All businesses today are flooded with unstructured, open end consumer comments. From internet reviews to social media posts and responses to survey questions, a mountain of unstructured text begs for analysis. And the information in these open ends is extremely valuable because these comments are your customers and prospects telling you what is most important to them.

Unfortunately, open-end analysis is difficult, time-consuming and labor intense. Unstructured comments can be chaotic and filled with misspellings, symbols (e.g., "$!#??!"), and just plain nonsense. Cleaning, coding, sorting, and analyzing unstructured text responses can take hours and days that most marketing and research professionals simply do not have.

CX Inspector, now with the power of Theme Extractor and Generative AI, is a significant leap forward in text analysis technology, extracting descriptive actionable insights from open end responses instantly. Load a dataset of any size and in one click charts and tables reveal insights that uncover a comprehensive understanding of customers’ comments. The benefits of CX Inspector with Theme Extractor and Generative AI include:

• Clear and Descriptive Insights Instantly. CX Inspector identifies key themes in the responses, allowing you to grasp the underlying patterns and trends in a matter of minutes. The intuitive interface immediately delivers charts and tables highlighting the themes and visualizing the results. Exporting data tables and charts is a breeze, allowing you to incorporate insights into your reports and presentations seamlessly.
• Clustering Ideas into Groups. CX Inspector can group themes together. This intelligent feature analyzes the data and provides cohesive clusters of insights, enabling you to uncover deep, interconnected patterns that might have otherwise gone unnoticed.
• Dive Deeper Into the Data. Explore the results further by applying filters and sentiment, examining co-occurrences, and generating trend reports and crosstabs with t-tests. And at any point, you can click through a theme to see the individual respondent comments. The platform empowers you to navigate the results quickly, ensuring you understand both the comprehensive insights and a granular view of customer comments.
• Save Time and Labor. With CX Inspector's Theme Extractor with Generative AI, you can extract insights from datasets with unparalleled speed. No longer will you need to spend countless hours manually sifting through data and struggling to identify meaningful patterns. Instead, with a load-to-insights timeframe of minutes, not hours or days, you can quickly load your file and let the powerful CX Inspector process the information, freeing up your valuable time to interpret the results and formulate strategic recommendations.
• Scalable to Any Size Dataset. Whether you're dealing with a handful of responses or a larger dataset, CX Inspector can analyze the data quickly. No need to carve out a sub-set of the data file for analysis hoping it is representative. CX Inspector can analyze it all while maintaining a high level of accuracy and efficiency.
• Multilingual Capabilities. Furthermore, CX Inspector is language-agnostic and handles multiple languages effortlessly. This flexibility allows you to analyze datasets with responses in numerous languages, unlocking insights from diverse markets and customer segments.
• X-Score for Customer Satisfaction Measurement. CX Inspector includes X-Score, Ascribe's proprietary measure which identifies the key drivers that will increase customer satisfaction and loyalty right from the open-end responses. This invaluable information lets you quickly and confidently make data-driven decisions to enhance customer experiences and improve business outcomes.

Simply put, Theme Extractor with Generative AI enables CX Inspector to deliver better insights from open ends faster.

Some companies today have concerns about the security of data processed using tools such as ChatGPT, Open AI, and Generative AI. At Ascribe, customers' privacy and security concerns come first, and customers choose the level of automation and Generative AI for each analysis. Ascribe uses the Microsoft Azure OpenAI environment where your data is not available to other customers and is not used to enhance the OpenAI models, nor any Microsoft or third-party products or services. Additional information can be found at https://learn.microsoft.com/en-us/legal/cognitive-services/openai/data-privacy.

For over 20 years, Ascribe has been innovating with the most advanced AI technologies to make open end analysis easy. Researchers and marketers around the globe have collaborated with us to develop our innovations and they trust Ascribe’s solutions to meet their business needs.

Experience the power of CX Inspector with Theme Extractor and Generative AI today and revolutionize how you uncover insights from open ends. With its user-friendly interface which instantly extracts descriptive theme-based insights from a dataset and visualizes them in charts and tables, CX Inspector’s latest release is a game-changer in text analysis. Your organization's success depends on staying ahead of the curve, and Theme Extractor with Generative AI gives you the key to unlocking untapped insights faster than ever before.

Market research is an indispensable resource for companies to stay in the know of customer needs and market demands. As the competition increase, so does the need to gain valuable customer insights and align with the evolving demand.

Over the years, market research tools have undergone significant upgrades due to technological advancements. Traditional MR, which relied on manual data collection and analysis, was time-consuming and resource intensive. It delayed the process of finding insightful data.

However, the advent of automation has sped up market research. It eliminates the time and resources wasted on manual tasks to help you focus more on extracting meaningful insights. Automated market research tools enable you to gather accurate insights at a much faster pace and affordable rate.

In this blog, we’ll explore the role of automation in market research and its impact in the industry.

What is automation in market research?

Market research automation uses technology to reduce human tasks in the process of gathering market insights. The implementation of automation in market research software enables brands to conduct their own research.

Instead of investing in a research agency and having them run market research for you, you can leverage a self-serve platform to design a survey, collect and analyze data and create reports. In doing so, the research becomes more cost, time, and resource effective.

Automated market research tools allow you to be more involved in the research. Direct involvement enables you to become more productive and actionable in your decision-making.  

Market research software automation means that the end-to-end platform includes functionalities for survey design, sampling, data collection, analysis, and reporting. It can handle full-scope research and provides a DIY platform for you to design a survey based on your research needs.

What role does automation play in market research?

In today’s fast-paced world, companies require timely and accurate insights to respond quickly and effectively to market dynamics. While traditional research methods have been effective in the past, they come with inherent limitations such as limited sample size, higher costs, time-consuming, and potential for bias.

Automation provides a solution for this limitation and streamlines and accelerates market research. Here are some ways that automation in market research accelerates the time to insights.

• Survey routing
• Automated data collection
• Automated data analysis
• Automated reporting.

1. Survey routing -

Automation makes it easier to design surveys that ask relevant questions only. Survey routing helps you navigate respondents through the survey based on their responses to previous questions.

For example, if a participant says they have used the products from Brand A, then they will be directed toward questions asking more about Brand A.

Survey routing/ skip logic enables you to create a complex network of questions with a few clicks. It makes the survey design process much simpler for the researchers and enables you to provide an engaging survey experience to respondents.

2. Automated data collection -

Automated data collection tools help you gather accurate data in real time. It allows you to streamline data from online surveys, mobile apps/websites, social media surveys, and more. The tool gathers a large volume of data from multiple sources in a fraction of the time.

Moreover, using the platform, you can apply automated data cleaning to remove any inconsistencies in the collected data.

Additionally, with end-to-end market research software that gives you access to an online research panel, you can create your own representative sample and automate data collection. Access to the target audience and seamless data collection ensures that you can gather data anytime and on any device across the world.

3. Automated data analysis -

Automated data analysis tools utilize algorithms and ML to automate analysis as data flows into the system. It processes a large amount of data quickly and categorizes it to subject it to statistical or qualitative data analysis.

In the traditional method, you need to upload the data manually, send the file to the data processing team, and review the data to begin the analysis. With market research software automation, you can analyze the data as the research goes on. This expedites the time needed to generate the final report.

Rapid processing and reduction of manual tasks eliminate errors and improve data accuracy and reliability. It facilitates decision-making while also enabling it to iterate analysis if required.

4. Automated reporting -

Report generation in market research encourages discussion of insights and findings. Stakeholders care most about this stage of the research process in order to respond quickly to the insights.

