Summary of Innovating Analytics

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Rating

7 Overall

8 Applicability

8 Innovation

6 Style


Recommendation

Analytic expert Larry Freed’s admirable passion for improving companies’ understanding of customer satisfaction and experience emerges in his clear, useful and somewhat curious treatise. He champions the Word-of-Mouth Index (WoMI) of customer satisfaction at great length. If WoMI is as superior as he indicates, a few examples might suffice, so the energy he spends condemning the alternative, NPS, feels a bit excessive. But Freed’s focus on understanding customers’ perspective, establishing accurate metrics, gathering precise data and putting it in a meaningful context proves relevant and necessary. getAbstract recommends his book to those who need to make informed decisions on measuring and profiting from customer satisfaction.

In this summary, you will learn

  • What flaws limit the Net Promoter Score metric;
  • Why the Word-of-Mouth Index is a more useful tool; and
  • What methods you can use to measure, understand and profit from customer experience.
 

About the Author

Larry Freed, author of Managing Forward, is CEO of ForeSee, an analytics firm focusing on customer experience.

 

Summary

Measure Once
You need a new set of metrics to measure your customers’ satisfaction with your business. Today’s constantly increasing rate of change produces new evolutionary pressures on businesses. New metrics can help your company adapt to this ferocious rate of change. This matters...

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