Product intelligence is data and insight into how consumers use a product and how they feel about their experience with it. Product intelligence reveals how, when, and why consumers interact with a product, where it meets their needs, and where it falls short of expectations. Product intelligence can help companies improve existing products and identify consumer needs that can be filled through new product development.
How is product intelligence developed?
Customer feedback is essential to product intelligence. Companies solicit product feedback through surveys and focus groups and collect unsolicited feedback by monitoring customer comments in social media posts, online product reviews, and conversations with contact center agents. The data gathered from these sources can be combined with sales, marketing, web traffic, and CRM data to provide deeper insight into how well a product serves customers’ needs and where it can be improved.
What are the benefits of product intelligence?
Superior product intelligence helps companies deliver better product experiences while increasing customer satisfaction and building customer loyalty. Product intelligence technology accelerates innovation by delivering clear insight into unfulfilled customer needs and expectations. Companies also use product intelligence to enhance quality control and gain earlier insight into product flaws and errors. Product intelligence can help deliver competitive advantage by monitoring customer opinions about competitors’ offerings, revealing areas for improvement and opportunities to meet unfilled needs.
Product experience is the sum of customer interactions with a product, from first use through the entire product relationship. Product experience also includes the thoughts and feelings that these interactions produce. A positive product experience increases product usage, builds customer loyalty, and results in stronger reviews and net promotor scores (NPS).
What is product intelligence software?
Product intelligence software automates the task of gathering, aggregating, and analyzing data about how customers interact with and feel about a product.
What are the challenges of product intelligence?
The biggest challenge in developing product intelligence is gathering comprehensive and accurate information about how customers interact with a product. Traditional methods for gathering intelligence include user testing and focus groups, but these methods sample only a small group of customers. Surveys can reach a broader group of customers, but results are often skewed by respondents with highly positive or negative opinions. Calls with contact center agents offer access to unsolicited feedback, but gathering data from this source has traditionally required hours of manual review to gather data from a small number of calls.
What’s the best way to develop product intelligence?
Many organizations have turned to conversation analytics to overcome the limitations of gathering customer feedback from surveys, focus groups, and user testing. Conversation analytics automatically captures, transcribes, and analyzes text-based and audio conversations with customers across all channels. Conversation analytics solutions can monitor customer feedback in phone calls, email, chat, SMS text, surveys, websites, social media, and more. By capturing all the unsolicited feedback in 100% of customer conversations, conversation analytics provides product managers, product designers, and product marketing teams with a much fuller picture of customer wants, needs, expectations, and opinions of a product.
What is product intelligence with CallMiner?
CallMiner Eureka is the industry’s most comprehensive platform for analyzing omnichannel customer interactions at scale. Leveraging AI and machine learning, the CallMiner platform captures audio and text-based interactions across all channels to reveal the content of conversations, the intent of customers, and the sentiment and emotion driving their behavior. By analyzing comprehensive interactions at the deepest level, CallMiner can reveal new insight into what customers think and feel about a company’s products and the products of their competitors. CallMiner Eureka provides the product intelligence that teams need to drive product investment, fuel product innovation, ensure product quality and safety, and uncover competitive threats.