Automated reporting presents data in an interactive format, such as dashboards. The functionality updates the chart with the analysis of new data and enables you to filter through it to showcase particular insights. Additionally, you can share access to the dashboard across the organization.

The automated report reduces the time to design charts and graphs manually and creates visually appealing reports. This ensures consistency and accuracy in the presentation of data. Moreover, it ensures that the reports align with your organization’s branding and reporting guidelines.

Automating these four roles is how market research software can help you accelerate time to insights.

Additional read: 6 market research trends to look out for.

What are the advantages of using automation in market research?

Now that we have listed down the role of automation in market research, we will also look into the benefits of automated market research tools.

• Productivity
• Accuracy and precision
• Accessibility of real-time data
• Agility
• Cost saving

1. Productivity:

When you don’t have to run manual and repetitive tasks, you are bound to become more productive. This is what market research software automation does. Automation gives you the freedom to direct efforts on more innovative pursuits.  

Time is valuable for a researcher, and automated research software can help you keep speed up the research process. Moreover, it enables you to be on pace with the rapidly changing market demands.

You can streamline your research and focus on actionable insights and decision-making.

2. Accuracy and precision:

Automation provides you with insights with higher accuracy and reliability. By eliminating the need for manual data entry, cleaning, analysis, and reporting, you reduce the chance of errors in research findings.

Additionally, automation can boost data precision by ensuring that you gather data on questions relevant to the respondent. By routing participants to questions that resonate with their interests and experience, you ensure data reliability and accuracy.

3.  Accessibility of real-time data:

In this fast-changing market dynamics, you can’t make confident decisions if you don’t have timely data. Automation helps you overcome this challenge by enabling you to launch online surveys on a wide scale and gather and analyze data in real-time.

Real-time dashboard updates analyzed data so you can monitor insights without having to wait for the data collection to end.

4. Agility:

With end-to-end and self-serve market research software, you gain the advantage of agility. You can change questions/ answer options in your survey on your own without needing to inform any middleman.

With the live dashboard, the reporting also becomes more agile. You don’t need to export or send updated files after every analysis. An interactive live dashboard updates automatically, making it easy for you to share reports with stakeholders and keep them updated.

5. Cost saving:

Automated market research tools reduce costs associated with hiring people for data entry and data processing and investing in multiple tools for different research processes. It gives you an end-to-end platform and streamlines workflows resulting in significant cost-saving.

Additional read: How to Choose the Right Market Research Survey Software for Your Business?

What are some misconceptions about market research automation?

Thanks to market research software automation, research that took weeks to complete can now be done in hours. While there are many benefits that contribute to its rising significance, there are some concerns as well.

Here are four common misconceptions about automation in market research that we will address.

• The automated market research tool is difficult to use
• You need many tools to run market research
• The tool doesn’t give control over your sample
• It doesn’t allow room for customization

Let’s dive in!

1. The automated market research tool is difficult to use:

The advent of automated market research tools has made it easy and simple for anyone to design and launch their research. While many users may be apprehensive about using a DIY or self-serve tool, the software is designed to make brands capable of running their own surveys.

Automating many of the repetitive tasks allows you to focus your efforts on idea generation and ensure feedback alignment with the research objective.

2. You need many tools to run market research:

An end-to-end platform like Voxco offers a one-stop platform to perform entire research. Instead of investing in many tools for different purposes like survey design, data collection, analysis, and visualization, you can perform each task within the same platform.

Access to different tools for different purposes in one platform helps speed up each stage of the research process, making it time and cost-effective.

3. The tool doesn’t give control over your sample:

Market research tools with built-in online research panels give you complete control over selecting panelists for your research. Moreover, with methods like encrypted links and duplicate IP checks, you can detect and eliminate survey fraud.

4. It doesn’t allow room for customization

Market research software automation does not mean complete standardization. You can configure any automated market research tool to add your branding as per your brand’s research guidelines.

When should you use market research automation?

While we are towards the end of our blog trying to understand the role of automation in market research, let’s look under which circumstances it is beneficial.

• When running a large-scale survey, automation can streamline the data collection and handle an extensive volume of data for analysis.
• Automated market research can be invaluable for time-sensitive research.
• The tool can be of help when you want to conduct research on your own and be directly involved.
• Automated tools can simplify a longitudinal study. It can automate data collection and updates, track changes, and provide real-time insights.

Wrapping up;

With the evolution of technology, market research will also continue to evolve and adapt. Automation will become significant in helping researchers uncover hidden insights, identify patterns, and generate actionable insights. It will enable you to leverage data to its full potential.

From data collection to reporting, automation provides the advantage of speed, agility, accuracy, and scalability. It helps keep pace with and respond promptly to market dynamics.  

Leading retailers often use price to position their brands against the competition in the market. They reduce the price as they believe this will help them boost the customers’ perceived value of the product. However, they often forget that - Will the customers respond as the brands expect them to?

Customers consider price as a driving factor in their purchase decision. It is as essential as the quality of the product. Price communicates to customers about the value the product brings. A dollar-store cosmetic brand shouldn’t sell its perfume at the same price as a luxury brand. The price would signal a premium product which would lead to the brand losing existing customers while also being unable to compete with high-end brands. How can you determine the best price of your product that customers would be willing to pay and also see value in? Our blog on market research is an answer to this question; Pricing Surveys.

What is a pricing survey?

Pricing surveys help brands, and their product researchers use research methods to determine the best price to sell their products and services. In a pricing survey methodology, you can ask questions to your target customers and gather their insights on the following:

• What do they believe the price should be for the product,
• How much are they willing to pay for it,
• The customers’ perceived value of the product,
• Which features are likely to increase the sale.

A product pricing survey helps you understand your target customers and the optimal price and identify the impactful features of the product. It provides you with the data you need to make informed decisions.  

The data helps you make pricing strategy decisions for the new products and also on any price changes required for the existing product. And when used correctly, it can help you predict the impact of the price on your revenue by gauging the customer’s perception of the price.

What are the four types of pricing surveys?

Customers will never want to pay more if getting the product at a lower price is feasible. So, it’s complicated to decide the right price for the product.

There are four commonly used pricing survey methodologies that help you gain insight into your pricing strategy. Let’s look at these four pricing surveys in detail.

01. Willingness to pay:

Question: “How much would you be willing to pay for [product name]?”

WIP, or willingness to pay, informs you of the price or price range that your target customers would be willing to pay for a particular product/service.

In this pricing survey, you need to offer the product details to the respondent and then ask the WIP question. The question is clear and straightforward and gathers precise data, which is easy to evaluate.

Depending on the research needs, you can ask an open-ended or closed-ended question.

• Use an open-ended question when the customers are generally familiar with the product.
• Use a closed-ended question when your product is unique in the market, and nothing similar exists.

While this question can help you understand how much a customer is willing to pay, it is best not to use it alone. The question doesn’t offer context on how high or low you can set the price before you lose customers.

The following three pricing survey methodology can help determine customers’ willingness to pay.

02. Van Westendorp price sensitivity meter:

Peter Van Westendorp, a Dutch economist, developed a pricing survey methodology, which is known as Van Westendorp Price Sensitivity Meter. This pricing model uses four product pricing survey questions to help you gauge customers’ perception of the product’s value.

Brands use these four pricing survey questions to identify a range of price points that are crucial to the target customers.

