Qualtrics Launches Qualtrics iQ

Qualtrics, a provider of customer experience management solutions, today launched Qualtrics iQ, a predictive intelligence and machine learning engine for processing massive amounts of text in seconds, performing deep statistical analysis, and making predictive recommendations.

Qualtrics iQ is made up of three core components: Stats iQ, Text iQ, and Driver iQ, and has been used by more than 200 clients in a pilot launch. Together, the three enable organizations to instantly process millions of response records, including open text feedback fields, and automatically prioritizes the most impactful experience drivers by automating advanced correlation and regression analysis. Qualtrics iQ allows organizations to automatically identify trending topics, statistically validate key drivers, and identify the appropriate statistical tests and models.

"Qualtrics Text iQ is easy to use and provides seamless, accurate sentiment analysis, making it easy to surface trends in open text data," said Jason Averitt, customer experience manager at Allegion, one of the companies involved in the pilot, in a statement. "It helps us prioritize customer experiences, predict their needs, and identify important patterns that help us create the most impactful CX program possible."

The three core components of Qualtrics iQ are:

• Qualtrics Text iQ: Uses natural language processing and machine learning algorithms to analyze open text feedback and surface trends in data. It automatically groups responses by suggesting relevant or related topics and assigns sentiment scores to individual text comments (positive, negative, neutral, or mixed).
• Qualtrics Driver iQ: Automatically helps organizations statistically identify key experience drivers deep in their data and prioritizes key driver variables so they know where to focus their efforts for the biggest impact. Driver iQ provides real-time filtering.
• Qualtrics Stats iQ: Makes advanced statistical analysis accessible for the average user by providing automated and instant data analysis, all within the Qualtrics Experience Management Platform. There is no need to export the data or massage it in another software to gain insights. Stats iQ automatically chooses the appropriate statistical analyses for the data and then translates the results into plain English. The various advanced data analytics functions include relate, univariate, bivariate, crosstabs, regression, and modeling.

"Qualtrics iQ hunts down experience gaps automatically, predicting what customers want and helping organizations find and address issues before they negatively impact the business," said Webb Stevens, head of product at Qualtrics, in a statement. "Machine learning helps automate tasks that were previously time-consuming or impossible to scale, like analyzing open text feedback or finding key drivers buried in your data."

In addition to the release of Qualtrics iQ, Qualtrics also announced several new features in its XM Platform, including advanced data processing, response editing, and the ability to streamline the data collection and preparation process.

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