Retrieval Augmented Generation For Small Business
Small businesses are the backbone of the economy, making up a vast majority of companies worldwide. Defined as any independently owned and operated business with fewer than 500 employees, small businesses play a crucial role in job creation, innovation, and community development. Despite their significant impact, small businesses face unique challenges, such as limited resources and competition from larger companies.
As a researcher, marketer, or organization, understanding small businesses’ dynamics and consumer behavior is essential for success. This is where retrieval augmented generation (RAG) comes into play. In this article, we will explore what RAG is and how it can benefit small businesses in today’s competitive landscape.
What is Retrieval Augmented Generation?
Retrieval augmented generation is a natural language processing (NLP) technique that combines retrieval-based and generative models to generate human-like text responses. It uses large language models, such as GPT-3, to provide contextually relevant and coherent responses, making it an ideal tool for tasks like text summarization, question-answering, and conversational AI.
RAG works by retrieving relevant information from a large database of text, then using a generative model to paraphrase and generate a response. This process results in more diverse and human-like responses, making it a powerful tool for businesses looking to improve their customer interactions and content creation.
The Benefits of RAG for Small Businesses
1. Improved Customer Interactions
Effective communication with customers is crucial for any business, especially small businesses looking to build and maintain a loyal customer base. With RAG, small businesses can create personalized and contextually relevant responses to customer inquiries, leading to improved customer satisfaction and retention. Whether it is through chatbots, customer service emails, or social media interactions, RAG can enhance the customer experience and build brand loyalty.
2. Time and Cost Savings
Small businesses often have limited resources, making it challenging to handle multiple tasks simultaneously. With RAG, businesses can automate repetitive tasks, such as responding to customer inquiries, saving time and resources. Additionally, RAG can generate content, such as product descriptions, emails, and social media posts, reducing the need for hiring expensive content creators.
3. Competitive Advantage
In today’s digital landscape, businesses must stand out from their competitors to attract and retain customers. With RAG, small businesses can create unique and engaging content, giving them a competitive edge. By leveraging large language models and NLP techniques, small businesses can create high-quality and relevant content at a fraction of the time and cost.
4. Data Visualization and Analysis
Another benefit of RAG for small businesses is its ability to analyze and visualize large amounts of data. With RAG, businesses can input their data, such as customer feedback, reviews, and social media interactions, and generate insights and visualizations. These insights can help businesses identify patterns, trends, and areas for improvement, leading to more informed decision-making.
Integrating RAG into Small Business Operations
Integrating RAG into small business operations is a straightforward process. The first step is to identify the tasks that can benefit from RAG, such as customer interactions, content creation, and data analysis. Next, businesses can choose an NLP software that offers RAG capabilities and integrate it into their existing systems.
One such software is Speak Ai, an NLP and transcription software that has integrated RAG into its platform. With Speak Ai, businesses can easily automate customer interactions, generate high-quality content, and analyze large amounts of data, all in one place.
In today’s digital age, small businesses must leverage technology to stay competitive and thrive. Retrieval augmented generation is a powerful NLP technique that can benefit small businesses in multiple ways, from improving customer interactions and saving time and resources to providing a competitive advantage and data analysis capabilities. By integrating RAG into their operations, small businesses can enhance their customer experience, create engaging content, and make data-driven decisions, ultimately leading to growth and success.
How To Use Speak’s Retrieval Augmented Generation For Small Business
Step 1: Create Your Speak Account
To start your transcription and analysis, you first need to create a Speak account. No worries, this is super easy to do!
Get a 14-day trial with 30 minutes of free audio and video transcription and analysis included when you sign up for Speak.
To sign up for Speak and start using Speak Magic Prompts with retrieval augmented generation, just visit the Speak app register page here.
Step 2: Upload Your Small Business
We typically recommend MP4s for video or MP3s for audio.
However, we accept a range of audio, video and text file types.
You can upload your file for transcription in several ways using Speak:
Accepted Audio File Types
Accepted Video File Types
Accepted Text File Types
- Word Doc
You can also upload CSVs of text files or audio and video files. You can learn more about CSV uploads and download Speak-compatible CSVs here.
With the CSVs, you can upload anything from dozens of YouTube videos to thousands of Small Business files.
Publicly Available URLs
You can also upload media to Speak through a publicly available URL.
As long as the file type extension is available at the end of the URL you will have no problem importing your recording for automatic transcription and analysis.
Speak is compatible with YouTube videos. All you have to do is copy the URL of the YouTube video (for example, https://www.youtube.com/watch?v=qKfcLcHeivc).
Speak will automatically find the file, calculate the length, and import the video.
If using YouTube videos, please make sure you use the full link and not the shortened YouTube snippet. Additionally, make sure you remove the channel name from the URL.
This library of integrations continues to grow! Have a request? Feel encouraged to send us a message.
Step 3: Calculate and Pay the Total Automatically
Once you have your file(s) ready and load it into Speak, it will automatically calculate the total cost (you get 30 minutes of audio and video free in the 14-day trial – take advantage of it!).
