Medallia, a software-as-a-service customer experience management (CEM) solutions company, has released Medallia Text Analytics, reportedly the first text analytics solution integrated into a CEM application.
Medallia Text Analytics automatically analyzes customer comments collected from online surveys and other sources that would otherwise require significant resources to manually summarize. The solution is also reportedly the first in the industry to allow users to easily distribute analysis results company-wide. Medallia Text Analytics is based on Medallia Impact Index (MII), a proprietary Medallia technology.
The benefits of Medallia Text Analytics include:
- Fully Integrated - Medallia Text Analytics is fully integrated with Medallia's CEM solution. This deep integration enables companies to analyze both numerical scores and text comments and leverage Medallia's rich reporting capabilities. Boosted by MII, Medallia's proprietary technology, the solution automatically identifies and prioritizes the most burning issues so companies can target the highest impact improvement opportunities.
- Distributed -Unlike stand-alone text analytics systems designed to be used by only a few researchers, the Medallia solution facilitates sharing of text analytics reports across entire organizations, from senior managers to frontline employees. The system also provides trending and benchmarking data.
- Easy-to-use - Not only can the system distribute results throughout the organization, but its user interface, which is designed to be intuitive, requires little to no formal training.
- Full Service - Medallia offers text analytics as a full-service solutions package, which includes set-up and maintenance by an experienced professional client services team.
"For years, many companies have struggled to effectively understand text-based customer feedback. Companies that lack text analytics solutions devote significant resources to manually summarizing the feedback-they're engaged in the proverbial search for the needle in the haystack," said Borge Hald, CEO and co-founder of Medallia, in a statement. "Traditional text analytics technology provides a useful tool, but can be difficult to use. particularly for non-researchers who lack specialized analytical skills. Plus, stand-alone text analytics applications are not integrated with CEM systems, making it difficult to look at customer feedback holistically and share results throughout the organization."
Bruce Temkin, a customer experience strategist at The Temkin Group, agrees. "Every company that cares about the voice of the customer will need to use text analytics within the next couple of years," he says. "Not only is there untapped richness in unstructured responses from customers, but open-ended responses from customers can be a very efficient way to garner insight from overly-surveyed customers."
Temkin adds that because Medallia focuses on a "very narrow range of text analytics use cases—those that deal with survey responses," the company differs greatly from traditional text analytics providers. "Other vendors that are focused on text analytics can handle a wider range of data sources and provide a deeper set of analysis of the data," he notes.