Here are the four questions you can use in your pricing survey:

1. At what price would you think [product/service name] is so inexpensive that you would question its quality and now buy it?
2. What price would you consider the [product name] a good value for money?
3. What price would you consider the [product name] too expensive but still buy it?
4. At what price would you consider [product name] too expensive to buy?

When you use the data collected in context to these questions, you can determine the optimal price points. You can also uncover the position price, the acceptable price, and the premium price.

The advantage of using this pricing strategy survey questions is that the questions are easy to respond to, and the data is easy to analyze. Moreover, the model offers the flexibility of identifying a series of price points to help you decide the optimal price that brings the highest profit.

03. Gabor-Granger pricing survey methodology:

The Gabor-Granger pricing method helps you establish the best acceptable price for the product by determining its price flexibility. British economists Andre Gabor and Clive Granger ask the likelihood of purchasing questions at different prices.

Using the data collected from a series of the likelihood of purchasing survey questions you can plot demand and revenue curves to determine the best price that brings maximum revenue.

Let’s see how you can use this type of question.

Question: How likely are you to purchase our subscription package at $350/month?

• Extremely likely

• Very likely

• Somewhat likely

• Not so likely
• Not at all likely

This pricing model requires you to ask the same question at multiple price points. So, use online survey tools that offer the functionality skip logic to ask follow-up questions based on the answer you receive.

For example, start with a price at which you would like to position the product. Now, if the respondent selects any of the bottom three responses, you can ask the same question at a lower price. However, if the respondent selects the top two responses, you can use the top-2-box score analysis.

04. Conjoint analysis:

In this pricing survey methodology, you can effectively evaluate customers’ perception of value for certain features or attributes of the products/services. The conjoint analysis brings the element of real-life shopping experiences in online surveys. It helps you identify which feature has the most impact on customers’ purchase decisions.

This product pricing survey question offers respondents a number of combinations with product features or attributes (including price). The question then asks respondents to choose between the different combinations.

A conjoint analysis pricing survey question may look like this:

Question: If you were shopping for a new smartphone, which would be most appealing to you?

Why is it important to conduct a pricing survey?

The most effective way to determine the appropriate price is to gather feedback from target customers using pricing surveys. Conducting pricing surveys is important in market research for several reasons, including:

1. Optimize pricing strategy:

Gather data on how much customers are willing to pay for your products and services to understand their sensitivity toward the price range. You can use the knowledge to inform and optimize pricing strategies to maximize revenue.

2. Identify opportunities for pricing differentiation:

Using the various pricing survey methodologies mentioned above, you can identify the features or attributes for which customers are willing to pay more. This insight can help you adjust the price, demonstrate value, and remain competitive in the saturated market. You can introduce pricing tiers that offer customers additional features.

What questions to ask in a pricing survey?

Say a survey software vendor uses the pricing survey to determine the proper survey software pricing before launching it as a mobile app.

So, let’s look at these examples of product pricing survey questions:

1. Reading the product details, how much are you willing to pay for [survey software’s name]?

- Understand the perceived value of your product and the price point customers are willing to pay. The question helps you identify the acceptable price point for the product.

2. How do you think the price of [survey software’s name] compares to similar offerings?

- Understand how your competitors position their products in the market and compare the difference. Use the insight to thoroughly analyze what drives the price difference and adjust it accordingly to remain competitive.

3. At what price range would you be more likely to purchase [survey software’s name]?

- Use this question to gain insight into how price-sensitive your target audience is. You can adjust the price to increase sales.

4. What features are you willing to pay more for?

- This question can help you identify features and attributes that would make customers pay more.

5. At what price point would [survey software’s name] be so inexpensive that you would question its quality?

- This question will help identify the lowest price limit or range below which you will lose customers.

Conclusion

Pricing surveys are valuable for businesses looking to make informed pricing strategies for their products/services. Gather data on customers’ perception of the product’s value, their willingness to pay, and the acceptable range of price to remain competitive in the industry.

Pricing surveys can help you understand customers’ purchase behavior and the driving factors impacting purchasing decisions. The insight enables you to build price tiers or decide on positioning prices that will maximize the business profit.

The review website also awarded Voxco badges for “Momentum Leader” and “High Performer Enterprise.”

The Spring 2023 Reports by G2 (the world’s largest and most trusted software marketplace) have been released, and we are proud to announce that Voxco has been recognized as a Leader in the Survey Software category.This recognition is based on the responses of real users for each of the report-related questions featured in the G2 review form. In the report, Voxco has earned the following badges based on reviews gathered from G2's user community and data aggregated from online sources and social networks.

Grid® Report for Survey | Spring 2023

Momentum Grid® Report for Survey | Spring 2023

Enterprise Grid® Report for Survey | Spring 2023

Asia Pacific Regional Grid® Report for Survey | Spring 2023

Asia Regional Grid® Report for Survey | Spring 2023

India Regional Grid® Report for Survey | Spring 2023The Momentum Grid® Report shows the growth trajectory that products have had in their respective spaces over the last year based on user satisfaction scores, employee growth, and digital presence.High scores across multiple categories helped secure our overall performance.Being named a leader by the user-generated review site, which highlights the best-reviewed technology companies every quarter, is a big achievement for Voxco.

"Our recognition by G2 as a market leader is a truly humbling honor and reflection of the trust and outstanding partnerships we have with our customers. We owe this achievement to our dedicated team and thank all our clients and users who generously shared their valuable feedback to help us improve and grow consistently.” Sumit AnejaCEO of Voxco Insights

G2 leaders are measured and determined based on significant customer satisfaction scores and dominating market presence through reviews. Learn more about what real users have to say (or leave your own review) about Voxco on G2’s Voxco review page!

About G2

G2 is the world's largest and most trusted software marketplace. More than 60 million people annually — including employees at all of the FORTUNE 500 — use G2 to make smarter software decisions based on authentic peer reviews. Thousands of software and services companies of all sizes partner with G2 to build their reputation, manage their software spend, and grow their business – including Salesforce, HubSpot, Zoom, and Adobe. To learn more about where you go for software, visit www.g2.com and follow us on Twitter and LinkedIn.

Obtaining crucial information through text analysis about customers and other stakeholders is a requirement for any business to survive in the modern age.

Structured and unstructured data about a company are plentiful, but they are useless unless you can analyze them to gain knowledge for making decisions.

Best text analysis software is useful in this situation. Software for text analysis can extract statistical patterns from raw text data by identifying patterns and trends.

Let's first discover what this software is before getting too far into it

How to define the best text analysis software?

A subset of natural language processing called natural language understanding is used by text analysis programs to help companies evaluate their text data. These analytics solutions utilize text as an input and provide some form of labels, tags, or insights as input due to the unstructured nature of text data.

Businesses are embracing the need to comprehend company data like never before in the age of digital transformation.  Over the past ten years, text analysis software, also known as software for text mining or text analytics software, has become a vital instrument for almost every industry. The requirement to comprehend both organized and unstructured data is a more recent development in analytics and business intelligence.

Text data, for example, can be mined for meaning to guide business choices. Businesses can eventually benefit from a better understanding of textual data sets thanks to text mining initiatives.

Benefits of best text analysis software

Users need to analyze text, which is a fairly obvious reason for using text analysis software. However, there are many reasons why a company might want to perform text mining and analysis. To have an effect on business operations and the bottom line, it all comes down to better understanding and utilizing company data. It should be used to boost output and efficiency and to streamline procedures that could be more effective.

