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Using next-generation technologies, such as artificial intelligence (AI), chatbots, and AI-powered data analytics, ensures business growth. Skilled virtual assistants in Phoenix also maximize the potential of these tools.
But do all e-commerce businesses need AI analytics and third-party professionals? What about startups and small stores with limited resources?
This article discusses the importance of AI-powered data analytics for optimizing e-commerce performance with virtual assistants. It also explains how these features benefit small e-commerce businesses and share practical tips for outsourcing them.
Read until the end to learn more.
AI-powered Data Analytics Market to Expand Exponentially
AI-powered data analytics is an innovative field that combines AI and machine learning (ML) with analytics to provide insights and predictions, streamline operations, and guide decisions. Data-driven strategies result in enhanced customer service and overall business performance.
A recent Accenture study revealed that only 17% of the 500 organizations analyzed have successfully used AI to attain remarkable growth and evolution. Many businesses have yet to capitalize on this advanced technology and its vast opportunities.
Similarly, Precedence Research forecasts that the global data analytics industry might amount to $346.33 billion by 2030 from $31.74 billion in 2021, with a compounded annual growth rate (CAGR) of 30.41% during the projected period. The primary drivers for this expansion are the need for personalized customer experiences and the continued growth of social media and online shopping.
Phoenix Prepares for Data Analytics Growth
Companies and organizations in Phoenix are preparing to face a digital future driven by complex data and information. Below are some recent developments:
- Phoenix is the market leader in new demand for data centers. Arizona’s biggest city is considered the leading data center market in the U.S.
- The University of Phoenix has introduced the Bachelor of Science in Data Science (BSDS) degree. This new program trains students with the essential skills and knowledge of data analysis, processing, and manipulation with relevant software.
- The Maricopa County Community College District received approval from the Higher Learning Commission for seven bachelor’s degree programs, including data analytics.
- Phoenix-based Western Alliance Bank is building a $2.4 million tech hub to help attract and retain data analytics, finance, software design, and cybersecurity professionals.
Optimizing business and organizational performance is easy with virtual assistants and AI-powered data analytics. This strategy enables your Phoenix organization to build and maintain an edge in the highly competitive e-commerce industry.
The following section explores precisely why you need AI analytics and skilled virtual assistants.
Combining AI Analytics With Virtual Assistants for Business Benefits
Below are reasons to consider optimizing your e-commerce performance with virtual assistants and AI-powered data analytics:
- Deeper customer insights. You can harness AI-powered data analytics to better understand what customers want. Analyzing consumer information, such as spending habits and tastes, can assist you in segmenting the customer base. It also helps virtual assistants or customer service representatives (CSRs) personalize their services.
- Better product and service offerings. AI-based data analytics can help you find and fix common customer issues to boost service and product offerings. This strategy optimizes customer engagement and maximizes the performance of CSRs and virtual assistants.
- Sharper market edge. By evaluating market data, consumer input, and social media interactions, AI-powered data analytics can help you keep pace with the competition. These insights can enhance your targeted marketing efforts and products.
- Tailored customer interactions. AI-backed data analytics allow you to provide individualized service. By assessing consumer data, your CSRs can adjust suggestions, offers, and content based on personal tastes. This action leads to greater customer satisfaction, optimized operations, and high-performing virtual assistants.
- Upgraded products or services. AI-powered data analytics can help you find crucial product design information. By researching consumer opinion, usage patterns, and market developments, you can upgrade product specifications, rates, and marketing techniques for more effective launches and better industry share.
- Actionable information. AI analytics can convert raw data into valuable insights. ML algorithms examine enormous amounts of data to find patterns and correlations that traditional solutions cannot. These fresh insights help you take better actions, such as simplifying procedures and assigning resources efficiently.
Optimizing Performance With Outsourced Analytics and Virtual Assistants
Outsourcing is an excellent option when your Phoenix business lacks financial, human, and technological resources. Business process outsourcing (BPO) companies can optimize customer service and e-commerce performance with AI-powered data analytics and virtual assistants.
