to identify the right products or services.Consumers are enabled with self-learning capabilities that help them to improve through repeated experienceMake personalized or targeted offers to consumers.Recommendation of Intelligent ProductsThe conversion rate of recommendations is 915%.
As complementary to AI, big data impacts customer choices with the knowledge of earlier purchases, products searched, and online browsing habits of customers.Benefits of Product RecommendationMore numbers of customers returning to purchase again.Improvement in customer retention and sales.Providing a personalized shopping experience to online buyers.Facilitate a personalized business email campaign.Deriving useful user insights from the customer data so generated.Artificial Management at AmazonDiscovery and SearchFulfillment and logisticsEnhance Existing productsDefine new productsBoring Machine Learning to allInventory ManagementConventional Inventory Management aims at maintaining an exact level of inventory to fulfill the market demand without generating idle stock.
