Experience management company Qualtrics has announced its predictive intelligence and machine learning engine, Qualtrics iQ.
Qualtrics says the software is capable of processing massive amounts of text in seconds, performing deep statistical analysis, and making predictive recommendations and is available to everyday customer experience (CX) practitioners, without the need for technical expertise.
The company says this is the first step in eliminating the need for customer experience analysts and data scientists.
Qualtrics say the tools will allow 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 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, these components reportedly enable organisations to instantly process millions of response records, including open text feedback fields, prioritising experience drivers by automating advanced correlation and regression analysis.
“Qualtrics Text iQ is easy to use and provides seamless, accurate sentiment analysis, making it easy to surface trends in open text data,” says Jason Averitt, Allegion Customer Experience Manager.
“It helps us prioritise customer experiences, predict their needs, and identify important patterns that help us create the most impactful CX program possible.”
Qualtrics iQ is designed to eliminate manual data processes, and the need to sort through open text feedback by performing complex statistical analyses, and identifying key drivers deep in data.
They say iQ’s drag and drop simplicity make the advanced features easy-to-use, with new and experienced users both benefiting from it’s power.
Webb Stevens, Qualtrics head of product says, “Qualtrics iQ hunts down experience gaps automatically, predicting what customers want and helping organisations find and address issues before they negatively impact the business.
“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 has 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.
The company says 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.