If you are uploading text data into Speak, you do not currently have to pay any cost. Only the Speak Magic Prompts analysis would create a fee which will be detailed below.
Once you go over your 30 minutes or need to use Speak Magic Prompts, you can pay by subscribing to a personalized plan using our real-time calculator.
Step 4: Wait for Speak to Analyze Your Small Business
If you are uploading audio and video, our automated transcription software will prepare your transcript quickly. Once completed, you will get an email notification that your transcript is complete.
That email will contain a link back to the file so you can access the interactive media player with the transcript, analysis, and export formats ready for you.
If you are importing CSVs or uploading text files Speak will generally analyze the information much more quickly.
Speak will automatically embed your data in a well-architected vector database which allows you to use retrieval augmented generation for Small Business.
Step 5: Visit Your File Or Folder
Speak is capable of analyzing both individual files and entire folders of data.
When you are viewing any individual file in Speak, all you have to do is click on the “Prompts” button.
If you want to analyze many files, all you have to do is add the files you want to analyze into a folder within Speak.
You can do that by adding new files into Speak or you can organize your current files into your desired folder with the software’s easy editing functionality.
Step 6: Select Speak Magic Prompts To Analyze Your Small Business
What Are Magic Prompts?
Speak Magic Prompts leverage innovation in artificial intelligence models often referred to as “generative AI”.
These models have analyzed huge amounts of data from across the internet to gain an understanding of language.
With that understanding, these “large language models” are capable of performing mind-bending tasks!
With Speak Magic Prompts, you can now perform those tasks on the audio, video and text data in your Speak account.
Retrieval augmented generation is what makes these Magic Prompts work so well.
Step 7: Select or Create Your Assistant Type
To help you get better results from Speak Magic Prompts, Speak has introduced “Assistant Type”.
These assistant types pre-set and provide context to the prompt engine for more concise, meaningful outputs based on your needs.
To begin, we have included:
Choose the most relevant assistant type from the dropdown.
You can also create your own custom Assistant Template Type.
If you visit the new page Account Preferences, you can see there is now an area where you can create your own custom Assistant.
This allows you to set the context of the engine for higher quality and more consistent outputs.
For example, you could say:
“We are [COMPANY NAME]. We are analyzing [DATA] to understand how to improve [GOAL]. We want all responses to be concise and in table format.”.
This becomes a reusable template in any of your manual or automated Magic Prompts.
You can create multiple templates for different use cases.
As an example, the analysis you run on a focus group may be different than a one-on-one interview.
Step 8: Create Or Select Your Desired Prompt
Here are some examples prompts that you can apply to any file right now:
- Create a SWOT Analysis
- Give me the top action items
- Create a bullet point list summary
- Tell me the key issues that were left unresolved
- Tell me what questions were asked
A modal will pop up so you can use the suggested prompts we shared above to instantly and magically get your answers.
If you have your own prompts you want to create, select “Custom Prompt” from the dropdown and another text box will open where you can ask anything you want of your data!
Step 9: Review & Share Responses
Speak will generate a concise response for you in a text box below the prompt selection dropdown. With Chat enabled, you can also continue to query that data to reveal more insights and reformat the information to your needs.
In this example, we ask to analyze all the Small Business in the folder at once for the top product dissatisfiers.
You can easily copy that response for your presentations, content, emails, team members and more!
Speak Magic Prompts Pricing
Our team at Speak Ai continues to optimize the pricing for Magic Prompts and Speak as a whole.
Right now, anyone in the 14-day trial of Speak gets 100,000 characters included in their account.
If you need more characters, you can easily include Speak Magic Prompts in your plan when you create a subscription.
You can also upgrade the number of characters in your account if you already have a subscription.
Both options are available on the subscription page.
Alternatively, you can use Speak Magic Prompts by adding a balance to your account. The balance will be used as you analyze characters.
Completely Personalize Your Plan 📝
Here at Speak, we’ve made it incredibly easy to personalize your subscription.
Once you sign up, just visit our custom plan builder and select the media volume, team size, and features you want to get a plan that fits your needs.
No more rigid plans. Upgrade, downgrade or cancel at any time.
Claim Your Special Offer 🎁
When you subscribe, you will also get a free premium add-on for three months!
That means you save up to $50 USD per month and $150 USD in total.
Once you subscribe to a plan, all you have to do is send us a live chat with your selected premium add-on from the list below:
- Premium Export Options (Word, CSV & More)
- Custom Categories & Insights
- Recorder Customization (Branding, Input & More)
- Media Player Customization
- Shareable Media Libraries
We will put the add-on live in your account free of charge!
What are you waiting for?
Refer Others & Earn Real Money 💸
If you have friends, peers and followers interested in using our platform, you can earn real monthly money.
You will get paid a percentage of all sales whether the customers you refer to pay for a plan, automatically transcribe media or leverage professional transcription services.
Use this link to become an official Speak affiliate.
Check Out Our Dedicated Resources📚
Book A Free Implementation Session 🤝
It would be an honour to personally jump on an introductory call with you to make sure you are set up for success.
Just use our Calendly link to find a time that works well for you. We look forward to meeting you!