Qualtrics data analysis capabilities get a boost with the new Brand Driver Analysis solution available with the Qualtrics BrandXM software. BrandXM is one of the leading experience management (XM) company’s four pillars of XM technology that integrates with customer, employee, and product experiences to enable a comprehensive view of insights and actions that shape the core experiences of any organisation.
The brand new Qualtrics data analysis capability was announced this week. Brand Driver Analysis enables the automation of a complex, resource and time-intensive advanced analytics process. This process automation aims to empower companies to quickly uncover what drives brand value. It provides companies with actionable insights into multiple significant factors that drive brand perception for the creation of an effective brand tracking strategy.
Data Analysis for Brand Experience Management
In a Qualtrics webinar, the company notes that with the COVID-19 pandemic continuing to cause immense changes in consumer attitudes, preferences, and behaviors, designing a powerful brand tracking strategy is more business-critical than ever. Evidence from past recessions shows that cutting back or pausing brand tracking during a crisis is risky. According to Qualtrics, brands that stayed relevant and present in recessions came out stronger and ahead of those which stopped communicating and tracking.
Brian Stucki, Executive Vice President and General Manager of Qualtrics CustomerXM and BrandXM said in a press release:
“In a time of rapidly evolving consumer sentiment, it is critical that leaders have real-time access to insights that are most important to driving brand perception, and ultimately, better business results. Yet even the most advanced marketing organizations lack the time or resources to complete the complex analysis required to quantify these priorities. Qualtrics’ Brand Drivers Analysis automates this process to ensure business leaders always have the insights they need to confidently decide which actions will attract customers to their brand.”
Brand Driver Analysis is powered by Driver iQ—Qualtrics’ data analysis software that uses financial impact and advanced regression analyses to automatically recommend improvements that have the highest return on investment (ROI).
Companies that use Qualtrics BrandXM get the benefits of the new Brand Driver Analysis solution. These include:
- Providing flexibility for unlimited, real-time analyses of the drivers behind brand preferences and outcomes.
- Saving time and budget – immediate data analysis that can be performed at any time and by anyone within an organisation, without the need for advanced research scientists or outside consultants.
- Qualtrics data analysis quickly identifying the brand’s strengths and competitors’ weaknesses, and where to focus actions to maximize results.
Below is a list of organisations across different industries and missions—from regional brands to global enterprises, including non-profits—that have chosen Qualtrics BrandXM for their business growth strategies:
- Heifer Project International – a global nonprofit organisation working to eradicate poverty and hunger through sustainable, values-based holistic community development
- Trent Hypermarket – a chain of supermarkets based in Mumbai, India
- Gelesis – a privately held biotechnology company located in Boston, Massachusetts, USA
- Discord – a proprietary freeware instant messaging and VoIP application and digital distribution platform designed for creating communities ranging from gamers to education and businesses
- eHealth, Inc. – an American company that offers health insurance over the Internet
- LPL Financial Holdings Inc. -considered the largest independent broker-dealer in the United States
- Osotspa Public Company Limited – Thailand’s leading consumer product manufacturer