From the course: Introduction to NLP and LLMs: Principles and Practical Applications
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Building a business case for NLP and LLM initiatives
From the course: Introduction to NLP and LLMs: Principles and Practical Applications
Building a business case for NLP and LLM initiatives
- [Presenter] Successful implementation of NLP/LLM projects requires a strong business case to secure buy-in and resources. In this lesson, we provide an overview of how to build a business case for your NLP and LLM initiatives. First start with a clear problem statement and then articulate the proposed solution, for example, "Our customer support team is overwhelmed with repetitive inquiries, leading to long wait times and low customer satisfaction." Or, "We struggle to personalize marketing campaigns, resulting in low engagement and conversion rates." Or, "Our product development process is slow and inefficient, hindering our ability to innovate and respond to market demands." After you have to find your problem statement, connect the proposed NLP/LLM initiative to strategic objectives. For example, is it increasing revenue, reducing cost, improving customer experience, or enhancing operational efficiency? Then clearly articulating their proposed NLP/LLM solution can be used to…
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