3 Ways to Cut Insights Costs with Artificial Intelligence
The virus puts huge pressure on worlds economy. Most businesses will face unknow challenges. What to do?
Stop any expenditure? Maybe – if you have a liquidity issue. Saving costs – certainly if your budgets had been cut. Hear my personal top 3.
- Replace long item-based CX and Brand Trackers with CX.AI
Still some companies maintain bulky surveys with lots of closed ended questions. Responds rates are decreasing but tracker costs are quite remarkable.
A new research approach now make more from less. All it needs are two simple questions. A rating (on satisfaction or consideration or whatever outcome you track) and an open text field on WHY.
A now automatically categorizes the text feedback in human level quality. A second (causal) AI, then makes sense out of the data and identifies mostly hidden success drivers.
Suddenly a 1-minute survey can reduce cost, level up speed and help the business with crucial insights. Insight that are not descriptive but prescriptive.
- Save Qual-Studies by Merging Qual with Quant in Concept/Idea Testing with CX.AI
When it come to saving costs, insight manager tend to scale down and do qual only. This is actually very dangerous. Qual is an important first stage, but too often it is confused with true empirical evidence. Too often they produces nice stories and explanation that will turn out to be wrong.
The new research approach now enables for the opposite route. Get rid of your qual phase and get your qualitative input thru open-ends. An active listening tool like www.Probe-AI.com puts a digital psychologist into your survey.
With the new approach you get unaided qualitative insights and at the same time you prove out the predictive power of the hypothesis your respondents come up with.
- Reduce Sample Size with Score.AI
If God wants there will be in June the ESOMAR Client Summit in beautiful San Francisco. Dr Jain from Microsoft will present our joint work on the challenge to get more stable CX scores with less data.
Microsoft is leveraging AI to first selectively invite clients only when they are more likely to respond. Second, they use AI the find pattern across the globe to reproduce which CX score are particular area or segment should most probably have.
With this stability of smaller cuts are boosted by large and at the same time the number of sent outs as well as responses can be reduced.
More with less. No magic. Just AI.
Whatever you do to navigate thru this exceptional times. Use the challenge to raise like phenix from the ash after all this turmoil. We’ll do the same.
If you think your phenix will need one of the three approaches to fly better…
…lets talk.
Frank
(write me at Buckler@Success-Drivers.com)