Knowledge Management (KM) is the methodical management of information, data, and knowledge assets held by an organization to add value and achieve strategic goals and objectives. In simple words, it is the process of capturing, sharing, and successfully utilizing knowledge.
Knowledge management has a variety of use cases, including employee onboarding, customer onboarding, customer service and self-service. These processes can be expedited and run efficiently with the help of knowledge sources. Also, there are knowledge management applications that enable field technicians to leverage knowledge and insights for better productivity and cost savings.
Today, artificial intelligence (AI) has transformed the way organizations handle their knowledge management processes. Knowledge intelligence, i.e. AI-powered knowledge management, is a popular trend that will only become more pertinent over time as businesses come to understand the advantages of integrating it into their operations.
Why Knowledge Intelligence in Customer Service?
Agents are swamped
Teams representing a major corporation with millions of customers will manage a greater volume of interactions. Customer service representatives are flooded with help requests, follow-up calls, emails to respond to, reports to process, and other tasks. Apart from this, rigid operational methods, old KM methods and broken internal processes make it harder for agents to satisfy customers. Hence it is key to invest in a modern, adaptive software tool.
Issues are getting complex
Customer support personnel deal with a variety of problems every day. While some are simple to solve, others are more challenging. Support agents are the face of the company and the impression they leave on customers as they work through complex problems has a significant bearing on how that company is seen and whether or not those customers will return. Therefore, it's essential that agents have the right tools when tackling customer issues.
Customers want resolution fast
One of the most illuminating results from the survey conducted by Dimensional Research is that “customer service experiences are judged more on the timeliness of the interaction than on its final outcome.” Sadly, after providing all the details to the agent, customers are forced to repeat the information when talking to the next person in the support team.
Need to improve customer experience
Making customers work too hard to find answers to their queries leads to a bad customer experience. Telling agents to go above and beyond for customers is likely to result in confusion, lost time and effort, and expensive giveaways. On the contrary, companies can improve customer experience and thereby create loyal customers by helping them find solutions quickly and easily.
Advantages of Knowledge Intelligence in Customer Service
All Data At One Place
The core of knowledge intelligence is an information repository that houses data on customers, products, services, and frequent problems or complaints. With its help, decisions can be made more quickly and problems can be solved effectively because all the information is in one location. The knowledge source is a cloud-based solution that makes it easier than ever before to manage customer service data.
Analyze & Act On Data Faster
Organizations can quickly identify trends and patterns using knowledge intelligence. Support leaders no longer have to manually find out problem areas, internal issues and so on. AI-powered knowledge management systems provide real-time insights into how customers interact with the company.
Automation will simplify the process of carrying out repetitive tasks. Each time, it takes a lot of time to perform it manually. Although it may not appear to be much now, it will build up over time. AI allows the automation of more processes than ordinary automation. It enables support leaders to build workflows based on their own rules. This will cut costs, save time and improve efficiency.
Strengthen Self-Service Tools
AI-powered knowledge base systems allow businesses to automate responses to customer inquiries. A proactive and personalized AI bot enhances customer experience and reduces agent workload. Static knowledge is never enough in the world of customer service. By adding knowledge to the system time to time, it stays updated and serves useful for agents and customers alike.
Deliver Better Customer Experiences
Knowledge intelligence is a highly integrated and innovative solution that opens the door for improved customer experience. It provides a comprehensive set of features designed to make sense of the data and take action based on insights gained from analyzing it. It will thereby accelerate issue resolution and reduce customer effort.
Improve Productivity & Reduce Costs
According to a study of 1000 companies:
The average response time by the customer support team is 7 hours and 4 minutes, but the top 5% of organizations respond in just 16 minutes.
While the issue resolution time is 3 days and 10 hours on average, the top 5% of companies can solve problems in just 17 hours.
On average, each support agent can handle 21 tickets per day.
With the use of artificial intelligence, organizations can boost output while keeping costs down. Knowledge intelligence helps support organizations to become the cream of the crop as it optimizes their operations and internal data-sharing procedures.
Ascendo Offers Knowledge Intelligence
Ascendo helps companies provide proactive customer support with the power of artificial intelligence. With Ascendo's no-code integrations, support teams can link to many CRMs and other data sources and see all of the solutions listed together in one location.
Consider the unique tips and techniques established by an employee to complete a task faster or more efficiently. This is important information that is lost when an employee leaves. Organizations that overlook such information jeopardize their overall performance by risking the loss of knowledge that only a few people possess. With the Ascendo AI engine, it's easier to structure tribal data and convert it into valuable knowledge.
In a world of limitless possibilities, knowledge bases should incorporate the latest developments as well. Using Ascendo, support teams can update and improve knowledge articles as needed. Ascendo also helps identify how issues evolve over time, which ones are prevalent, and which ones require solutions.