Commerce.AI versus Qualtrics: Which is the Better Product Data Solution?
Data is becoming more and more valuable to companies every day. The data collected from customers can provide insights that are invaluable to the success of any company—particularly product teams that are tasked with building products that’ll fly off the shelves.
In today’s competitive marketplaces, it has never been more important for commerce leaders to make data-driven, insightful decisions. Gone are the days of subjective judgment. Today, companies are under increasing pressure to streamline complex processes and maximize customer due diligence.
There are two popular software solutions used for product data analysis, Commerce.AI and Qualtrics. In this article, we will explore Commerce.AI and Qualtrics to see which of the two is the better option.
Commerce.AI has analyzed over a trillion product data points using its data engine. The data seen by Commerce.AI includes unstructured data from Amazon, Walmart, Target, and many other product data sources. Commerce.AI’s features include product strategy, competitive strategy, market intelligence, AI content, and more, all in one platform.
On the other hand, Qualtrics is a research platform that lets users capture and analyze experience data from customers. Qualtrics features include customer experience analytics, customer feedback management, customer feedback surveys, and other features to help companies get a better understanding of how their customers experience their products or services.
Commerce.AI—Bringing the Data to You
With projects that span across industries and a database of over a trillion product data points, Commerce.AI has become the engine behind some of today’s most influential innovators, including the likes of Coca Cola, Unilever, and Suzuki.
One of the first things users notice about Commerce.AI is its in-depth and 'insider' knowledge of data sets. Unlike many other competitors who rely on user-sourced data, Commerce.AI boasts a proprietary analytics engine with access to Amazon, Walmart, Target, and other important unstructured data sources.
This combined with their diverse product strategy, market intelligence, and research insights features means that Commerce AI is a one-stop-shop for those who need to reduce the workload traditionally associated with perfecting a product's strategy.
Excited by this technology's potential for creating new opportunities for rapid innovation in marketing and business development in the global marketplace, many Fortune 500 companies have already begun leveraging this innovative tech tool to redefine how they design products and segment customers.
Commerce AI offers an in-depth understanding of thousands of product segments, reached through their unmatched dataset - which is precisely what merchants need to stay ahead of increasing competition in today's global marketplace.
Qualtrics—The “Do It Yourself” Solution
Qualtrics is a service that lets anyone make their own surveys and analyze data without having any expertise in programming; it's useful for people who have an idea and want some real numbers behind their marketing plan.
The problem with traditional text surveys is that they often result in low-quality data, are inefficient, and have low response rates. They often result in low-quality data because people don't take time to truthfully answer every question, and are often jumping through to get an incentive at the end, like a small gift card.
Further, they are inefficient because respondents are not always relevant enough to answer the questions properly, which means that getting the right data from the right people takes far too long. They have low response rates because of this as well.
Unlike services like Qualtrics, which rely on users to provide data themselves ("do it yourself") – Commerce.AI brings the data directly to clients. The reduction in time spent pulling together this information is substantial, but also the speed that reports are generated can make all the difference between fighting or getting eaten alive in an industry that moves fast and moves constantly.
The best way to get product data is from the source, which means going directly to sellers like Amazon, Walmart, Target, or other commerce firms. This will give you a more accurate representation of what people are actually buying. It will also be easier to compile the data because you will have a single source for all the information. Commerce.AI’s data engine has processed over a trillion data points from these sources.
Voice Surveys versus Text Surveys
Let’s face it: text surveys are a bore. Text surveys take too much time, effort, and deliberation to complete, which results in low completion rates and low-quality responses.
On the other hand, voice surveys are livelier, more immediate, and more interactive. Voice is the most natural way to communicate, as it comes across as a friendlier and faster option than a stale text survey.
Qualtrics is a well-known solution in the text surveys space, and for good reason: They have everything you need to easily run and analyze text surveys. That said, it's a hands-on, "DIY" solution that requires businesses to take the time to gather data, which may not always be relevant or high-quality.
With Commerce.AI, you can run voice surveys, which are shown to be more engaging compared to traditional text surveys. Beyond that, Commerce.AI provides businesses with a massive data engine that has analyzed over a trillion product data points, so they don't need to go out and collect the data themselves.