Soft Data Analytics: Key to success

What you can learn from 360-degree reviews and why data correlation will become your strongest weapon in the future.

Trend Soft Data Analytics

Who of us is not familiar with this situation: As soon as we have used a service or brought a product, we are asked to submit a feedback. To this, many companies are constantly developing new, inventive lures to get as much input from their users as possible – competitions, discounts and goodies are waiting for the happy feedback contributors.

Even within organizations, companies have understood to question and promote the needs of its employees. In fancy workshops team-building measures are learned, agile working groups are designed to reduce the hierarchy gap and the level of stress should be lowered by means of yoga lessons at the workplace. However, are these truly the real needs of the employees or are companies just following a huge trends?

It´s fact: employees remain the strongest potential driver of the company. For this, it is essential for a company to measure not only customer satisfaction but also employee satisfaction. In many cases, the necessary surveys determine the needs of customers and employees are carried out separately. Although the data collected provide insights of the individual stakeholder, in most cases they do not lead to efficient results. The reason: simple customers and annual employees’ surveys provide only limited knowledge about the needs. The survey result of the customer can lead to dissatisfaction of employees – or vice versa. Unfortunately, these unequal results aren´t correlated.

Due to Vyfster Soft Data Analytics, companies can correlate the results of both customer and employee surveys. The innovative data correlation provides the right instrument for measuring satisfaction data. A constant relation of both variables reflects the actual, natural satisfaction of both stakeholders. The displayed correlation coefficient can have positive as well as negative values – the larger the absolute value of the coefficient, the stronger the relationship between the variables; e.g. the customers and employees.

Here we are continually referring to complex mathematical methods that constantly examine the curve of satisfaction data in time relations for similarities and differences. If, for example, an investment or change process is introduced in a company, the system measures the different perceptions of the management decision in real time. The calculated values lie between a corridor -1 and 1. While the negative correlation represents an opposite relation between customers and employees, the positive correlation shows an identical reaction of the two stakeholders. However, why is that relevant? Quite simply, if you find out that your customers are satisfied, but your employees’ aren´t, Vyfster identifies a mismatch. Therefore, the probability of disproportionate CRM issues is higher than they should be. A very interesting factor that every company should look at in order to move from an artificially funded customer relationship to a natural one.

In order to close the sphere of activity of an efficiently acting enterprise, customer and employee satisfaction should measured and analyzed parallel. Out of this appropriate action recommendations should derived. The data correlation used in a sustainable way, accelerates the speed of response in complex and fast moving markets simultaneously in both divisions. Before you introduce expensive loyalty programs or engage yoga teachers, it is a good idea to take a closer look at the pain points of both variables.

The development of employee potential is not just a distant ideal. Properly used, it has an impact on the financial health and competitiveness of companies. After all, employees identify with their work and release untapped potential, energy and engagement. They expand the previous performance horizons – grow rather than stagnate.

Various studies have shown that conservative key figures such as contribution margins or sales growth are indeed relevant, but that they have usually buried their roots more deeply in companies than, for example, conventional financial instruments. The examination of the so-called “People Science” (equally relevant to customers and employees) provides information on the relation-oriented optimization of processes in order to achieve an effective impact. Targeted and, above all, individual correlations of precisely this data provide a clear advantage in the data analytics of tomorrow.