Narrative Analytics opens the door to a world of communication in which machines take on the task of explaining what they know to us in a way that is easy to understand. Technology that makes us smarter is the goal. Not just technology that is smart in and of itself, but technology that is able to communicate with us in a way that amplifies our own abilities rather than replacing them.
All you have to do is read.
Despite the promise of Big Data, few organizations have yet to tap into its true potential. Companies have spent billions amassing and managing huge data sets, resulting in a myriad of data analytics technologies that spill out numbers and visualizations. The challenge? These tools require skilled people to not only interpret the data, but also effectively communicate what’s happening in a timely and scalable way.
Narrative Analytics is a new approach to automated communication that starts with the story. The story drives a set of communication goals that reflect what needs to be said. These, in turn, define the analysis that needs to be performed in order to get the facts that support the story. The result is a complete set of requirements to drive the creation of the narrative. This linkage between story, analytics and data - the core tenet of Narrative Analytics - is fundamental in making sure that you say the right thing and the right time.
Since our inception, Narrative Science has been using Narrative Analytics to generate the insight companies need to improve performance, create better customer experiences and increase revenue. By eliminating human error and the constraints of time and scale, Quill systematically creates personalized narratives that more accurately reveal where there are issues and where there are opportunities to help people make better business decisions and, ultimately, make them smarter.
Our client spent multiple years and millions of dollars rolling out a new point of sale system only to realize that the reports contained little value or insight, and as a result, utilization was less than 10%.