1. Sentiment analysis

Companies constantly seek to measure client satisfaction, and text analytics makes this task simple. Customer sentiments can be found in a variety of text data sources, including social media, emails from customers, phone transcripts, customer evaluations, and more. A business can better support and manage those customers if they are aware of their weaknesses or areas in which they excel. This may ultimately result in higher income.

2. Employee satisfaction

Best text analysis software, like better-knowing customers, can help businesses increase employee engagement and satisfaction. While businesses should not exactly spy on employees, they can use surveys, emails, or phone transcripts to determine employee sentiment and satisfaction. This can assist businesses in ensuring that they are promoting the correct company culture and offering a healthy and happy working environment.

3. Document classification

Classifying documents is a simple application for text analysis software. Businesses frequently need to organize their current documentation; by identifying themes and sentiments, it can be much simpler to group documents like invoices and contracts.

Top attributes to search for in best text analysis software

To discover quantifiable insights and enhance business decisions, organizations should consider the following attributes when choosing the best software for text analysis.

• Interprets unstructured data, including information from emails, chats, social media streams, messages, and reviews.
• Info is sorted based on a pre-set filter. For instance, the classification of immediate support requests.
• Identifies themes in open-ended writings and quantifies comments to gain understanding.
• Analyzes customer feedback to find phrases that are more effective with the intended group.

You can protect data by ensuring that your text analysis program has these capabilities.

The top 7 best text analysis softwares

According to us these are the top 7 softwares for text analysis in 2023;

1. Voxco Insights Platform
2. Monkey Learn
3. Qualtrics XM Discover
4. Chattermill
5. Lexalytics
6. IBM Watson
7. Google Cloud NLP

Softwares

Features

1. Voxco Insights Platform

• An omnichannel insights tool
• Makes use of password management, robust security measures
• You can instantly evaluate millions of texts
• It helps in automatic language recognition
• Interprets text from the data and converts it to machine language

2. Monkey Learn

• Automatically examines text and draws useful conclusions from data
• You can conduct sentiment analysis, keyword extraction, intent categorization, and language detection
• Tags your content using pre-built text analysis models

3. Qualtrics XM Discover

• Uses more than 130 pre-built industry templates  to evaluate unstructured data
• Your customer service chatbots can be enhanced
• Customers' motivations, emotions, and next steps are revealed

4. Chattermill

• Chattermill is a platform for unified customer feedback analytics
• Utilizes sentiment and subject AI to assist in observing how customers feel

• It accepts input from a variety of sources
• It has several pre-configured interfaces and an API for building bespoke ones

5. Lexalytics

• It converts complicated text documents into data and insights
• With NLP intentions, themes, entities, categories, subjects, and multi-layered sentiment scores are all extracted
• The user has the option to customize these models
• Lexalytics can handle text in more than 20 different languages
• Supports a broad range of data sources

6. IBM Watson

• Provides a set of AI tools that extract and categorize data from organized or unstructured text data
• Natural Language Understanding extracts ideas, entities, keywords, and categories
• Developers can build a custom machine-learning model

7. Google Cloud NLP

• Google Cloud NLP as a response to the expanding text analysis trend
• Aids companies in extracting insights from unstructured text and giving it meaning
• It includes entity extraction, syntax analysis, sentiment analysis, and content classification
• You can combine your cloud storage with Google's AI tools to provide a smooth text analysis experience

1. Voxco

Voxco is an omnichannel insights tool. Our robust text analytics software can instantly analyze millions of lines of open text to help you understand the actual attitudes of your customers. The user-friendly layout of our text analytics software makes it simple to use and navigate, giving you a hassle-free and seamless experience.

The best text analysis software from Voxco makes use of password management, robust security measures, and granular access permissions to guarantee that the data of your customers is managed with the utmost care and kept private.

With the help of Voxco's AI-enabled text analytics software, you can instantly evaluate millions of texts to better understand your customers' needs.

Automatic Language Recognition

To analyze customer feedback quicker, interpret text from the data and convert it to machine language.

For quicker consumer feedback analysis, software for text mining interprets text from the data and converts it to machine language.

2. Monkey Learn

A machine learning tool called MonkeyLearn automatically examines text and draws useful conclusions from data. For greater levels of accuracy, you can use pre-trained best text analysis software or make your own by customizing them to your requirements.

You can conduct sentiment analysis, keyword extraction, intent categorization, and language detection using text analysis models, which include text classifiers and text extractors.

With their own WordCloudGenerator, MonkeyLearn welcomes word clouds.

MonkeyLearn automatically tags your content using pre-built text analysis models. You have the option of choosing pre-built models or creating your unique classifications and extractors.

Any data can be used to immediately create a word cloud. It relies on how many categories you are after when it comes to categorizing data.

You can get direct access to your data through important integrations with common applications like Excel, Google Sheets, Zapier, RapidMiner, and Zendesk. It is necessary to pre-clean data before uploading it.

Also read : sentiment analysis tool

3. Qualtrics XM Discover

To evaluate unstructured text data, XM Discover uses more than 130 pre-built industry templates and categorization models. Customers' motivations, emotions, and next steps are revealed by XM Discover.

Your customer service chatbots can be enhanced using XM Discover analytics to better comprehend people. It integrates with other Qualtrics products to provide an all-in-one system that covers data collection, analysis, and implementation.

A wide range of preset models for various industries is available in XM Discover, which employs both rule-based and machine-learning techniques. Specific components can be customized by users to better represent their businesses.

How much time does it take to launch?

It will take a few weeks to get going if your dataset closely fits one of the taxonomies that XM Discover provides. However, a highly customized execution could take up to six months to complete. This usually entails an XM Discover expert working closely with the business stakeholders to develop complex rules to capture topics of interest.

With more than 100 pre-built connectors for different data integrations, XM Discover connects to a variety of feedback and interaction sources. These include chat, social media, surveys, and contact center records.

4.  Chattermill

Chattermill is a platform for unified customer feedback analytics that unifies, measures, and examines your customer feedback. The platform uses theme and sentiment AI to help you see how customers feel, stay on top of new topics, and understand what keeps them coming back.

To find the hidden layers of meaning in your data and determine what influences user experience, use Chattermill's filters. To correctly find and forecast opportunities to increase revenue, brand loyalty, and customer retention across customer touchpoints, analyze the signals in your customers' feedback.

The predefined taxonomies used by Chattermill are centered on typical customer success problems. If necessary, their data staff will adapt the model to your data.

Chattermill accepts input from a variety of sources. It has several pre-configured interfaces and an API for building bespoke ones.

How much time does it take to launch?

It takes at least two weeks to develop the original theme structure, followed by another two weeks to review and improve it.

5. Lexalytics

A conventional text analysis program called Lexalytics converts complicated text documents into data and insights. Intentions, themes, entities, categories, subjects, and multi-layered sentiment scores are all extracted by Lexalytics using NLP. You can see what's being discussed, what individuals are feeling, and why.

The product consists of three major components:

• Salience, their main text analytics and NLP software library designed for data scientists.
• Salience's powers are integrated into the current data analytics infrastructure by Semantria.
• Built on the strength of the Semantria API is Spotlight, the comprehensive Lexalytics solution. Interactive dashboards allow you to share your findings and visualize your outcomes.

For composing summaries, extracting keyphrases (which they refer to as themes), entities (proper nouns), and classifying documents by subjects, Lexalytics has pre-built models available. (e.g. Sports). The user has the option to customize these models, which are available in packs for particular sectors.

Lexalytics can handle text in more than 20 different languages and supports a broad range of data sources.

How much time does it take to launch?

