Business analytics of customer feedback – 10 secrets

Business analytics of customer feedback is crucial for marketing and e-commerce to understand customer needs, preferences, and satisfaction levels. Here are some methods commonly used:

1. Surveys: Online surveys via email or embedded on websites can collect structured feedback from customers. Tools like SurveyMonkey, Google Forms, or Typeform are commonly used for this purpose.
2. Feedback Forms: These can be integrated into the checkout process or on specific product pages to gather feedback about the purchasing experience or product satisfaction.
3. Social Media Monitoring: Monitor social media platforms for mentions of your brand or products. Analyze comments, messages, and reviews to understand customer sentiment and identify areas for improvement.
4. Customer Reviews: Encourage customers to leave reviews on your website or third-party review platforms like Yelp, Google Reviews, or Trustpilot. Analyzing these reviews provides valuable insights into customer satisfaction and areas for improvement.
5. Net Promoter Score (NPS) Surveys: NPS surveys measure customer loyalty by asking customers how likely they are to recommend your product or service to others. It’s a simple yet effective way to gauge overall customer satisfaction.
6. User Testing: Conduct usability testing with real customers to observe how they interact with your website or app. This can uncover usability issues and areas for improvement in the user experience.
7. Focus Groups: Gather a small group of customers for in-depth discussions about your products, services, or marketing strategies. This qualitative method can provide deeper insights into customer perceptions and preferences.
8. Live Chat Transcripts: Analyze transcripts from live chat interactions with customers to identify common issues or pain points they experience during the purchasing process.
9. Email and Support Ticket Analysis: Analyze email inquiries and support tickets to identify recurring problems or areas where customers are seeking assistance.
10. Customer Interviews: Conduct one-on-one interviews with a sample of customers to delve deeper into their experiences, needs, and pain points.

By utilizing a combination of these methods, businesses can gather comprehensive feedback from customers to inform marketing strategies, improve products or services, and enhance the overall customer experience in e-commerce.

Business analytics for customer feedback

Business analytics wykorzystuje systematyczne podejście do rozwiazywania problemów powiązanych w feedbackiem od klientów, które można przedstawić w następujących punktach-zasadach:

1. Określ cel (objective) lub problem (problem) do którego podchodzisz poprzez daną analizę biznesową – o co caman?
2. Zdefiniuj wskaźniki celu (zmienne zależne, y-ki) oraz zmienne niezależne X.
3. Określ wstępnie hipotezy i orientacyjne zależności do weryfikacji y=f(X)
4. Zgromadź dane z wiarygodnych źródeł
5. Zorganizuj dane, aby dało się je analizować w określonym kierunku i kontekście
6. Wykonaj robocze wizualizacje, aby doprecyzować hipotezy i zależności
7. Wykorzystaj statystykę i inne techniki do analizy danych
8. Przygotuj komunikację analizy i wyników

Customer Feedback Matrics

CFM’s in-terms

• (1) relevancy address pending actions,
• (2) Predictability causes that future outcome can be predicted accurately,
• (3) objectivity is supported by quantitative procedures,
• (4) reliable demonstrates stable attributes over time,
• (5) Simplicity provides results which can be interpreted easily, and
• (6) transparent which is open to independent audit.

Top 2 Box score in customer feedback analytics

Top 2 Box score is a survey analysis technique that lets you highlight key values in an easily digestible way. A Top 2 Box score, sometimes called T2B is a way of summarizing the positive responses from a Likert scale survey question. It combines the highest two responses of the scale to create a single number. 

In case of this topic, 42+35=77% of people buy chocolate or cosmetics for valentine days. That is exact summarry also presented by Statista: More than 70 percent of respondents in Poland declared that they would celebrate Valentine’s Day in 2023. The most common gifts purchased were chocolates. On the other hand, 14 percent of Poles did not buy any gifts for Valentine’s Day. (Most purchased gifts for Valentine’s Day in Poland 2023 Published by Adriana Sas, Feb 10, 2023)

Riding the blockchain mania

An 8-K report or Form 8K is a report of unscheduled material, events or corporate changes at a company that could be important to the shareholders or the Securities and Exchange Commission (SEC). The report notifies the public of events, including acquisitions, bankruptcy, the resignation of directors, or changes in the fiscal year.

In January 2018, the SEC chairman, Jay Clayton, highlighted a growing trend of
Blockchain disclosures from public firms with no meaningful record of accomplishment in Blockchain technology. In particular, the SEC is concerned that public firms simply state that they “start to dabble in Blockchain activities” or that they change their names to something like “Blockchain R-Us” to hype up the stock price or to gain access to capital (SEC 2018a). Forbes in 2018 warns investors that while some firms are “investing in and developing Blockchain technology,” others are “unwarrantedly” mentioning “blockchain” as a buzzword to generate a stock price spike.