Qualtrics launches AI-driven market intelligence platform

Qualtrics has officially launched a new market intelligence platform, Qualtrics Edge, which is designed to enhance strategic decision-making by combining advanced AI with synthetic insights, market research data and advisory services.

Qualtrics Edge provides organisations with comprehensive visibility into business trends and customer needs by harnessing millions of consumer insights, market trends, and industry benchmarks at a fraction of the traditional time and cost.

The platform features Edge Audiences, which reduces the time required for conducting market research from weeks to minutes and cuts survey costs by up to 70%.

Edge Audiences employs AI to create synthetic panels combining publicly available data with Qualtrics' extensive database of experience data and predictive analytics.

Brad Anderson, Qualtrics President of Products, User Experience, and Engineering, stated: "To remain competitive and relevant today, organisations can no longer rely on traditional market research tools and practices alone. Teams need instant access to insights they can trust and act on, and they need them to come from a range of sources. Qualtrics Edge is a transformative shift in how businesses gather and use customer insights."

"Edge's speed, scalability, and AI-powered intelligence is proven to rapidly help organisations drive success by staying ahead of consumer needs, making smarter decisions, and increasing operational efficiencies."

The introduction of Qualtrics Edge Instant Insights provides companies with immediate access to a repository of competitor insights, industry benchmarks, and consumer trends.

This feature enables organisations to contextualise experience data in relation to their industry landscape and competition, and to act swiftly on insights using AI analytics.

Rahul Sethi, President and Co-founder of NPS Prism by Bain & Company, noted: "With the data and insights from Pulse by NPS Prism integrated into Qualtrics Edge, organisations can quickly and easily benchmark vs. competitors, identify critical points in the customer journey requiring attention, and uncover industry-specific customer experience trends."

"In today's fast-moving world, Qualtrics Edge provides organisations with an instant and significant competitive advantage - enabling them to drive value from their investments in customer experience research."

In additions, AI innovations have been introduced across the Qualtrics platform, utilising tools such as Qualtrics Conversational Feedback and Qualtrics Insights Explorer to improve feedback analysis and the capturing of actionable insights.

These tools can dynamically adapt surveys based on initial responses and simplify the analysis of both structured and unstructured data, enabling organisations to increase resolution rates and drive growth.

The new offerings, currently available to early access subscribers, are expected to be generally available later this year, further enhancing Qualtrics' solutions in customer experience and market research strategy.

The innovations are poised to break new ground in AI-driven market research and strategic insights, providing organisations with tools to rapidly respond to evolving market dynamics and customer expectations.