Initial results are available right away, but customization may take weeks if your business is not included in one of the available packs.

6. IBM Watson

Technology behemoth IBM provides a set of AI tools that extract and categorize data from organized or unstructured text data. The IBM Watson Tone Analyzer, Watson Personality Insights, and IBM Watson Natural Language Understanding & Classifier are all helpful tools.

In addition to other things, IBM Watson Natural Language Understanding extracts ideas, entities, keywords, and categories. When used for sentiment analysis, it not only divides the text into the three general categories of positive, negative, and neutral sentiments but also divides these sentiments into specific emotional categories like perplexed, excited, sad, confident, etc.

Developers can assign a classification to text using the IBM Watson Natural Language Classifier without having to be experts in statistical or machine learning algorithms. By uploading their data, developers can build a custom machine-learning model that will classify texts, extract insights, and spot patterns.

7. Google Cloud NLP

Not one to fall behind, Google offers Google Cloud NLP as a response to the expanding text analysis trend. This tool aids companies in extracting insights from unstructured text and giving it meaning.

The text analysis applications that Google Cloud NLP works on include entity extraction, syntax analysis, sentiment analysis, and content classification. All you need to fine-tune your models to your domain-specific keywords, sentiments, subjects, etc., are some training data if you're eager to train your machine-learning models.

One more benefit! You can combine your Cloud Storage with Google's AI tools to provide a smooth text analysis experience.

Conclusion

It can be challenging to find the best text analysis software for your business. Hopefully, our guide will assist you in limiting your options. In the end, the finest software is the one that meets all of your business needs and offers reliable, precise insights.

Frequently Asked Questions (FAQs)

1. Which is the statistical analysis tool used for text content?

An online best text analysis software called Textalyser produces data about your text. With this analysis tool, you can quickly determine the word count, word prominence, phrase density, and word groupings.

2. What program is used for text analysis?

For importing text data and converting it to numeric form for use in machine learning, deep learning, sentiment analysis, and categorization tasks, MATLAB provides a Text Analytics Toolbox. One method of record for the survey, social, text, written, and online feedback is provided by Medallia.

3. Is NLP the same as text analysis?

Text mining (also called text analytics) is an artificial intelligence (AI) technique that uses natural language processing (NLP) to transform  free (unstructured) text in documents and databases into normalized, structured data suitable for analysis or  machine control learning algorithms (ML).

4. Can you do text analysis in Excel?

If you have a lot of data, text mining in Excel can take a lot of time and become very challenging to manage. Thank goodness, there are AI text analytics tools that can detect patterns in your text for you!

Join the network of 500+ happy survey creators.

As a research, marketing, or insights professional, you understand the importance of gathering and analyzing customer feedback contained in sources such as support tickets, social media, survey responses and customer or product review boards . However, finding a quick, easy, and affordable solution for unstructured data analysis in the form of open-end comments or text responses can be a real challenge. Many people are left reading the open-ends to gather insights or trying to code them in Excel.

Ascribe’s new software called CXI Go with Theme Extractor is a simple DIY text analytics solution that uses machine learning and natural language processing (NLP) to extract the top themes from open-ends or text comments, providing you with a simple and affordable solution to analyze customer feedback. With CXI Go you will be analyzing datasets and sharing reports in under an hour.

Load to Insights

The process is simple. After uploading your file of closed end and text data to our text analysis software, charts immediately appear, identifying your top actionable insights from the open-end comments. You'll be able to quickly see what your customers are saying about your product or service, giving you valuable information that you can use to improve your offerings. You can choose which charts give the best visualization of the results and easily export charts and tables to share with others.

Instant Themes

One of the new features of CXI Go is Theme Extractor. This innovative advanced AI technology immediately reveals the top themes from your open-end comments, a big step forward from single-word topics requiring deeper digging. As a result, the charts will reveal more helpful information such as “Lines too long for food,” instead of topics other qualitative text analysis solutions provide such as “Lines”. Theme Extractor is a game changer! It automates the process and makes it easy to see your customers’ most important issues, allowing you to focus on what matters.

Easily Edit your Findings

The results are easily customizable. Themes can be combined and the titles of themes can be manually edited if needed. You can also filter by variables and create crosstabs. This gives you the flexibility to create a report that answers your key questions.

Sentiment Analysis

CXI Go with Theme Extractor also provides sentiment analysis, one of the more popular types of text categorization. You'll be able to visualize positive, neutral, and negative themes, giving you a complete picture of how your customers feel. This information is critical when it comes to data-driven decision making, as it allows you to see how customers are responding to specific aspects of your product or service.

X-Score Satisfaction Measure

Included in the results is X-Score, Ascribe’s proprietary customer experience measure, which combines the sentiment and frequency of topics to identify the key drivers that will increase customer satisfaction and loyalty. X-score creates the measurement directly from open ends, so a satisfaction score can be determined even if the data set did not include a typical question such as “How satisfied were you with your experience?” or “How likely would you be to recommend us to a friend?”

Click Through The Theme to See Individual Responses

Another advantage of CXI Go is that you can click through the theme to see exactly what a person said. This provides a deeper understanding of their comments so you can provide the best customer support possible.

Simple to Use and Affordable

The most significant benefit of CXI Go is that it's simple to use and affordable. There's no manual coding or specialized training needed to use our solution. Tips and guides are provided right on the screen making it very user-friendly. If you have only one dataset to analyze or a few, it’s so easy to do. Just load, analyze, and export charts! It’s available on a project basis, with no contract needed. At $99 per data file load, CXI Go makes advanced artificial intelligence text mining and analytics available and affordable to everyone.

Why wait? Try it with our Free Trial Offer now!

CXI Go with Theme Extractor brings you our latest innovation, a simple yet powerful, DIY text analytics solution that delivers valuable insights from open-ends with minimal effort and at an affordable price. Visit the CX Inspector webpage to learn more or start your free trial now at app.cxigo.com!

Ascribe, the company behind CXI Go has been trusted by businesses for over 20 years to help analyze open-end comments. Our team of experts has a deep understanding of the challenges that businesses face when it comes to gathering and analyzing customer feedback.

Call center agents often rely on cold calling for market research, lead nurturing, or upselling. The agents have to look for customer contact and dial the numbers manually. This results in agents spending most of their time dialing and waiting for customers to receive the call. As a result, it decreases their productivity and declines company growth.

Predictive dialing software can help you boost productivity by reducing the call processing time. The software automates outgoing calls by predicting agents’ availability. The predictive dialer system adjusts the dialing rate based on the time taken by every agent and connects them to customers.

In this article, we will help you evaluate the 10 best predictive dialer software. But before that let’s discuss what a predictive dialing system is and how it works.

What is predictive dialer software?

A predictive dialing software intelligently places outbound calls based on an algorithm. It automatically queues up calls for agents while they are finishing a prior call.

The best feature of the dialer is that it connects your agents to available people, i.e., not busy signals or voicemails. This helps you eliminate contacts from your list that are not in use anymore. This helps increase efficiency as it filters out unanswered phones or voicemails, thus saving agents time.

An automated predictive dialer measures the amount of time an agent spends talking to a prospect to queue the next phone number. The software replaces manual work like physically dialing the number or scrolling through thousands of contacts, etc. By automating the entire process, the dialer helps increase efficiency and productivity.

Predictive dialer tools facilitate a sales campaign and enable sales reps to reach a wide population within a short span of time. However, more and more industries are migrating towards cloud-based dialers to scale their communication. Industries such as financial institutes, market research, debt collections, nonprofit fundraising, and political campaigns leverage predictive dialers to prioritize leads and volumes.

