Research Insighter Video: Text Analytics with Jiffy Lube & OdinText
Amy Raihill, the insights manager at Jiffy Lube, and Tom Anderson, founder and CEO of Anderson Analytics and OdinText, discuss a case study of the customer satisfaction surveys from franchised Jiffy Lube stores in this episode of TMREtv's Research Insighter brought to you by the Market Research Event (TMRE).
Understanding and Utilizing:
Raihill discusses the success of the surveys at the local level and the under utilization of the data on a national level. She discusses the marriage of several systems of data and the predictive capabilities that can result in a better bottom line, how text data is tied with actual behavior of consumers can really help drive business impact.
Text Data vs. Social Media Data:
Anderson explains the over emphasis of social media and all the money used to fund it. He also mentions that most companies don't even bother doing open-ended survey questions because of the hassle of dealing with all of the data. The reality is that listening to what customers have to say and responding is what companies should be doing. Raihill says that if companies miss what customers are saying then you miss the between the lines concept.
What Is the Next Step?:
According to Anderson the next step is predictive analytics. Exploration and tracking are a priority but the findings can then be put back into the program and the models can be put in real time to predict sales based on customers are saying. Anderson and Raihill both conclude by saying it is a shame that most companies are wasting their data by letting it sit and gather dust.
We recommend you watch it!
About the Author:
Ryan Polachi is a contributing
writer concentrating his focus on Marketing, Finance and Innovation. He
can be reached at rpolachi@IIRUSA.com.
