Text analysis and modern market research methodology

Wonderflow Blog

Our methodology

Since day one we specialised in making complex text analysis simple and accessible by everyone. We strongly believe that learnings from consumer data should be on everyone’s desk, and not filtered by technical people. As a consequence, we developed technologies and processes that make the life of corporates much easier than before. In the last years, we already transformed 20 of the Fortune1000 become consumer-centric and adopt a modern market research methodology.

What happens when you decide to work with Wonderflow?

We reach out to you in order to organise a “requirements” meeting. Our goal is to have a clear picture of your needs in terms of products/services, markets, languages, data sources and other key variables of the analysis. We will guide you throughout this process, and you won’t need to spend extra time on it.

Once we agree on the scope, we proceed with the linguistic configuration of the dictionaries. We always ask you for feedback, as we aim to translate consumer language into the corporate language that is shared throughout your organisation.

After completing the configuration we are ready to release the first analysis. Usually, it takes less than 30 days from the first contact to first delivery. In the initial phase of our collaboration, our team of 50+ analysts reviews the results of the automatic analysis and improves it, if necessary.

Results are published in our online dashboard, the Wonderboard, which is designed for business users and not only for technical people and researchers.

In short, we take care of the entire analysis process to save you time and money while delivering high quality for your business:

  1. Collect requirements
  2. Build the first version of dictionaries
  3. Extract, collect and clean data
  4. Perform analysis
  5. Publish actionable results in 30 days

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What does the process look like if you would do it internally?

First of all, you would need to collect requirements from all the stakeholders and make sure everyone is aligned with the project. You would need a team of data scientists and knowledge engineers to work on a licensed text analysis engine to configure the rules. It might take months to reach sufficient quality, and it would be complicated to find alignment between your technical and business colleagues.

Once you are satisfied with the quality you would need developers to build dozens of scrapers for public sources as well as integrations with your database. Filters like anti-duplication or data-cleansing would require extra effort.

The last step would be to design a reporting system that would be easy to use and entertaining for your colleagues. Most of the text analysis platforms are complicated and this becomes a barrier for user adoption, and for the overall success of the project.

On average this entire process takes between 9 and 12 months of work for a team of 10 people. In many cases, the results are never satisfying, and it’s hard to generate a consumer feedback loop that works.

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Let’s highlight some key facts based on our historical data

On average our customers save 90% of the time for product/service research. Setup, configuration and launch of the consumer feedback program is 80% faster and cheaper than homemade solutions. No technical skills are required.

Our brands can easily expand from local to global, as they can count on 150+ data sources in more than 12 languages. The analysis in the Wonderboard is so simple and actionable that business users put it in the center of their work, both day-to-day and strategic. Usually, we have approximately 1000% more users than any other platform in our industry.

We focus on the process and the methodology rather than just on the tool. We strive to instil a customer-centric mindset in your team, and this usually leads to immense benefits at different levels.

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How does the Wonderboard compare to traditional research techniques and market research agencies?

The Wonderboard comes with a set of business features that are designed to outperform traditional research techniques both in actionability and scale. As an example, we can mention our “Automatic Insights” feature. How does it work? We ask you to list the questions for which you would like to find the answer in the analysis. We code your questions in our system. The Wonderboard generates the answers using natural language as if they were written by an analyst. The good thing is that these answers, being the result of mathematical calculations, are completely unbiased. Another good thing is that answers update real-time as you change the parameters of the analysis (e.g country, channels, products etc).

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In short

we have seen our customers dramatically reduce the budget for market research agencies as soon as they started to use the Wonderboard. Our artificial intelligence has proven to outperform traditional research in actionability, flexibility and scale. Companies that fully adopt our product and process stop purchasing research from external agencies, as it becomes unnecessary and obsolete.

FREE GUIDE: The Economic Value of Customer Feedback

Learn how to calculate the ROI of your customer feedback management and analysis using the formula we layout in this detailed guide. 
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