Now that we know what the dialer is, let’s see how it works.

How does the outbound predictive dialer work?

The software develops an algorithm by predicting agent availability. It takes the following factor into consideration to automatically adjust the dialing speed for each agent.  

• The number of agents available in the call center.
• Average call handle time.
• Average abandonment rate.
• The ratio of connected and unconnected calls.
• The number of calls it takes to connect an agent with a real human.
• Average downtime between calls.

While it is in the principle of predictive dialers to be aggressive in dialing, it should also be precise and efficient. The dialer uses these statistics to ensure that not many calls are placed before an agent is available. It often takes some time to connect a potential customer to a live agent, this means the customer hears a long silence, which can lead to an abandoned call. The predictive dialer app uses the data to learn and improve its algorithm to make the best use of an agent’s time.

1. The software dials a call and waits for a real person to respond.  It predicts how many numbers it needs to dial to boost the agent’s productivity.
2. The dialer filters any unanswered calls, busy signals, or answering machines and connects agents with a live audience. Any unanswered calls are automatically set up for redial.
3. The best predictive dialer uses the algorithm, and the collected data on previously attempted calls to predict when an agent is available for the next number. It uses the prediction to set up the dialing speed and dials the next number.

In case when your call center is overburdened, predictive dialer tools reduce the dialing rate or halt an outreach until it detects an agent completing the ongoing call.

List of top 10 predictive dialer software

1. Voxco

Voxco, one of the best predictive dialer software, implements an omnichannel approach to increase your market research efficiency. The dialer is a state-of-the-art telephony system that integrates with Voxco CATI survey software.

Voxco Dialer offers a 4-in-1 dialing solution – predictive, power, preview, and hybrid. Use the dialer dashboard to monitor interviewer productivity and create performance reports.

Voxco’s predictive dialing continually adjusts the dialing pace to match agents’ availability automatically. It works dynamically with the rhythms of your call center to boost productivity.

Voxco dialer is compliant with the highest protocols and uses standard high-performance telephony cards and VoIP licenses. With 25+ years of experience, Voxco offers cloud and on-premise predictive dialer systems.

Features:

• Automated dialing.
• Seamless integration with Voxco CATI.
• On-premise or cloud predictive dialer.
• Extended interview capabilities, such as conference, transfer out, recording, and playback.
• Server virtualization support.
• Live audio/call monitoring and whisper mode.
• Visual customization of interviewer activity status.
• Access to powerful Voxco Dialer Dashboards.

Pros:

• Easily integrate dialer with CATI & IVR phone survey software.
• Built for scale – big or small call centers.
• Set desired balance between productivity & drop rate.  
• Powerful dialer dashboard: Monitor and improve performance with quality assurance features.
• Join mode to allow supervisors to enter a conversation in conference with agent and respondent.
• Works across multi-sites for remote and home agents.
• Reach customers/prospects on landline and mobile devices with Voxco’s TCPA-compliant phone software.

Price: Available on request. Get a pricing quote!

2. Talldesk

Talldesk is a cloud-based call center software. It offers an omnichannel system to help your agents reach customers/prospects via text, social media, etc. Talldesk’s predictive dialer system also offers IVR and complies with DNC rules.

Features:

• Omnichannel contact options include both voice and SMS channels.
• Call recording, monitoring, and transferring.
• Activity dashboard.
• Automatic call distribution and IVR are offered in the lowest pricing model.
• Upload DNC updates via CSV files

Pros:

• The predictive dialer complies with DNC, aka Do Not Call rules
• Create analytics reports for call volume, abandonment rate, and more.
• Access 60+ integrations.

Cons:

• You get a 100% uptime service level agreement only at the Enterprise Level subscription.

Price: Available on request.

[Related read: Top 15 Auto-Dialer Software.]

3. NICE inContact

NICE inContact’s predictive dialer software also implements an omnichannel approach. The company refers to its predictive dialer as the “CXone Personal Connection”.  The CXone dialer eliminates awkward pauses and instead, greets customers/prospects at the first “hello” to keep them from hanging up.

The software allows you to customize campaigns and ensures that your call center complies with contact laws.

Features:

• Greets customers/prospects at first “hello” to eliminate awkward and lengthy pauses.
• Omnichannel contact - IVR, voice, chat, and social media.
• Intelligent call routing.
• Self-service portal.
• VoIP provider.

Pros:

• 99.99% uptime.
• Call recording helps with quality assurance purposes.
• Create custom reports.

Cons:

• Reporting has a steep learning curve.

Price: Available on request

4. Genesys

Genesys Cloud CX Dialer offers multiple dialers, i.e., preview, predictive, and manual dialing. It enables you to route calls through multiple channels, voice, outbound IVR, SMS, emails, etc. As one of the best predictive dialer software, it uses a pacing algorithm that predicts agent availability.

Features:

• Built-in integrated analytics for reporting and monitoring performance.
• Call routing via multiple channels - outbound IVR, SMS, emails, and web pages.
• Customizing pacing algorithms based on the campaigns.
• Preview and manual dialing are available in addition to the predictive dialer.

Pros:

• Skill-based intelligent call routing.
• Custom script for agents.

Cons:

• Call drops.
• AI features are available after the second-tier subscription.
• Difficult to set up call flows.

Price: Genesys Cloud CX1 starts at $75/user/month.

5. ChaseData

ChaseData offers cutting-edge technology for call centers. It offers an all-in-one dialing solution with an outbound predictive diaper system, queued progressive dialer, and a preview dialer.

Features:

• TCPA-compliant predictive dialing rules.
• Complies with PCI DSSS for credit and debit transactions.
• Campaign-specific caller ID.
• Call recording and monitoring.
• Call scripting.

Pros:

• Omnichannel call routing options.
• Complies with HIPAA and HITECH.
• Also, complies with PCI DSS (Payment Card Industry Data Security Standard).

Cons:

• Not user-friendly; it requires lots of training and onboarding help.
• You can only unlock the predictive dialer with a Professional Plan subscription.
• Expensive.

Price: Small Business subscription plan starts at $89/ user/ month

6. CallHub

CallHub offers an automated dialer, power dialer, and preview dialer along with a predictive dialer. It also includes voice broadcasting and text message marketing tools. The software also offers phone number verification, DNC rules, local caller ID, answering machine detection, and more features.

Features:

• VoIP provider.
• Call recording and monitoring.
• Reporting and analytics.
• CRM integrations.
• Built-in voice mail detection.

Pros:

• Clean and easy-to-use interface.
• Complies with DNC rules.
• It supports answering machine detection.

Cons:

• Best software for companies that don’t need predictive dialers.
• Hosting is limited to cloud, SaaS, or web-based.

Price: Starts at 6.9 cents/minute.

7. Convoso

Convoso’s cloud-based predictive dialer software gives you an advanced dialer solution for sales and lead generation teams. With an intuitive interface and customer support, you can easily get agents onboarded.

Convoso offers 5 dialing modes in one auto-dialing system. Choose from the predictive dialer, power dialer, progressive dialer, preview dialer, and voice broadcasting.

Features:

• Caller ID reputation management tools.
• Answering machine detection.
• Smart triggers.
• Workflow dialing.
• Local caller ID.
• Omnichannel communication outreach.
• Customizable dashboard.
• Support TCPA compliance.

Pros:

• Cut wait times for agents between calls.
• Bypass answering machines, busy signals, and unanswered and disconnected calls.
• Manage drop rates and save management time.
• Dial through lists at speed.

