As you know, social media has exploded over the last decade and many companies have learned the trick to getting customer data through the social networks. If your company is one who hasn’t quite caught up to speed on social networking, then here are some helpful tips. Continue reading
Market research is crucial to your business. You need to know things about your customers in order to target them and keep them returning. Three questions to ask yourself include: “Who is my customer? What do they want?” and “Why did they buy my product?” Here are some tips to fully benefit from market research. Continue reading
If you are looking for a complete and user friendly data analysis tool, you should consider PAI’s mTAB. We have developed and perfected the mTAB program to provide ease of use while analyzing large and complex datasets so you can make informed decisions quickly to increase the success of your business. Continue reading
mTAB Survey Analysis services proudly supported the Clemson University Deep Orange 3 vehicle prototype unveiled at last week’s SEMA show.
The Deep Orange program runs the course of two academic years in parallel with Clemson’s two-year masters program in automotive engineering. The program provides students with experience in financial and market analysis, vehicle design, development, prototyping and production planning, and gives them an opportunity to work with automotive industry partners to develop ideas. Continue reading
Maritz Research partners with veteran software provider to dive deeper into data.
St. Louis (PRWEB) October 31, 2012
Maritz Research today announced the release of Capella Tabulation, the newest addition to Capella™, Maritz’ end-to-end customer experience management system. In partnership with veteran analytic software provider Productive Access, Inc. (PAI), Capella Tabulation allows the end user to dive into their customer experience metrics by providing custom queries, unlimited variable selection with unmatched flexibility and speed in computation. Continue reading
Latent variables correspond to real current physical aspects. For example, when a store determines where to place products on shelves next to other products that were observed to be bought together by most customers, this can be considered latent variables within survey data. Continue reading
Factor analysis is what every business needs to get the most from their operation. Examining statistics allows you to dissect variables such as demographics and target consumers. By breaking down the key factors, you can tweak processes to create the most effective channels and strategies. Put simply, factor analysis takes the guesswork out of budgeting, advertising and even staffing. It is a practical tool created through successful market research and analysis in any industry. Continue reading
Recently Maritz Research conducted a cross industry survey of customer satisfaction. Industries surveyed ranged from banks and credit cards to insurance claims; restaurants, wireless and Internet to Television services. In the auto industry, contrary to popular belief, the report showed that customer service is above average as related to their experience when purchasing a vehicle and/or having their vehicle serviced by the dealer. According to the report, 3 out of 4 customers reported their experience as satisfied to extremely satisfied.
Why does this matter?
The automotive industry has used mTab for the past fifteen years to improve their customer service experience by receiving feedback and data related to customer transactions. Over the years the data analyzed through mTab was used to identify problems and provide a business justification for change.
The Automotive Sales Experience
When purchasing an automobile, the report showed, 75.6% of respondents were satisfied to extremely satisfied with the vehicle delivery process and with the experience that the auto dealer kept its promises. The lowest rating, 65.4%, came from customer experiences with the financing and paperwork. Because automotive dealers, continued the report, are not satisfied with simply being above average, the information gathered from the report can be used to improve the weakest areas of the customer purchase experience.
The Automotive Service Experience
Shattering preconceived notions about auto dealer repair services this area accomplished an even higher rating than the sales experience. With an average rating of 75.48%, with an impressive 77.5% indicating they were satisfied with the quality of the repair and that the vehicle was fixed the first time. Basically, 3 out 4 customers were satisfied that the dealer was honest in its dealings with the customer. The lowest rating, 70.3% had to do with the time to complete the repair or service.
Why is the automotive dealership industry above average?
In part because they decided 15 years ago to pay attention. The tool they chose to do that with is mTab. Because of its sophisticated engine and ability to analyze and present viable research data in easy to read and fully customizable formats, mTab was an essential element to their success.
What to take away from the survey? Dealerships appear to keep their word and remain honest. For the past fifteen years these qualities were tracked and reinforced throughout the industry in large part by the data analyzed and presented by mTab suite of software analysis and presentation products.
The TMRE 2011 conference wrapped up late Wednesday afternoon. Several attendees were actively tweeting to the #TMRE hashtag which many of us followed during the event.