BPO organizations have relevant platforms (e.g., AI, analytics, omnichannel) and skilled virtual assistants to efficiently handle e-commerce customer service outsourcing and other back-end functions. They can perform outsourced operations in one of two ways:
- Nearshoring. The service provider manages the designated processes in a nearby nation, such as Mexico or Costa Rica.
- Offshoring. The BPO operates in a country on a different continent. For instance, you outsource e-commerce call center activities to a third-party provider in the Philippines.
Check out the advantages of delegating AI analytics and virtual assistants for your Phoenix e-commerce store.
Enhanced Customer Experience (CX) for Greater Buyer Satisfaction
Teaming up with a reputable, consumer-oriented, and technologically adept BPO provider for your Phoenix e-commerce processes assures exceptional customer service delivery. You can continuously attain high CX since third-party contractors excel in customer acquisition, retention, and satisfaction.
Discover the benefits of superior CX:
- Top-notch shopping experience. AI-powered data analytics can offer more accurate product information for customers. This strategy optimizes their shopping experience, boosting their confidence in your business’s performance and leading them to place more orders. Virtual assistants can further assist them in retaining brand trust.
- Detailed buyer information. The latest customer service platforms can collect, process, and examine large amounts of customer information to identify their preferences and behaviors. Virtual assistants leverage buyer data to improve customer service abilities.
- Heightened product awareness. A solid image contributes to a broader customer base. Using AI-powered data analytics, third-party agents can monitor how frequently your product is mentioned on social media and identify opportunities to adjust your strategy. This capability results in more committed buyers and a larger industry share.
Trained, Experienced Virtual Workers for First-rate Customer Service
Human proficiency is another motivation for delegating AI functions and duties to virtual assistants. For example, collaborating with a service provider in the Philippines or Mexico gives you access to skilled, versatile, and well-educated third-party workers.
These competent professionals can manage your online store’s daily operations regardless of time differences and work shifts. They possess the required hard and soft skills and are well-versed in Western work culture and standards.
Virtual assistants can use AI-powered data analytics to help determine common issues that customers encounter and offer more insights. As such, they can provide more detailed and personalized e-commerce customer support.
With outstanding customer service and interactive web shopping options, your Phoenix e-commerce site can enjoy the following upsides:
- Better business edge
- Stronger customer retention
- Additional product cross-selling and upselling potential
- Enhanced brand and business reputation
- Higher employee morale and fulfillment
Inexpensive, Effective Remote Workers for Higher Returns
Offshoring providers in the Philippines and other BPO companies in Mexico provide world-class yet affordable talent. These third-party work-from-home (WFH) personnel have the essential training, personality traits, and technical expertise to deliver AI-fueled customer service activities.
Data analysts in the Philippines and Mexico earn far less than those in Phoenix, Arizona. Check the details:
| Country | Average Salary of a Data Analyst (in U.S. dollars) |
|---|---|
| The Philippines | $713.87 |
| Mexico | $2,339.02 |
| Phoenix, Arizona (U.S.) | $4,893 |
Sources: The Philippines and Mexico salary figures from Salary Explorer; Phoenix, Arizona (U.S.) salary figure from Indeed
Note: Average wages were converted to U.S. dollars ($) from Philippine pesos (PHP) and Mexican pesos (MXN). The exchange rate was PHP55.61 to $1 and MXN16.72 to $1 as of March 17, 2024.
According to the statistics above, you can cut salary costs by $4,197.13 ($4,893 less $713.87) monthly by outsourcing e-commerce services to the Philippines (the lowest rate) rather than performing them in-house in Phoenix. Keep in mind that the numbers and computations provided are approximations. Ask a service provider for exact costs and other price details.
Expanded Security to Protect Valuable Organizational Data
Outsourcing allows your Phoenix company to leverage AI and virtual assistants to reduce data intrusion, online threats, and other cyber assaults. As a result, potential financial losses are minimized. Thanks to virtual assistants, you also gain cybersecurity systems optimized for continuous performance.
