Enterprise feedback management

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Enterprise Feedback Management ( EFM ) is a system consisting of processes and software that enables companies to centrally manage surveys with company-wide author assignment and analysis options. EFM systems typically offer different roles and authorization levels for different users, such as novice survey author, professional survey author, survey reporter and translator. EFM can help companies establish a dialogue with employees, partners and customers in order to address key issues and, if necessary, to intervene on customer-specific issues in real time. EFM consists of a database, analysis and reporting. Modern EFM systems can monitor feedback from a wide variety of sources, such as customers, market research, social media, employees, suppliers, partners and audits, on a confidential or public basis. EFM systems can be used by companies in a variety of sectors: Systems from Clarabridge, Medallia, Netigate, Qualtrics, and QuestBack, for example, are used by more than half of the Fortune Global 500 companies in the services, consumer goods, financial services, government, government, healthcare, manufacturing, Used in media and communications, nonprofit and other companies, research and professional services, retail, technology, travel, and hospitality.

background

The term Enterprise Feedback Management was coined by Perseus Development in 2004 and first gained popularity in 2005 by Gartner Inc. Their definition described EFM systems as “formal tools for data collection and results analysis”. Before EFM, survey software was typically used in departments and there were no user roles, permissions and processes. EFM enables cross-company use and provides decision-makers with important data to increase customer satisfaction , loyalty and customer lifetime value . EFM enables companies to view their customers "holistically" and to better respond to their needs. Enterprise Feedback Management systems are derived from “Predictive Analysis” (PA) technology. It can be deduced that PA is as large a field of knowledge as data mining . The prediction of current and future trends is based on the data collected so far. PA includes different types of data preparation: grouping ( cluster analysis ), decision tree , regression analysis , artificial neural network , text mining , statistical test and others. PA technologies are tools that convert data into information and information into knowledge. This transformation was described in part by Vannevar Bush in the 1945 article As We May Think . EFM programs support complex survey design with features such as questions and page rotation, quota management, and pattern jumping and branching. The software typically offers advanced reporting, statistical analysis and central panel management. EFM applications are often integrated in external platforms, typically in customer relationship management systems (CRM), but also in a personnel information system and common web portals. Unlike simple survey tools, EFM applications offer workflows with user roles and authorizations, so that certain users can write surveys but require the approval of another user for publication. Such processes ensure a constant quality of the surveys and compliance with data protection and IT security guidelines. EFM programs differ greatly within the HR, IT, Marketing and Sales departments and other applications of varying scope. Departments within a company can work together on feedback, share results and derive insights, which gives companies the opportunity to listen, learn and respond to stakeholder needs. A central benefit of using EFM is the development of company rules (i.e. who needs which feedback information) and the targeted monitoring of processes on the part of customers, employees and partners.

EFM today: current situation and outlook

Gartner predicted that by 2008, 40 percent of all feedback systems would be EFM solutions. It is worth noting that the motivation to adopt EFM is a reduction in the dependency (or cost reduction) of traditional satisfaction research. The EFM market grew from 60% to 70% between 2005 and 2006.

Some illustrations of how EFM has evolved:

  • From multi-channel customer surveys to multi-channel customer feedback

In recent years, providers have focused on completing their ability to use surveys across multiple deployment methods: email, telephone, speech dialog , SMS , paper, and fax. The next generation of EFM solutions will enable companies to leverage feedback from key emerging sources such as social media, online communities, call recordings, contact center records, and more to get a “360 ° view” of the customer. The ability to receive feedback via social media has become increasingly important as more and more customers share their views on blogs, Facebook, Twitter, news sites, forums and reviews. With the help of “touch point tracker” software, it is also possible to obtain reliable feedback directly at the time of purchase. As a result of mobility, the feedback can be submitted via tablets and smartphones.

  • From isolated solutions to comprehensive insights

Collecting surveys is only the first step. The next generation of EFM solutions has the ability to generate unique insights by aggregating and analyzing the multi-channel feedback. For example, users can use data from social media to compare the consumer climate with satisfaction from surveys and loyalty evaluations and delve deeper into feedback sources at the request level (verbal surveys, caller surveys, etc.) in order to be able to determine a more precise relationship. These insights enable companies to understand underlying problems, determine the right solutions, and invest in a targeted manner so that they can ultimately exert the greatest impact.

  • From simple surveys to advanced case management across all survey channels

The next generation of EFM solutions can do more than just issue simple warnings in the event of negative survey results. Comprehensive EFM solutions now also offer extensive case management and react reliably to individual customer problems and comprehensive case studies across all channels. This gives companies the opportunity to respond efficiently to individual customers and save on-site services and the involvement of managerial staff.

  • From static insights for the few to real-time insight for all

In order to turn customer surveys into strategic tools for competitiveness, the data must always be available when making daily decisions. The next generation of EFM solutions provides every user in the company with relevant data from surveys in real time and according to their roles - executive, manager, customer service, etc. - without unnecessary administrative effort. American General, for example, uses action management capabilities to address service and quality issues company-wide in real time, with survey responses that trigger email alerts and case management tools based on business rules. Alerts allow companies to take the initiative and react more quickly to problems with customers - and because they capture problems as they arise, customer satisfaction directly shows how changes affect the customer's experience.

Using the information from the customer satisfaction program, the American International Group identified opportunities to reduce technology costs, prevent expenses, and optimize business processes. They track booths and trends to understand how each business area can improve the customer's experience. As a result, they have been able to improve overall satisfaction and retain more customers. One of the major trends in EFM development is the integration of manufacturers' mobility. Verint Systems, for example, has launched an EFM ( mobile app ) mobile app . The possibility of using feedback on portable devices has many important advantages, which enable company employees to receive and analyze data on time. The most important innovations are:

  • Optimization of surveys for portable devices. With these new technologies it is possible to use EFM on tablets and smartphones.
  • Use of mobile reporting. Required analyzes can be carried out and operational decisions can be made within specified periods of time.
  • Use the advantages of mobile offline surveys. While previous EFM versions required internet access, this mobile service allows the user to partially carry out analyzes offline and later synchronize them with the online app.
  • Increased response rate through SMS. Market researchers can reach their customers via SMS, bulk messages and reminders.

criticism

Although EFM appears to be a suitable tool for various data analysis, it has also been claimed that EFM is a thing of the past. The fact that EFM is geared towards the company, not the customer, could be seen as a major disadvantage; Findings from a variety of inputs need to be explored, feedback would be too small an area; The value of the system should be measured in terms of the measures derived, not just the handling of surveys. The author of the article Enterprise Feedback Management (EFM) Is ​​Dead suggests that Customer Insight and Action Platforms (CIA) should be used instead of EFM.

See also

swell

  1. ↑ Resources Archive - InMoment . In: InMoment . Archived from the original on March 11, 2014.
  2. ↑ Perseus Survey Solutions / EFM Hits the Ground Running with New Clients Including Caterpillar . In: businesswire.com . December 9, 2004.
  3. ↑ Logistics-Supply Chain-Supply and Demand - Supply & Demand Chain Executive . In: Supply & Demand Chain Executive . Archived from the original on July 16, 2011.
  4. ↑ Angry and bored? You must be a customer: finding out what customers really think is a crucial first step toward an improved bottom line. New technology may help. - CFO, The Ma ... . 
  5. ↑ The Next Generation of Enterprise Feedback Management (EFM) Solutions ... December 18, 2013, accessed June 15, 2020 .
  6. ↑ Enterprise Feedback Management Mobile . In: verint.com .
  7. ↑ a b Enterprise Feedback Management (EFM) Is ​​Dead . In: Customer Experience Matters .