Harness business success with AI in the all-new D365 Business CentralPublish Date: February 18, 2020
AI is democratized today. Businesses small and big can capitalize on artificial intelligence (AI) technologies to accelerate new opportunities and enhance productivity at scale. With affordable Software-as-a-Service (SaaS) solutions, small and medium enterprises (SMEs) can piece together historical data to make proactive decisions with predictive analytics.
For enterprises stepping into the world of Microsoft Dynamic 365’s Business Central for the first time should be aware of the standard features that utilize AI to deliver several great business benefits. Developed in Azure’s machine learning platform lie the core predictive models helming all these features. The power of AI and ML, along with the visualization capabilities of Power BI, enables any business to not only enhance their customer experience but also see significant cost savings.
In my last blog, I went over all the new features that were announced with the release of Business Central Wave 2. Briefly, let’s go over all the existing and new AI-enabled extensions present in the new Business Central.
Five-pillar transformation with release wave 2
The new release wave 2 uses the enhanced AI capabilities to help organizations accelerate their transformation and deliver insights in the following key areas:
- Sales: to empower sales teams with better foresight, increased productivity and clearer anticipation of outcomes across the sales lifecycle
- Customer service:to provide a unified and actionable view into critical customer & operational data, performance metrics and new trends from industry-wide use of AI
- Marketing: to help businesses gather actionable data based on customer feedback, demands, and experience of their products or services
- Fraud protection: to help merchants prevent costs due to frauds, increase revenue and improve customer’s shopping experience
- Product: to help enterprises transform their marketing, sales and product development by acting on real-time insights into customer experience and usage
- Connected store: to enable business owners with physical stores to act on insights from cloud-connected sensors
Now, let’s dive a bit into each of the features:
Business Central Sales Insights
Using the power of personalized and predictive intelligence, D365 Sales Insights enables the team to transform their CRM systems and get foresight for better sales lifecycle outcomes. Business Central makes AI accessible for every salesperson and gives them extra time to focus on building customer relationships. Smart AI-guided coaching suggestions also tips sales members with contextual insights to take the next-best-action based on conversations with the customer. Members can also highlight gaps to make compelling product pitches, bring about improved engagement, and focus on behaviors likely to lead to create positive outcomes.
Business Central Customer Insights
Enterprises can get actionable insights into their critical performance metrics, emerging trends, and operational data. Simply put, your contact center will have a clear view of what is happening, why it is happening, what could happen next, and what should be your next course of action. The AI-led model proactively learns from users’ actions and recommends improvements iteratively. Enterprises can, therefore, make better decisions with proactively ensured customer satisfaction.
Business Central Market Insights
Understanding customers is the very first priority and one of the biggest challenges for business professionals. They get to collect enormous amounts of data from a myriad source and yet are not able to either access or use them effectively, often taking months in the end to decipher. Market Insights feature uses AI to close this very gap from all sources of data – web, search activity, news, browsing behavior, etc. It delivers all this information in an easy-to-consume way to help you understand what customers seek, say, or feel about your products and services.
Business Central Customer Insights
While market insights give information about what customers want, Customer Insights lets organizations use data to build meaningful customer relationships on a personal level. With a single view of customers, enterprises can now build deep understanding from various transactional, observational, and behavioral sources to drive consumer-centric processes and experiences.
Business Central Fraud Detection
Businesses are prone to compromised accounts, stolen payment instruments, fake product reviews, and several other nefarious activities – all of which end up hurting the company and its reputation. To tackle rampant online fraud, D 365’s Fraud Protection will initially begin with account creations and payment fraud protection. From fingerprinting, fraud protection network, and conveying trust to banks, enterprises can use advanced AI engines to create risk analysis and assessments.
Business Central Product Insights
Product Insights lets enterprises easily collect data from their customers’ experience and usage to tailor their product and strategy in real-time. This is a big leap from the traditional ‘sell and forget’ approach, but rather an iterative process to maximize data maturity for out-of-the-box insights.
Business Central Connected Store
This is a newly launched product that lets store managers comprehend and manage their connected physical spaces to boost in-retail profitability. Using AI and IoT, store owners / decision-makers can turn observational data into actionable insights that are presented in clear data visualizations and timely alerts. Connecting physical spaces for data-driven decisions not only optimizes the entire operation but also helps reduce costs in places previously ignored.
AI-led 360-degree and unified financial visibility
Regardless of the size or the expertise of the enterprise, AI is accessible for complete business strategies. Whether it is digitizing a single department or disrupting an entire industry, Business Central can help you get there.
With more improvements coming, we shall keep exploring new avenues and success stories that Business Central creates throughout the world.
If you are interested in gathering more knowledge on Dynamic 365’s new Business Central extensions and how it can potentially help your business run more efficiently, be sure to connect with us at YASH Technologies. As a Microsoft certified partner, we are dedicated to find and solve every tricky complication a business faces, especially if they are the small ones trying to change the world with their expertise. Find more information here.