There are several ways that companies can collect information from groups. However, there tends to be two styles: one where data is collected, compiled later and then analyzed even later on. The other is for the data to be collected, collated and analyzed all at the same time.
The latter of these options offers one of the best advantages: real time analytics. There are several reasons why real time analysis is so important. Here are some of the reasons why and how you can utilize it in your business.
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1. The World Changes Quickly
The modern world is changing. Nowadays, something that was a given yesterday is now old news. It’s the same with your business. What customers think now might not the be the same later on. If you’re making judgments on old information, then you will implement things that may no longer be an issue.
For instance, say you send out a survey where people complain that your product doesn’t help in cooler weather. You don’t analyze the results until summer because of the amount of information you’ve collected and then make changes. Now the product works great in cooler weather but performance is reduced in warmer weather. However, as it is now summer, customers complain that your product is no good in the hot weather.
You’ll be forever chasing to please customers with outdated information. This can only cause frustration for you and your staff as well as customers.
2. Cost Savings
Real time analysis allows you to collect information and act upon it very quickly. You might get mentions that some new product that you’ve released isn’t particularly popular with customers. With real-time analytics you can see why it isn’t popular and make changes immediately, therefore, satisfying customers and reducing costs as you are limiting the production run of poorly received products.
This can make a significant difference to the success of your business. A bad production run that can’t be sold is a waste of financial resources and without the right backing, can be hard to write off or recoup.
3. Can See Trends Very Quickly
When you run real time analysis you can see trends in the results of your surveys. Are respondents more generous in their feedback when they’re responding on a weekend? Or are they more picky with certain qualities when you ask for surveys to be completed two or three weeks after purchase?
Seeing these trends can help you identify when you should send out future surveys for a less biased result. In addition, they help you to learn more about your demographics. When are they more appreciable of marketing information? When are they more likely to have spare time?
By spotting trends, you can also plan future surveys and marketing more carefully. If you notice that customers are more receptive on a Monday, then you know that is when you should send marketing information; likewise, if they don’t respond on a Friday night, you can stop sending marketing messages on that day.
4. Can Do Follow-Ups When Responses Are Fresh In The Minds Of Respondents
Sometimes the answer given by respondents aren’t enough to clarify a point. For instance, you might have given them an open-ended question and they’ve referred to something that you don’t understand. If you have to wait for responses, sending a follow-up will have a low return rate as so many of the original audience will have forgotten the question and their answer.
Yet with real-time analysis, the actual process allows you to spot oddities in the answers and be able to follow up with the audience. This can help you get more detailed information to act upon quickly. You can also be sure to turn unhappy respondents into positive ones.
For instance, if you notice that some customers are unhappy with their delivery experience, you can offer to repay their shipping. This small gesture can help you build brand loyalty with customers without too much cost. If you had to wait for responses, customers might be frustrated by your lack of response.
5. Real-Time Analysis Is Quick And Accurate
Real-time analysis is often done via a computer program already installed on your computer or with the service you use. Therefore, there is limited time needed to input data. It is already done by the software as the audience complete the online survey. Therefore, there is no wasted time or cost from having staff enter in responses.
The software also means that there are no data-entry errors which are often present when humans enter data. This improves the quality of the data and the reliability of the information that you’ve collected from your online survey.
Real-time data is an important benefit of online surveys. It helps you quickly react to information gathered from customers/employees in questionnaires you’ve issued. This can make your business more agile and therefore competitive in a forever changing world.
Read the french version
Sondages – Tout sur l’analyse en temps réel, click here