Big data was supposed to help businesses solve problems, but it has turned out to be a big and expensive challenge. According to predictions, by 2025, we will be creating and using over 180 zettabytes of data. To give you an idea, one zettabyte is equal to a billion terabytes, and 2025 is only two years away!
Although not all this data is relevant to businesses, a large portion of it is. In fact, the amount of data used by businesses is expected to grow more than twice as fast as the data used by consumers in the next five years. A survey conducted by Forbes in 2019 revealed that 95% of businesses find it difficult to manage their unstructured data.
Now, here’s an interesting fact: around 80% to 90% of all data is unstructured, which means it’s not easily organized as numbers and requires special handling, like text or other non-numeric information. This means that almost all businesses are struggling with almost all of their data.
Imagine if companies had access to a lot of information scattered across different places. They would have data about their customers, partners, competitors, investments, and supply chains. But here’s the problem: this data is often stored in different systems and not easily connected.
So, when employees want to gather and analyze this data to make smart decisions, it becomes a big challenge. They must search through many applications, and on average, companies use almost a thousand of them! Unfortunately, only a small portion of these applications can talk to each other and share information.
This means that teams must spend a lot of time and effort looking for information in different places, which is not efficient at all. And because of this, important details can be missed, leading to missed opportunities or not noticing potential risks.
But there’s a solution called a knowledge portal!
It’s like having a special place where all the important information is gathered in one spot. Instead of searching through many applications, employees can simply go to the Knowledge Portal and find everything they need easily.
This saves a lot of time and helps them make better decisions for the company. With a knowledge portal, companies can avoid the hassle of searching for information everywhere and ensure that they don’t miss any important details.
Read more: 8 Crucial Contact Center Solution Industry Standards & How to Achieve Them
What are knowledge portals?
In the advanced era of 2023, we have something called Knowledge Portals and Contact Center Solutions. They are like a special group of technologies that work together to create a central place where we can find all the important information and understand things better.
Zach Wahl, who is the President and CEO of a company called Enterprise Knowledge, says that Knowledge Portals are not just one technology, but a combination of different tools that work together.
These tools include a web front-end (which is like the part we see and use on a website), a content management solution (which helps organize and manage the information), enterprise search (which helps us find what we need), and a knowledge graph (which is like a big map that connects all the information together, usually with a tool to manage the categories and relationships).
With a knowledge portal, we can access all the relevant data we need for our work or to understand things better. Let me give you a couple of examples to make it easier to understand. Imagine a sales manager who wants to make a sales call and needs to know everything about the person they’re going to talk to.
With a knowledge portal, they can quickly find all the information they need about that person’s situation, which helps them close the deal. Another example is when we want to keep an eye on any changes in policies that could affect our business. A Knowledge Portal can help us monitor and stay updated on these changes, so we can avoid risks.
Not only that, but Knowledge Portals can also be used with customers and partners. It allows them to find what they need on their own, without always needing our help. It’s like a self-service tool that helps everyone get the information they need easily.
So, a knowledge portal is like a special place where all the important information is gathered. It helps us understand things better, make good decisions, and even allows our customers and partners to find what they need on their own.
How does knowledge portal work?
An efficient knowledge portal works in three stages:
Step 1: Gather
First, it connects to all the important sources of information, like data from inside the company, from outside sources, and even premium data. It organizes and enriches this data, so it becomes easy to understand and use.
Step 2: Understand
Next, the platform uses really smart technology like AI (Artificial Intelligence), machine learning (ML), knowledge graphs (KG), and natural language processing (NLP). These fancy words mean that it processes the data and looks for important patterns, trends, and things that are not normal (anomalies). This helps it understand the data better and prepares important insights.
Step 3: Act
Once the insights are ready, they are presented to the user in a really easy way. They are shown as visualizations, which means they are presented in a way that makes them easy to see and understand. They also give actionable recommendations, which means they suggest things you can do based on the insights. And if needed, they can even be used to automate certain tasks, so things can be done faster and more efficiently.
The knowledge portal platform has some cool features that make it even more helpful. They have something called Semantic Search, which lets you set up automatic searches and alerts. It also has Communities, where you can personalize your experience by following topics that interest you. You can control how these communities are shown on your screen, so you can quickly see news and information about the things you care about.
Another feature is Signals. This is really clever because it looks for specific triggers or important events, like a change in management or an increase in prices. When relevant information related to these triggers is found, the portal automatically sends you alerts with the important insights. These insights are based on smart predictions made by technology. And the best part is that you can create your own models too using an easy-to-use AI interface called AI studio.
So, an efficient and effective knowledge portal helps gather all the important data, understand it better, and then gives you easy-to-understand insights and recommendations. It’s like having a smart helper that shows you important things and helps you make better decisions.
Learn more: 10 Tips to Reimage Your Traditional Contact Center with Digital Technologies
Conclusion
Knowledge Portals are like special tools that help businesses organize and understand their data better. With a simple 3-step approach, they connect to different sources of information, use smart technology to analyze the data, and present the findings in easy-to-understand visualizations and recommendations. It even allows users to set up automatic searches and alerts, so they stay updated on topics they’re interested in.
FAQs on Intelligent Knowledge Portal
1. What is an Intelligent Knowledge Portal?
An Intelligent Knowledge Portal is a specialized platform that brings together different technologies to gather, process, and present important information in a central location, making it easier for businesses to access insights and make informed decisions.
2. How does an Intelligent Knowledge Portal work?
An Intelligent Knowledge Portal works by connecting to various data sources and using advanced technologies like AI, machine learning, and natural language processing to analyze the data and uncover valuable insights. It then presents these insights through intuitive dashboards and alerts, helping users understand information quickly and take action.
3. What are the benefits of using an Intelligent Knowledge Portal?
Using an Intelligent Knowledge Portal offers several benefits, including streamlined access to relevant data, faster decision-making, improved productivity, and the ability to identify opportunities and risks more effectively. It also allows users to personalize their experience and stay updated on specific topics of interest.
eDAS is a leading provider of digital automation solutions, offering cutting-edge Software-as-a-Service (SaaS) solutions to help businesses operate more efficiently. Their comprehensive array of products, solutions and services are tailored to meet each customer’s unique needs. eDAS has a strong presence in India, Africa, the Middle-East, the UK, and USA, and serves both enterprise and mid-market customers around the globe. Their mission is to help customers simplify their business operations through digital transformation. They pursue this goal by utilizing the latest technologies and delivering uncompromised quality to achieve an improved customer experience, greater data exchange, enhanced security and process-oriented solutions.
