Prediction 4: 2024 Feedback Analysis Will Become Must

Understanding survey analysis is important for social organizations. It helps shape their plans in today's world, which is all about data. But, figuring out survey data can be tough and takes a lot of time. We need to make this easier and more creative.

A lot of groups think using survey tools like Survey Monkey or Excel is good enough. They want to know what their customers or people they help are thinking. They also want to see how their programs make a difference.

This usually means looking at lots of surveys. These surveys have different types of answers, both in numbers and words. But not every organization is ready for this. They might hire experts or use more complex survey tools, like Qualtrics or SurveyCTO.

They do this to get the most out of using data. But, collecting data isn't always helpful. It's about what you do with it.

Metrics like NPS (Net Promoter Score), CSAT (Customer Satisfaction Score), and CES (Customer Effort Score) are great for seeing if people are happy and supportive of your program. They help you understand how your program is doing.

These metrics give you a snapshot of where you stand. But they don't always tell you how to make things better.

So, what should you focus on? Look at the main parts of your data. This could be NPS, CSAT, CES scores, who your people are, or other key numbers. Focusing on these main parts helps you not get lost in too much data.

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Then, pay attention to what your stakeholders say. Good, open ended questions following your main data points are important.

Analyzing feedback from people used to be slow and expensive. It could take months. But the way we do this has changed. And that's what this article is all about.

To make your programs better, you need to use the insights from your feedback. This is super important.

In this article we will explain challenges of feedback data and ROI of feedback analysis. This can help you make a strong case to your management.

Just getting a survey tool or analytics subscription is only 10% of the challenge. The real game-changer is crafting impactful questions and expert analysis – that's the 90% where great feedback analytics truly shine!

Challenges of Customer Feedback Data

Many organizations face this scenario: conducting many surveys at different stages. Various entities use surveys in several languages, including open-ended questions. It's a common situation for both international and US-based organizations.

The challenge? Dealing with data sprawled across various datasets. Picture the laborious process. You must export data to Excel, juggle many sheets, and combine formulas to merge data. Then, we will categorize and translate qualitative responses from five languages. This process can stretch out over a year.

This narrative isn't unique to one organization. It's a widespread challenge among social purpose organizations. These organizations have a pressing need to fulfill. They also must generate compliance reports. 

This challenge isn't unique; it's shared by many social purpose organizations. They often lack the right data, the necessary technology, and crucial impact management skills. Are their processes streamlined to quickly gain deep insights without asking too many questions? Do they possess the tools needed to focus on key data segments and effective feedback analysis?

In this article, we'll present a detailed, relatable use case. We'll amaze you with a pioneering solution. It accelerates analysis and enhances insights tenfold.

We present strategic orchestration, an innovative method for comparing many surveys. This has been a manual and error-prone process. Consider collating pre- and post-survey results, which is often challenging. This is one of the many complex situations organizations face during analysis. We can now use advanced AI analytics to get deep, actionable insights from stakeholder feedback. This allows us to do so without bias. This used to be an arduous and time-consuming task!

1. A survey without a clear goal  is garbage in, garbage out
2. Survey analytics are very poor at aggregated qualitative and quantitative analysis
3. Most survey tools do not provide deep, actionable insight into open-ended questions. Most qualitative analyses are time-consuming and resource-intensive. Even if you can do it, you can still have biased answers.
4. Translating surveys and responses is time-consuming. Each survey can take hundreds of hours, discouraging analysis.
5. When you work with partners, understanding your funding makes a difference.  But how do you analyze when communities are far apart? 
6. Analyzing data from a longitudinal survey takes time. This is because of language differences, measurement techniques, and the data collected.

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The ROI of Feedback Analysis

Feedback is crucial in social purpose organizations. It holds the potential to drive significant transformation if analyzed and utilized. This underscores the importance of feedback analytics. Organizations dedicated to social impact don't extract insights from feedback for growth. It's also about enhancing their societal impact.

Key Benefits of a Robust Feedback Analysis Framework

• Deep Understanding of Stakeholder Feedback: Social purpose organizations gather extensive feedback data. Implementing feedback analysis software enables a deeper understanding of this data. It offers insights beyond the surface level. This approach helps organizations uncover the real reasons behind their impact scores. It also helps them understand stakeholder satisfaction levels.‍
• In-House Analysis for Better Control:  Robust software ensures control, contextual understanding, and a direct connection with stakeholders. Conducting feedback analysis with it provides these benefits. In contrast, outsourcing can lead to misinterpretation and delays. Efficient feedback analysis software enables an internal approach. It leads to more agile and informed decision-making.‍
• Identifying Actionable Insights:  Data is only as valuable as the actions it prompts. Feedback analysis software empowers organizations to sift through open-ended feedback. It identifies stakeholder concerns and interests. This enables them to take informed actions based on specific insights.

Risks of Neglecting Feedback Analysis

Overlooking feedback analysis can have several negative consequences:

• Loss of Trust: Stakeholders expect to acknowledge and address their feedback. Ignoring it can lead to a loss of trust and diminished engagement.‍
• Misaligned Impact Efforts: Organizations need to listen to feedback before straying from their core mission. This can lead to reduced effectiveness.‍
• Resource Mismanagement: High stakeholder churn rates can increase outreach and engagement costs, impacting organizational efficiency.
• Stakeholder Participation: If you don't gather feedback from your stakeholders, you're missing out on understanding their expectations or experiences. This oversight can lead to a significant risk, especially in terms of stakeholder participation. It's important to be aware of this to ensure the success of your impact initiatives.

