Qualtrics Introduces New Market Intelligence Capabilities

Edge Audiences delivers AI-powered synthetic panels that reduce survey costs by up to 70% and shorten collection times from weeks to minutes

Edge Instant Insights powered by Qualtrics and partners including NPS Prism® by Bain & Company give researchers immediate access to millions of trusted benchmarks and data points

Qualtrics, the leader and creator of the experience management (XM) category, launched Qualtrics Edge, a powerful new market intelligence platform combining advanced AI, synthetic insights, market research data, and expert advisory services that allow organizations to accelerate strategic decision-making and attract and retain customers.

Qualtrics Edge gives organizations unprecedented visibility into business trends, customer needs, and strategic opportunities through access to millions of trusted consumer insights, market trends, and industry benchmarks – all delivered in a fraction of the time and cost of traditional programs.

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With powerful synthetic AI capabilities in Edge Audiences™ and access to a broad range of business and market Edge Instant Insights™ – backed by Qualtrics’ own decades of proprietary research, consumer and competitive benchmarks from Qualtrics partners, and the world’s largest database of experience data – Qualtrics Edge allows companies to undertake customer, employee, and market research at unprecedented speed and scale.

“To remain competitive and relevant, organizations can no longer rely on traditional market research tools and practices alone. Teams need instant access to insights they can trust and act on, and they need them to come from a range of sources,” said Brad Anderson, Qualtrics President of Products, User Experience, and Engineering. “Qualtrics Edge is a transformative shift in how businesses gather and use customer insights. Edge’s speed, scalability, and AI-powered intelligence is proven to rapidly help organizations drive success by staying ahead of consumer needs, making smarter decisions, and increasing operational efficiencies.”

Make faster, confident decisions with synthetic data

With Qualtrics Edge Audiences, market research teams can shorten the time needed to conduct research from weeks to minutes, and reduce costs by as much as 70%. Edge Audiences combines publicly available data, Qualtrics’ vast repository of unique industry-specific experience data, and predictive analytics to equip researchers with synthetic insights they can trust.

Using advanced AI, Edge Audiences enables researchers to ask questions of synthetic respondents designed to represent their target customers. The synthetic capabilities allow researchers to quickly understand market trends and customer expectations, including in hard-to-reach audiences, and simulate consumer behaviors, preferences, and decision-making. Insights inform researchers to help them make faster decisions with confidence, and prioritize future investments and focus areas for maximum business impact.

Synthetic research can also be combined with human-panel research from Qualtrics to enhance programs.

Valuable real-time AI-powered insights on day one

Qualtrics Edge Instant Insights gives organizations immediate access to a library of competitor insights, industry benchmarks, and emerging consumer trends and behaviors to complement and inform future research projects and ensure research teams see rapid value in their investment. With Instant Insights, organizations can view experience data in the context of their location, industry, and competition – including satisfaction, customer behavior and purchase trends – and use Qualtrics AI to quickly and easily determine the next best steps based on their data. Instant Insights is powered by data from Qualtrics’ own proprietary research and unique operational and industry data sets from partners.

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• Instant Insights for Restaurants – On-demand insights provide immediate visibility into market trends, shifting consumer preferences, and competitive positioning with named competitors in the quick service restaurant, fast casual, and casual dining industries.
• Instant Insights for Hospitality – On-demand insights provide immediate visibility into market trends, shifting consumer preferences, and competitive positioning with named competitors in the hotel, resort and cruise industries.
• Pulse by NPS Prism for US Insurance – Actionable customer experience insights for US insurers based on unbiased feedback from your customers and competitors’ customers.
• Pulse by NPS Prism for US & UK Banking – Actionable customer experience insights for US and UK banks based on unbiased feedback from your customers and competitors’ customers.

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“With the data and insights from Pulse by NPS Prism integrated into Qualtrics Edge, organizations can quickly and easily benchmark vs. competitors, identify critical points in the customer journey requiring attention, and uncover industry-specific customer experience trends,” said Rahul Sethi, President and Co-founder NPS Prism by Bain & Company. “In fast-moving world, Qualtrics Edge provides organizations with an instant and significant competitive advantage – enabling them to drive value from their investments in customer experience research.”

Qualtrics AI makes data analysis easy and improves data capture

Qualtrics also launched a number of AI capabilities in XM for Customer Experience™ and Strategy and Research that allow market research teams to capture more actionable feedback, and quickly analyze structured and unstructured customer feedback:

• Qualtrics Conversational Feedback transforms traditional surveys by using AI to ask targeted follow-up questions that dynamically adapt based on the consumer responses given. Qualtrics AI can identify negative or positive feedback and ask questions to clarify additional details, better enabling teams to take targeted action and improve resolution rates.
• Qualtrics Insights Explorer, available now in the XM for Customer Experience suite and Strategy & Research suite, is an AI-powered text analytics tool that makes it easy for organizations to quickly analyze, surface actionable insights, and take action on responses from structured and unstructured feedback, such as call logs and online reviews. Capabilities in Insights Explorer deliver concise summaries of all feedback, and identify market opportunities, themes, emerging issues, and unmet customer needs empowering organizations to increase customer satisfaction, reduce churn, and drive revenue growth.

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