The advantages of implementing an AI-powered data analytics platform with support from outside experts are as follows:
- Higher precision and speed. AI-powered data analytics tools can monitor and scan more digital networks and software than typical cybersecurity methods. They improve threat recognition by spotting more trends and events that standard data protection techniques might miss, thereby accelerating crisis intervention.
- More effective cybersecurity instructions. AI-based data analytics enable virtual assistants and third-party specialists to learn more about online risks during training sessions. More relevant data helps personnel effectively limit and handle issues, optimizing your e-commerce store’s performance and virtual assistants’ productivity.
Reduced Operating Costs to Allow for Additional Capital
Outsourcing AI-powered data analytics and virtual assistants to a BPO firm can reduce operating expenditures compared to building them internally. Establishing and maintaining in-house resources involves a significant investment.
Learn the cost savings when optimizing your Phoenix business’s performance with third-party virtual assistants and AI-powered data analytics:
- Staffing. Working with a customer-centric outsourcing BPO provider equals lower recruitment costs. The third-party provider handles costly and laborious hiring duties. It handles job postings, applicant screening, exams, orientation, and coaching.
- Wages. Payroll and employee-related compensation savings are another positive aspect of outsourcing. The service provider additionally shoulders non-financial employee perks such as vacation, sick leave, and health coverage.
- Skills upgrading. The service provider invests in relearning and training to level up third-party professionals. Skills development lets them stay up-to-date on technical advances, industry norms, and workflow methods, optimizing the performance of virtual assistants and other talent.
- Physical workspaces and assets. Reduced upfront investments are one incentive to outsource AI analytics and virtual assistants for e-commerce. You are no longer required to invest in extra computer systems, office areas, or other digital assets. The BPO provider makes use of its infrastructure and resources.
How to Outsource to Optimize Your Phoenix E-commerce Performance
Consider the following outsourcing practices to optimize performance with virtual assistants and AI-powered data analytics:
- Set objectives and criteria. Together with other decision-makers, assess and develop outsourcing initiatives. Discuss with supervisors and the rest of the staff. Choose the right workforce size, communication mediums (e.g., social networks and messaging apps), and outsourcing strategy (offshore or onshore) for your particular requirements.
- Examine preliminary BPO candidates. Check each prospect’s credentials, experience, and skills. Prefer those with specialized teams, AI technologies, and the latest cybersecurity solutions. These attributes optimize your outsourcing operations. Skilled and high-performing virtual assistants and cutting-edge tools are a must.
- Gather an in-depth breakdown of service fees. Obtain a complete list of service rates, additional charges, and unanticipated costs from vetted BPO providers to better regulate your Phoenix e-commerce company’s outsourced budget. Double-check their pricing, calculate payment packages, and perform a comparative study.
- Generate a request for proposal (RFP). Trim down the number of candidates. Send an RFP to every interested third party on your list. The scope of the outsourced tasks, timelines, budgetary constraints, and proposed remedies to potential difficulties must all be specified in the RFP.
- Partner with a BPO vendor that meets your criteria. Prepare a service-level agreement (SLA) with the new partner, stating the extent and forms of support necessary. The SLA outlines the outsourcing policies and key performance indicators (KPIs).
- Establish regular contact with the partner. Keep communication lines open while monitoring outsourced processes. Examine the third-party contractor’s performance and productivity based on SLA. Maintain periodic interactions to minimize confusion and resolve issues immediately.
The Bottom Line
The additional advantage of outsourcing is that you can prioritize core functions to achieve a business edge. The approach allows your organization to focus on introducing innovative products, upgrading existing offerings, diversifying your market, and other income-generating projects.
Certain obstacles can emerge while outsourcing tasks. To reduce them, conduct adequate research and planning. Also, the BPO partner will provide outsourced customer service tips and other insights to assist you in reaching your objectives.
Let’s connect if you want to learn more about optimizing e-commerce performance with virtual assistants and AI-powered data analytics for your Phoenix business!
