Experience management company makes major play in artificial intelligence and machine learning as first step toward eliminating the need for CX analysts and data scientists.
Qualtrics, the leader in experience management, announced its predictive intelligence and machine learning engine, Qualtrics iQ . The company, which started 15 years ago as a survey platform, has continued to evolve over time.
Today it is the leader in experience management. By launching Qualtrics iQ and leveraging the power of machine learning and predictive intelligence, Qualtrics is democratising the ability to move from data to insights.
Qualtrics iQ is like IBM’s Watson, processing massive amounts of text in seconds, performing deep statistical analysis, and making predictive recommendations. Unlike Watson, however, iQ is available to everyday CX practitioners, and does not require technical expertise.
Qualtrics iQ is made up of three core components: Stats iQ™, Text iQ™, and Driver iQ™, and has been used by over 200 clients in a pilot launch. Together, the three enable organisations to instantly process millions of response records, including open text feedback fields, and automatically prioritises the most impactful experience drivers by automating advanced correlation and regression analysis.
Qualtrics iQ allows organisations to automatically identify trending topics, statistically validate key drivers, and identify the appropriate statistical tests and models, processing results in easy-to-understand terms.
“Qualtrics Text iQ is easy to use and provides seamless, accurate sentiment analysis, making it easy to surface trends in open text data,” said Jason Averitt, Customer Experience Manager at Allegion. “It helps us prioritise customer experiences, predict their needs, and identify important patterns that help us create the most impactful CX program possible.”
Designed to eliminate time-consuming, manual data processes, Qualtrics iQ eradicates the tasks of sorting through open text feedback, performing complex statistical analyses, and identifying key drivers deep in data. Like the extremely user-friendly Qualtrics XM Platform™, iQ’s drag and drop simplicity make the advanced features easy-to-use so even the newest users can benefit from their power.
The three core components of Qualtrics iQ are:
- Qualtrics Text iQ: Uses natural language processing and machine learning algorithms to analyse open text feedback and surface trends in data. It automatically groups responses by suggesting relevant or related topics, and assigns sentiment scores to individual text comments (positive, negative, neutral or mixed). Text iQ helps identify emerging issues, immediately identifies areas of improvement, and helps monitor improvements over time to drive overall business results.
- Qualtrics Driver iQ: Automatically helps organisations statistically identify key experience drivers deep in their data, and prioritises key driver variables so organisations know where to focus their efforts for the biggest impact. Driver iQ provides real-time filtering so every individual in the organisation knows exactly what the biggest improvement opportunities are specific to their domains.
- Qualtrics Stats iQ: Makes advanced statistical analysis accessible for the average user by providing automated and instant data analysis, all within the Qualtrics Experience Management Platform. There is no need to export the data or massage it in another software to gain insights. Stats iQ automatically chooses the appropriate statistical analyses for your data, then translates the results into plain English. The various advanced data analytics functions include relate, univariate, bivariate, crosstabs, regression, and modeling.
“Qualtrics iQ hunts down experience gaps automatically, predicting what customers want and helping organisations find and address issues before they negatively impact the business,” said Webb Stevens, head of product at Qualtrics. “Machine learning helps automate tasks that were previously time consuming or impossible to scale, like analysing open text feedback or finding key drivers buried in your data.”
In addition to the release of Qualtrics iQ, Qualtrics also announced several new features in its XM Platform, including advanced data processing, response editing, and the ability to streamline the data collection and preparation process. These features can save hours of time when processing large, complex data sets and make Qualtrics the only experience management platform to offer a full spectrum of data collection options from unlimited response weighting to variable creation and from response editing to response-in-progress functionality.
Qualtrics iQ is available now as part of the Qualtrics Experience Management Platform. For more information, please visit www.qualtrics.com/iq/ .
Qualtrics is a single system of record for all experience data, also called X-data™, allowing organisations to manage the four core experiences of business—customer, product, employee and brand experiences—on one platform. Over 8,500 enterprises worldwide, including more than 75 percent of the Fortune 100 and 99 of the top 100 U.S.
business schools rely on Qualtrics. To learn more, and for a free account, please visit www.qualtrics.com .
Category: Customer Relationship Management (CRM) SolutionsCompany profile: Qualtrics is a rapidly growing software-as-a-service company and the leader in experience management. More than 8,500 enterprises worldwide, including more than 75 percent of the Fortune 100 and 99 of the top 100 U.S. business schools, rely on Qualtrics. Our solutions make it easy to measure, prioritise, and optimise the experiences organisations provide across the four core foundations of business: customer, product, employee, and brand experiences. To learn more, and for a free account, please ...
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