Business

Video: How to analyze customer data

Published November 19, 2019·Written by Wonderflow

analyze customer data
Part 1:Why do many companies claim to be customer-centric? What is the best way to utilize your customer feedback and how is your company supposed to collect the data? These and more interesting questions are answered in the first video.

Part 2:Here, we go through the steps needed for an all-around customer feedback analysis.

  • Data handling
  • Data Analysis
  • Reporting

What dangers are hidden in data handling? How easy is it to do your data analysis? Can a report cloud your insights and, by extent, your judgment? Not if you know what you are doing. Watch the second part to learn all about scrappers, NLP and more.

This is a complete guide on how to turn the satisfaction of your customers into actionable insights.If you enjoy this type of videos, subscribe to Riccardo Osti’s channel in YouTube

So the big question here is: how can brands learn more from customers? Simple. They need to read what they say and hear what they tell them. The sum of all these messages from customers is what we call Customer-Feedback. Typical sources of customer feedback are product reviews, customer care records, call logs from the call center, et cetera. Surveys, questionnaires, and focus groups are also customer-feedback, but for several reasons, they are not as good as the messages that are voluntarily generated. You can see why here.

There are four key steps that compose this process, which are:

  • Strategy

We recommend hiring an external company or an experienced consultant to run an assessment, followed by a strategy workshop. This workshop should be for the key decision-making unit of the company, potentially including the CEO, the CMO and so on. I always found it beneficial to have the c-levels understand where the company stands now and consequently aligned on where it should be.

  • Data Handling

 It comprises all the steps, starting from finding where the customer feedback is, to the point where it becomes available to be analyzed. Thinking that this step is simple, it’s the biggest mistake that a brand can make, because every imperfection in this first phase has consequenced throughout the entire process.

  • Analysis

The goal is to have customer feedback processed and interpreted as humans would do, but ideally more consistently, and at scale. This first analysis can be followed by a data enrichment phase, where results are visualized in a comprehensive way, and even used to make predictions about future customers’ behaviors and performance.

  • Reporting

The components of a reporting system usually are a dashboard, an app or an export system that can be connected to internal visualization tools. Having good tools in place is important, as data becomes usable only when correctly visualized.

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A consumer feedback analysis process which is 90% more efficient

How a Global 500 company integrates and analyzes 50.000 monthly customer reviews in one single platform.

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