Last evening I sat down with @dwiggen’s twapperkeeper archive to pull an RSS feed of the #TMRE for analysis. The feed as of last evening covered tweets to #TMRE from 11am Monday through 11pm Wednesday (event time). In total, 2710 tweets were captured; 513 Monday, 1,340 Tuesday and 817 tweets on Wednesday.
As shown on the accompanying graphic, the popular “tweeting times” were the 9am and 11am hours on Tuesday and Wednesday in sync with the excitement surrounding the keynote sessions. Peak tweeting volume occurring at 11am on Tuesday.
Sure, there’s a tag cloud …
The tag cloud graphic below was created using Wordle after parsing the feed to remove sender, hashtags, URLs, and stop words. Retweets were included within the analysis in an attempt to lend additional weighting to the tags. Just over 36% of total tweets were RTs.
“Most Prolific Tweeter” goes to …
Excluding event host TMRE, InsightsGal took the honors and was also retweeted most frequently in total, but notably VirtualMR was retweeted more frequently as a percentage of VirtualMR’s total tweets.
The two most frequently occurring RTs shared the concept of thoughtful interpretation of your survey research analysis:
- Outsource process, but never outsource thinking. -Stan Sthanunathan of Coke
- You can’t have breakthrough insights with people who all think the exact same way.
Taking the analysis a step further, we used an algorithm to select a small subset of tweets that are representative of the entire #TMRE tweet stream. The algorithm scores tweets based upon their weighted tag values after adjusting for tweet length. This resultant “tweet brief” provides a quick flavoring of the prominent themes within the overall #TMRE tweet stream:
- rachel_bell44: If you don’t like change you’ll like irrelevance a whole lot less! – Heiko Schafer Henkel/Dial Corp
- eswayne: #TMRE a lot of people ascribe Coca-Cola’s success to a TV spot, but the real power is the communities of people surrounding the brand.
- MattIIRUSA: RT @Ali_Saland: Ask yourself, how have u made it simple 4 the brain 2 process? What have u done 2 make the consumer feel better by buying ur product
- mg_hoban: TMRE=Take More Risks, Everyone! RT “@LoveStats: TMRE=t-tests manovas regressions experiments”
- CandiceSeiger: RT @klonnie: #TMRE social media Anthony Barton@Intel small amount of research paranoia over SM/time to insights is far shorter with SM
I hope you enjoyed this summary. If you attended the conference this week, I would expect that you’ll see familiar concepts captured within the tag cloud and representative tweet content.
If you’d like to see the data cut another way, I’d encourage your feedback, or contact me to discuss how we could apply this form of discovery to the results of your next survey project.
Corporations rely on dashboards, which have become the defacto tool for monitoring all aspects of the business enterprise. This includes critical consumer insights metrics such as net promoter score and customer satisfaction, which are normally derived from survey programs. While dashboards are convenient and easy to read, they are not a replacement for a market research analyst’s “deep dive” understanding of the survey results.
Dashboards offer limited drill down functionality by presenting a closed end list of pre-wired data classifications, such as the region / district / zone roll up or heavy / medium / light users, of a product or service. Ultimately the dashboard service allows you to view the data in any way that the closed end “box” permits.
As a consequence, dashboards offer a very convenient, easy to use and graphically pleasing “30,000 foot” view of survey program results.
While dashboards allow senior management to observe at a glance that the train hasn’t derailed, they’re not capable of revealing new insights and greater understanding of the data.
As research professionals, we’re tasked with taking a harder look at the results of our survey programs. We’re responsible for providing the insight and discovery that cannot be obtained through dashboard tools. We need to know how to ask meaningful questions of our survey results, and to have the tools on hand to easily and conveniently obtain the answers to our questions.
Who is going to tell management “why” the train derailed after it’s reported by the dashboard?
It is our job, as research professionals, to continually remind senior management of our value proposition by providing the insight and understanding that is buried within our survey program results, which can only be obtained by “swimming with the data” via the drill down process.
If you would like to learn more about the process of analyzing your survey results, please call on us to help you get started.