Cons:

• Expensive software.
• Not user-friendly.

Price: Starts at $90.00/month.

8. Nextiva

Nextiva is a cloud-based solution that syncs with your CRM to ensure the process is more streamlined. It also offers integration to its VoIP communication solutions. The platform combines multiple communication channels like SMS, chats, surveys, voice, and video,

Features:

• Unified communication with VoIP, video, and chat.
• Access call analytics for historical and live data.
• Alerts and notifications.
• Call recording.
• Call logging.

Pros:

• Executive level telephone service.
• Track agent/team performance and productivity with an analytics platform.

Cons:

• System glitches.
• VoIP platform does not include predictive dialer software.
• Expensive.

Price: Essential plan starts at $14.95/user/month.

9. Five9

Five9, as one the best predictive dialer software, offers predictive dialing and CRM integration. The software enables you to skip busy signals to improve agent performance. It also analyzes calls and improves scripts to ensure better customer engagement. In addition to the predictive dialer, it offers power and preview dialing modes.

Features:

• Intelligent omnichannel routing.
• Unified communication across the enterprise.
• Track and monitor performance with intuitive reporting and analytics.
• Supervisor tools.
• Accounts for time zones.

Pros:

• It is scalable and enables you to add agents immediately.
• User-friendly interface.

Cons:

• Often users find the software crashes in the middle of a call.

Price: Available on request.

10. PhoneBurner

PhoneBurner is a cloud-based Power Dialer and Sales Acceleration platform. The software is easy to set up; connect it to a browser, and you can start managing your account. The predictive dialer tools work with VoIP services or traditional telephone lines. You can use the administrative dashboard to track agent performance and boost productivity.

Features:

• Cloud-based call center.
• Call recording and monitoring.
• Call scheduling.
• List management.
• Reporting and analytics.
• Administrative dashboard.

Pros:

• Automate post-call workflows.
• Real-time call KPI reports and analytics.
• Send emails and SMS based on call results.

Cons:

• Hosting is available only for cloud, SaaS, and web-based.
• Expensive compared to other products with similar features.

Price: $149.00 /mo.

How can you use a predictive dialer system?

Call center predictive dialer is a common tool for most businesses nowadays. They assist in conducting surveys or market research, helping customers solve their problems, upselling, cross-selling, or lead nurturing. So we have put together diverse use cases for predictive dialer systems.

• Customer service: One of the most common uses of dialer is the customer service department. Use the outbound predictive dialer to gather CX or CSAT feedback, and share payment reminders and appointment confirmations.
• Healthcare: Engage patients using a dialer that helps you send reminders or schedule appointments, gather patient information, send medication updates/reminders, and more.
• Sales: Companies can use an outbound predictive dialer to leverage upselling and cross-selling opportunities.
• Banks: Keep the customers alert with bill payment reminders, fraud detection alerts, account balance updates, and more.
• IT: Use the dialer to inform customers of product updates and contract renewals.
• Hospitality: Use the dialer to gather guest satisfaction feedback after their stay in your hotel to understand their expectations and preferences.
• Political campaigns: Use predictive dialers to reach voters, gather their options on various matters, and identify potential supporters.

Conclusion

This concludes our list of best predictive dialer software. For outbound call centers, predictive dialers are the best choice. These dialers automate outbound calls and increase agent efficiency.

For businesses where leads and call volume are the priority, predictive dialer tools offer the best advantage with their plethora of cutting-edge features, speed, scalability, reliability, and accuracy.

This article should help you evaluate your choice. If you haven’t made a choice, it should guide you to understand what to look for in your predictive dialer. If you want to know what more Voxco offers, connect with our expert today.

FAQs on predictive dialer software

Q1. What does a predictive dialer system do?

The dialer uses an algorithm to automatically place outbound calls while the agent is wrapping up the last call. The software removes manual dialing and filters out busy signals and voicemails to reduce downtime and increase efficiency.

Q2. What is a power dialer Vs. a predictive dialer?

Here are some ways to differentiate between power dialer Vs. predictive dialer:

1. Power dialer does not use algorithms to dial numbers. It dials one number after another in sequence for each available agent.
   A predictive dialer uses an algorithm to dial the next no. based on several factors, like avg. handle time, agent availability, etc.
2. A power dialer dials the next number only after an agent completes their call.
   Whereas, a predictive dialer queues the next number before the agent finishes the call thus reducing downtime.
3. Power dialer connects the agent before the customer answers the call. This means the customer hears your agent right when they answer it.
   Predictive dialer software connects an agent when a caller answers the call. This means the customer may hear an awkward silence or a ringing tone.

Q3. How can you host a predictive dialer system?

Predictive dialers can be hosted on the cloud or on-site. Large corporations often host predictive dialers on their company server.

Q4. What kind of calls do predictive dialers make?

Predictive dialer software automatically makes outbound calls. So the software has no functionality for receiving calls.

Q5.What are the benefits of predictive dialer tools?

Outbound predictive dialer accelerates phone calling and facilitates the process of engaging the target audience. The best predictive dialer helps you gear up with scaling communication in today’s hyper-connected world. Here are some benefits of a predictive dialer.

1. Increasing productivity with higher call connectivity:

Using the algorithms, the predictive dialer determines the call duration and screens answering machines to assign connected calls to specific agents. It also detects the ratio of connected and unconnected calls and works around it to ensure agents only connect with a live audience.

2. Boosting agent efficiency:

One of the benefits of predictive dialer tools is that it automatically dials the next number and controls the dialing speed, which contributes to boosting an agent’s efficiency.  

3. Higher survey completion rate:

The outbound predictive dialer ensures that you don’t have to wait for busy signals, an answering machine, or incorrect numbers. Intelligence call routing and the lack of manual work means you can focus on engaging the audience for their feedback.

4. Lower operational costs:

The dialer eliminates the idle time and lowers call abandonment rates which reduces the cost of the voice channel. Less manual work, lower human error, and less downtime mean you need fewer agents to handle the call volume.

5. Scaling workforce according to business needs:

You can’t list down the benefits of the best predictive dialers without talking about scalability. More and more companies are migrating to cloud-based predictive dialing software as it allows them the flexibility and agility of adjusting the software to their business needs.

6. Improving compliance:

The benefit of predictive dialers is that it lets you cross-reference do-not-call (DNC) lists and filter them to help you comply with complex and changing regulations.

How do you set up a predictive dialer app?

Here’s a brief instruction on how you can set up predictive dialer tools.

Select a predictive dialer app provider: Find the best predictive dialer that offers cutting-edge technology, is scalable, offers round-the-clock support, and fits your budget.

Set up your app: Now that you have software that meets your needs, here are simple ways to set up your predictive dialer app.

1. Import contact lists or integrate the predictive dialer tool with your CRM.
2. Add a survey or call script to the software.
3. Set up your campaign.
4. Adjust the dialing setting based on the campaign needs.

Train your agents: Once you have set up your dialer, train your agents on how to use it.

Monitor campaigns: Don’t forget to keep on monitoring the progress of the campaign and the call quality.

How does the predictive dialers app boost sales?

There are many ways that a predictive dialer app boosts your sales outcome. Here are some of those ways:

Increased call connectivity: The dialer dials multiple numbers simultaneously, resulting in higher call connectivity. This leads to faster campaign completion and higher sales volume.

Increased productivity: Agents can focus on the campaign and offer products/services customers need instead of having to focus on dialing the next number and waiting for it to connect.