Sources of Feedback for Analysis

Feedback analytics software can assimilate data from various sources for a holistic view:

• Stakeholder Surveys (NPS, CSAT, specific impact surveys)
• Demographic, Contact, Membership Data (External)
• Direct Stakeholder Interactions (interviews, focus groups)
• Service Reviews and Program Feedback
• Support Interactions (call and chat transcripts)
• Social Media Engagement

Challenges in Feedback Analytics

Feedback analytics can be a game-changer for social purpose organizations. But it's not without its challenges. The return on investment (ROI) is significant. But, realizing the full potential of feedback data requires overcoming several hurdles. Here are the five significant challenges in feedback analytics. Here's how to address them:

• Inconsistent Feedback Analysis Tools: Different teams might use diverse tools or processes to collect feedback. This leads to siloed and incomplete data. To combat this, standardize the tools and processes across the organization. Or adopt feedback analysis software. The software should integrate data from all sources. A centralized system ensures a complete and holistic view of all feedback.‍
• Complexities of Language in Feedback: Feedback is often expressed in varied ways. Language nuances can complicate the analysis. The solution is to use feedback analysis software. It identifies and categorizes common words or phrases. This simplifies sifting through diverse expressions and languages.‍
• Quality Variance in Feedback: Customer feedback ranges from specific to vague. Improving feedback quality starts with designing more brilliant surveys. Additionally, it involves developing processes to filter out less helpful feedback. These processes can be manual or automated. This refines the data quality, making it more actionable.‍
• Delays in Responding to Feedback Analysis: A common challenge is delaying actioning the insights from feedback analysis. This happens often due to overwhelming data. The key is to start with easy, impactful actions based on the feedback. This creates momentum for tackling more complex issues.‍
• Handling Negative Feedback: Negative feedback, while challenging, offers invaluable insights for improvement. Embracing and analyzing negative feedback can lead to product evolution and customer experience improvements. It can also help identify target customers better and make the brand more humanized. When managed well, negative reviews can even enhance a company's credibility. They show a commitment to growth and customer satisfaction.

Integrating a Feedback Analysis Solution

Addressing these challenges requires the right technological tools. Feedback analysis software can centralize data. It can also navigate language complexities. It filters unhelpful feedback. It mitigates biases. It focuses on actions based on feedback intensity and sentiment. The right tool transforms overwhelming feedback volumes into manageable, actionable insights. It helps organizations move forward with their social impact goals.

Feedback Analytics Strategies and Methods for Social Impact

Feedback analytics is critical for social purpose organizations. They help understand and act upon stakeholders' desires. Each feedback analysis method offers unique advantages and challenges.

Manual Feedback Analysis

This involves tagging, categorizing, and coding to simplify open-ended feedback. Open-ended feedback is often a rich data source for organizations. For example, a support team might categorize a ticket by issue type or related product. This eases future analysis.

Pros:

• It brings organization to open-ended feedback, allowing for quantitative methods on qualitative data.

Cons:

• Manual and time-intensive.
• Customers’ varying language usage complicates tag maintenance.
• Potential disagreements over tag use and relevance.
• Challenges in determining the more profound value of tags or categories.

Sentiment Feedback Analysis

This method uses Natural Language Processing (NLP) to detect sentiment within text. It helps gauge stakeholders' emotions toward your organization.

Pros:

• Measures stakeholder sentiment over time.
• It is beneficial for analyzing social media data.

Cons:

• Risk of misinterpretation due to linguistic nuances.
• Requires careful analysis to avoid false sentiment conclusions.

Keyword Feedback Analysis

This involves extracting critical phrases from feedback to determine actionable steps. For instance, “issue,” “glitch,” or “price.”

Pros:

• Identifies prevalent topics in stakeholder feedback.
• Assists in identifying important categories for further analysis.

Cons:

• Does not provide a comprehensive understanding.
• Risk of analysis bias.
• We need to do manual verification after analyzing.

Topic Feedback Analysis

This method is also known as supervised topic analysis. It involves creating a set of topics for machines to search for in your feedback data.

Pros:

• Mitigates issues like human bias and time to results.
• Generates insights from unstructured data.

Cons:

• Not scalable.
• Requires manual updates for new topics.
• Limited to pre-identified topics.

Manual vs. Software-Based Feedback Analytics

While manual methods can yield insights, they are often costly and unsustainable. Modern feedback analysis software offers unsupervised text analysis. It overcomes these limitations by identifying topics without manual input. This approach reveals a broader range of stakeholder concerns.

Choosing Feedback Analysis Software

When selecting software, consider:

• Accuracy and insight level: Select software that identifies known and emerging trends.
• Time to results: Assess both initial setup and ongoing efficiency.
• User-friendly output: Ensure the software provides accessible reports.
• Trial with your data: Opt for a trial period using your data to gauge suitability.

Driving Action from Feedback Analytics

The ultimate goal is to translate insights into action. Actionable insights align with business objectives. They provide context, are relevant to the appropriate team, and are specific. They also communicate and offer novelty.

• What is strategic orchestration, and how does it work?
• What are the benefits of using feedback analysis software for social impact organizations?
• What are the negative consequences of neglecting feedback analysis in social impact organizations?

Sopact Sense stands as the most cutting-edge feedback analytics tool, specifically crafted for those seeking to delve into meaningful data and analyze impactful results swiftly. Discover further details about Sopact Sense on this page.

In summary, manual feedback analysis methods have their place. Software-based solutions offer a more comprehensive, efficient, and scalable approach. They help social purpose organizations understand and act on stakeholders' feedback.