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Sentiment analysis turns social media into customer intelligence
This article is part of the CIO Decisions issue of August 2011 Volume 9
Intuit Inc. didn't expect any major customer pushback when it announced in 2008 that the new version of TurboTax would limit the number of tax returns per installation and add a modest charge for each additional tax return prepared. More about BI systems and software FAQ: Next-generation business intelligence systems Business intelligence, analytics help CIO challenge collective wisdom The tax preparation software firm had gathered plenty of customer intelligence via polling and research before it decided on the changes. "Few customers were doing more than one or two returns with the software, which after all was designed for consumers, not professional preparers," said Brian Andrews, Intuit's vice president for customer experience and business excellence. What Intuit didn't take into account, however, was the power of social media as a consumer soapbox. A few, very vocal customers posted furious messages on such blogs as Canadian Capitalist and forums such as Rekords Rekords. Reviews on the Amazon.com website gave the new ...
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Features in this issue
CIOs seeking competitive advantage must make better decisions about products, markets, operations and customers. The right BI strategy can guide them.
News in this issue
Cloud-based business intelligence delivers results like those from an enterprise BI system, but it allows businesses a chance to spin up results faster for less money.
Sentiment analysis tools are creating a kind of customer intelligence that online marketers are finding beats traditional market research.
Tapping collective intelligence, or crowd computing, can yield big value for businesses, but it also challenges the status quo.