| You've collected this ... | ... and wish you had these? | |
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| Analyzing text data in survey resposnes is very labor intensive, bias prone, and expensive. But, the numeric ratings only tell part of the story. Ratings are a good leading indicator only when associated with the root-cause and driving factors distilled from the response text. If you wish to implement a corrective action plan based on the survey findings, you have to categorize the text responses and map them to your business priorities. | ||
| Insight Magnet offers a commercially viable, quick and the right-sized approach to extracting insights from your survey results. The hosted service is designed for business analysts, who don't need to have advanced degrees in linguistics or statistics. With no pre-requisites or complicated setup required, you can be up and running in no time. See for yourself.... | ||
In your online survey of customer satisfaction, the Net Promoter Score (NPS Score) is a great metric to track the overall satisfaction of your customers. It directly measures the likelihood of customer recommmending your product or service to their friends. It also is the easiest metric to deal with in survey analysis.
Regardless of your methodology to track numeric ratings or recommendation scores, a logical next step for most organizations is to formulate a plan of action to act on the feedback gathered. And that means identifying "what" are the areas that need improvement, "who" has highlighted them as an area of concern and "how" do we go about addressing these issues. The intermediate steps required are to extract the summary from the ratings questions and analyze the open ended survey questions to identify customer complaint areas from the online survey. Survey consultants sometimes will manually comb through thousands of records to connect the Net Promoter Scores (NPS scores) to the survey complaints and give executives a dashboard to refine their action plan. This process of finding out the "why" behind the ratings is often times the most laborious, error prone and expensive.
Insight Magnet is a solution to automate the task of survey analysis and coding of open ended responses. If you have used tools like survey monkey or online survey systems, Insight Magnet can analyze the customer satisfaction surveys and connect the net promoter surveys (NPS Score) to actionable insights that you can use as part of your action plan.