Report: Text Analytics Reshapes VoC Programs
May 13, 2014 1 Comment
We just published a Temkin Group report, Text Analytics Reshapes VoC Programs. The research shows how analysis of unstructured data will disrupt how companies collect and use customer insights. Here’s the executive summary:
Although companies today are investing more resources in their voice of the customer (VoC) programs, a majority of these efforts continue to linger in the early stages of maturity. Unlike many of the less mature VoC programs, which primarily concentrate on reporting metrics from multiple-choice surveys, the more advanced VoC programs focus instead on finding valuable insights to drive business improvements. To get these valuable insights, our research shows that mature VoC programs are actively using text analytics to efficiently process their massive volumes of customer feedback. As its use becomes more widespread, we expect to see companies infuse text analytics across what we call the 6 Ds of VoC Programs: Detect, Disseminate, Diagnose, Discuss, Design, and Deploy. This report identifies 33 best practices enabled by text analytics tools. And as companies can’t revamp their VoC programs with text analytics overnight, we outline the four stages of text analytics evolution: Deploy, Explore, Explain, and Predict.
You may also want to see the report Case Studies in Text Analytics.
The report identifies best practices for using text analytics across the 6 Ds of a VoC Program:
- Detect: Companies will shift from primarily focusing on “the score” to concentrating more on unstructured feedback.
- Disseminate: Companies will distribute more informative data to both front-line and top-level managers in real time, which in turn will drive more meaningful actions.
- Diagnose: Companies will shift from analyzing only one or two top activities to focusing on a continuous web of experience improvements and training.
- Discuss: VoC insights discussions will evolve from VoC teams only communicating reports one-way to an active discussion of insights and action planning.
- Design: Customer insights will become more accessible, more reliable, and more comprehensive, which means that designers will rely more heavily upon customer insights during the design phases.
- Deploy: Deployment of new offerings will involve a rapid refinement process driven by customer insights.
The bottom line: Text analytics will reshape leading VoC programs