Today, organizations around the globe function in a very competitive environment. With dozens of competitors on their toes, organizations need to gauge the pulse of the business environment and the changes to act firm and fast to sustain in the market. The ones unable to predict, react and sustain the business environment change will soon lose the race.
We have had a few real-time examples in the past, who were unable to recognize and change according to the business environment change and hence lost their business and market shares. Largest Photo filmmakers and the largest mobile phone makers are classic examples.
But how do we respond to the change? When do we respond? Do we have a strategy?
Data is the single mantra to predict and understand the changes.
Organizations are under immense pressure to identify efficient and quick decision-making assistance tools that collect, process and provide meaningful outcomes and help a business identify, predict and act swiftly on business environment change.
One of such tools is Microsoft 365’s Power Platform.
Power Platform consists of:
- Power BI
- Power Apps
- Power Automate
- Power Virtual Agent
Power BI helps organizations to process data from different mediums like SQL, SharePoint, etc. and derive meaningful outcomes in the form of data points, interactive charts, and reports.
For example, insurance firms can analyze their users and the product data to find the performance of their current products and identify the need for new products.
Power Apps enable business users to create mobile-enabled apps to collect and process information, and act on the decision made by business owners. Organizations can use Power AI to perform data prediction, image processing, object detection, physical form processing, and text classifications.
For example, Online retail organizations can use Power Apps with Power AI to understand their users’ sentiment by listening to reviews (social media & review portal) and take swift action to retain the negative sentiment users and enhances the experience for positive sentiment users.
Power Automation enables power users to define and implement simple to a complex business process by integrating with disparate applications on different platforms. UI Flow Power Automation provides RPA feature to the Power Platform.
For example, a banking firm can insert the E-KYC data captured in a modern web-based system to the legacy core banking system with the help of UI Flow.
Power Virtual Agent
Power Virtual Agent allows power users to build chatbots that provide an efficient and context-sensitive answer to the customer query. Also, if needed, a chatbot can initiate the necessary process flow using Power Automation and Power Apps based on the customer response.
For example, Real Estate firms can use a virtual agent to answer customer queries about their new villa launch and towards the end of the conversation, based on the customer input, a bot can generate/load a web-based inquiry or registration form.
Power Platform powers organizations to accelerate their digital journey and help them to align quickly to the business environment changes.
Also, adopting Power Platform increases the overall productivity, efficiency, and customer/employee satisfaction, which is the ultimate need of the hour.