ACD: Automatic call distribution routes calls to available agents and thus reduces wait times. This helps improve customer satisfaction and agent efficiency.

What are the limitations of predictive dialers software?

With so many benefits of predictive dialer tools, there are a few limitations as well. Some of these limitations include the following:

Call drops: Predictive dialer dials a customer before an agent is available, this leads to awkward pauses. This often results in call drops and frustrated customers.

Compliance issues: Predictive dialer providers must comply with TCPA and GDPR. It’s important to ensure that your provider complies with these regulations.

Digital advancement is changing how researchers and businesses leverage data to keep-up operational efficiency.

Before the impact of COVID, businesses were adopting a digital research approach at a steady pace.

However, with COVID, digital adoption has accelerated. The pandemic protocols have created a shift in customers’ priorities and needs. It has become more challenging to target them with accurate business strategies.

The dynamic shift in the market landscape has changed the business.

Many organizations have realized the need for online research to catch up with the inconsistent change in customer sentiment. Marketers understand the need for agility, but they don’t know how to shift effectively.

Although it is not something new, ResTech, is the new path for research.

What is ResTech?

ResTech, a term used for Research Technology, is a research arsenal. It describes the software, tools, and technologies used to analyze data and draw insights.

Previously, the technology used for the research market was a programmatic connection between systems. But ResTech includes all technologies and tools that have led to an innovated research industry.

Be it SaaS or on-premise hosting, the technology provides you the option to have complete control over your research. It includes AI (conversation and visualization) and text analysis, which automates – fully or partially – the entire process.

ResTech is the innovation that automates every small or big previously manual task. It saves company resources and time.

Some examples of emerging ResTech solutions are:

Evolved Group: The platform introduces advanced chat and text Analytics in its conversational AI. They intend to replace traditional surveys with engaging and realistic conversations.

Pureprofile: The platform empowers brands with its Audience Intelligence SaaS platform. The technology leverages real transaction data, which can help a brand learn about a customer’s purchase habits.

Characteristics of ResTech:

• ResTech is the insight industry that empowers various platforms to research a higher volume but at a lower rate. Without compromising the validity of insight.
• You gather data that is relevant for the “NOW.”
• ResTech provides an agile solution for researchers. It empowers them to pull out specific data to understand customers better. Using the tools, they can draw out the insights with precision to identify the shifts in customer sentiments. It helps them to create a more targeted strategy to entice their audience.
• The innovation helps bring market researchers closer to knowing and understanding their customers. The feature of a live dashboard empowers a researcher with data updated and analyzed in real-time.
• ResTech takes care of unnecessary manual handling of data. It automates the data collecting, cleaning, and analyzing processes. Thus, it reduces redundant workload.  

ResTech causing transformation in Market Research

We have seen the market research industry moving from knocking on the door carrying a questionnaire, calling every telephone number to online surveys found in the middle of your game. With the introduction of technology in these eras, researchers have realized how it has progressively become easier to match the demand – data and customers.

While previously, only large-scale businesses could afford to gather data in large volume using an online survey platform. Now ResTech has made data more accessible and affordable for small businesses.

The demand for data is increasing to make data-driven decisions. The assets ResTech proudly stands on are its speed, transparency, and data quality. The new technology allows researchers to execute surveys on any scale without needing any big research industry.

ResTech has disrupted the way traditional research takes place. The intertwining of research and technology is making it more seamless and efficient. It has caused a massive evolution in market research.

‍

Why is ResTech Industry thriving?

Agile insights:

Businesses need real-time insights to plan out data-driven decisions. Traditional market research cannot help produce real-time insight.

ResTech delivers dynamic insights in real-time for businesses to adapt to the dynamic market environment.

The technology can deliver the insights directly to the companies in need. It is a research method founded on the capability of technology. It helps organizations to become more flexible to the changes.

Access to the digital audience:

COVID protocols have made it challenging to meet our friends and families. It has become even more challenging for businesses relying on traditional customer research. Focus groups and Face-to-Face interviews have started to decline.

ResTech provides the solution for this issue as well. Companies have shifted their focus on gathering qualitative and quantitative data digitally. ResTech, with its advanced software, is empowering such businesses by giving them access to an online audience (or panel members).

Access to an online audience provides a cost-effective alternative to the business. As a result, you can survey the audience that meets your target audience. With a vast pool of pre-qualified audiences, You can get insights without having to think about “social distance” in this new normal.

ResTech in Qualitative Research

Qualitative researchers have always considered technology as a barrier to gathering in-depth insights. Many believe that technology cannot understand human insight or tell the story after translating data points.

However, the introduction of ResTech is making it less challenging. Gathering qualitative feedback from customers and analyzing it for insight-driven business has become more coherent and economical.

Comprehensive:

ResTech provides tools like text analytics that allow you to evaluate and interpret qualitative feedback comprehensively in a few seconds.

Instead of an analyst going through each feedback, you can take advantage of ResTech to derive recurring patterns and themes in the qualitative feedback.

Moreover, you can prep the data better before analysis to better understand the qualitative data with tools like data cleaning.

Efficient:

Survey takers don’t think about the difficulty you have to go through when analyzing their feedback. They provide you with their thought without restrictions. However, qualitative analysis can get challenging.

Moreover, if you go about it traditionally, i.e., without technology, it will take forever for you to reach a conclusion. By that time, customers would have changed their minds.

ResTech makes qualitative analysis more efficient. By delivering you insight as soon as the data comes, you stay updated with your customer’s sentiment. It allows you to prepare your future actions while deep diving into customer feedback.

Less biased:

Humans are more biased. Often without intention, qualitative researchers get influenced by the feedbacks they see early in the analysis. It is easier for the research to be impacted by this and skew the analysis.

Technology cannot be biased. There are lesser odds of skewing the research due to biased analysis. Moreover, ResTech helps identify interesting patterns and trends that you may not figure out.

ResTech enables ethically sourced data

Global privacy law like Europe’s GDPR, California’s CCPA has posed challenges for companies to collect customer data via online sources.

For a long time, companies have relied on web cookies to keep track of web users’ activities to compose targeted marketing agendas. However, web browsers are now restricting the use of cookies for the protection of customer privacy.

Although, data collection done by companies is not a danger to the customers. Web users need a certain amount of control over who and how companies can access personal data.

ResTech provides solutions to meet the privacy practices and successfully gather required data for companies who need it. Modern research technology ensures transparency in the acquisition of data.

ResTech gathers ethically sourced data. It relies on collecting only content-based consumer data. The platform helps companies reach out to the consumers who have consented to participate in surveys or research.

That being the case, instead of relying on cookies or risking any breach of the privacy policy, companies can use ResTech to seek insights by directly asking the audience.

To Conclude

Billions of dollars are spent globally on research. Very few successfully generate value. And, few can keep up with the demand of customers.

ResTech is evolving the way research is done in this growing industry.

From gathering HIGH-QUALITY DATA – to ANALYZING – to DECISION MAKING – ResTech can automate anything and everything to help you stand out in the competition.

FAQ

What is ResTech?

ResTech is used to define Research Technology. It describes the software, tools, and technologies used to analyze data and draw insights.

What are the advantages of ResTech?

• ResTech is the insight industry that empowers various platforms to conduct research, ensuring the data’s authenticity.
• ResTech provides dynamic insights in real-time for businesses to adapt to the dynamic market environment.
• It offers a vast pool of pre-qualified online audiences to help businesses conduct online surveys and gather data from respondents who resemble the target market.