Predicting Return Behavior and Sales with CX Ratings or NPS
A Customer Experience Case Study Utilizing OdinTexts’ Text and Predictive Analytics (Predicting Actual Return Behavior and Sales with CX Ratings or NPS)
We were honored today to have one of our case studies featured by Greenbook. Though we have several other similar cases like it, it remains one of our favorite uses of Customer Satisfaction/Customer Experience data (whether NPS or any other rating scales are used). The final analysis involved close to a million customers over a two-year period.
In the case study which features Jiffy Lube, we found that contrary to what Bain Consulting had been claiming in Harvard Business Review for over a decade, Customer Satisfaction Ratings (whether NPS, OSAT or any thing else), these metrics have very little correlation with actual return behavior/repurchase, and absolutely NO correlation with sales/revenue (business growth).
The solution to better understanding and modeling both return behavior and sales lies in leveraging both the structured and unstructured text data, something OdinText is uniquely built to do.
You can read the abbreviated case study on Greenbooks’ site here.
Feel free to contact us with any questions or for a slightly more in-depth write up.
OdinTexts’ software has recently been updated and is now even more powerful, in terms of easily handling predictive analytics related to any customer experience metric whether OSAT, NPS or any other metric. You may request information, as well as early access, to our upcoming release here.
Thank you for reading, and thank you to Greenbook for selecting and sharing this interesting case study.