As evident for a long time, surveys are important for gaining insight and collecting honest feedback. By analyzing the information collected, companies can improve their operations, make required changes and provide high value to their customers.
However, some challenges with survey analysis are filtering out biased responses, the inability to capture the full range of customer expressions, and data analysis being time-consuming. But fret not! AI is here to the rescue.
Harvard business review’s findings on AI-driven survey analysis
The article “Using AI to Track How Customers Feel — In Real Time” by HBR showcased the benefit of using AI for survey data analysis. They conducted research for which they focused on customers’ responses to open-ended questions as they majorly captured the true feeling of customers.
They applied the Natural language processing-based approach to map and extract keywords from the open-ended questions. They trained their AI to capture specialized vocabulary used by customers and combine their views expressed in their own words with traditional rating scales to obtain deep insights.
They tested their AI tool on longitudinal customer experience data of around 30,000 responses. The result was a success; these insights can directly shape short-term and long-term actions to retain customers.
They observed six key benefits of using AI-based survey analysis
Six key benefits of using AI-based survey analysis
AI can show you what you’re missing – AI-driven qualitative approach can show you what touchpoints you’re missing and how to fix them.
Train your employees based on what’s important to customers – Based on this experiment, they found that employees were inflexible when faced with customers’ complaints. Using this insight when they trained employees on customer experience, it showed increased customer satisfaction and improved retention.
Determine root causes – Companies can use AI-produced insights to glean where there are problems.
Capture customers’ emotional and cognitive responses in real-time – AI analysis allows firms to rethink their current customer experience measurement program.
Spot and prevent decreasing sales – AI firms can segment customers based on their monetary value by using NPS with customers’ emotional responses to spot decreasing sales.
Prioritize actions to improve customer experience – AI can be codified and automated to diagnose data, so companies can see in real-time how particular areas are performing, drill down, and intervene on emerging issues.
Moreover, the other finding which highlights the benefits of AI-based survey analysis which are:-
McKinsey’s global AI survey, which highlights the revenue-increasing impact of AI in
- Marketing and sales
- AI being utilized for pricing
- Likelihood of buying the prediction
- Customer-service analytics
According to McKinsey, these applications have proven to enhance revenue generation.
The survey conducted by Ipsos for the World Economic Forum reveals that a significant majority of adults expect AI-driven products and services to profoundly transform their daily lives within the next 3-5 years.
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Wrapping Up…
AI has emerged as a powerful tool to greatly improve the effectiveness of surveys by overcoming the limitations of survey analysis. HBR experiments show that Implementing an AI-driven model allows firms to monitor real-time customer experiences, generate actionable insights, and deliver smooth experiences. Organizations can proactively adapt customer experiences, drive customer loyalty, and achieve long-term growth using data from various touchpoints.
Surveysparrow’s AI-powered survey creation showcases the potential of AI in optimizing survey results. By leveraging smart survey design, intelligent question routing, NLP, and real-time data analysis, Surveysparrow empowers businesses to create engaging surveys, extract actionable insights, and make data-driven decisions.
With the advancements in AI technology, businesses can maximize the value gained from survey data and gain a competitive advantage in understanding customer sentiments and preferences.
