SurveyMonkey Launches New AI-Driven Analysis Features to Help Enterprise Customers Uncover Business Critical Insights
Survey software leader continues to invest in advanced analytics with the launch of powerful data analysis tool, aligning with data-driven business needs of large organizations and teams
San Mateo, Calif. - April 2, 2019 – SurveyMonkey (Nasdaq: SVMK), a leading global survey software company, announced today that it has expanded the survey text analysis capabilities of its product platform with new AI-based features that utilize machine learning and natural language processing technology. The text analysis features help to uncover dynamic, visually impactful insights with minimal effort and time, aligning with SurveyMonkey’s enterprise customer base including teams and individuals at any level of an organization who rely on data to make timely, business critical decisions.
The newest feature on the SurveyMonkey platform includes Sentiment Analysis, which surfaces insights by automatically classifying text responses and displaying an aggregate view of respondent sentiment. One of the existing features—Word Cloud—has been upgraded to help customers effortlessly draw insights behind text responses by visualizing the most common words and phrases without manual coding or tagging data.
“SurveyMonkey uses its years of expertise to help customers gather feedback at scale and quickly translate data into actionable insights,” said Ross Moser, chief product officer at SurveyMonkey. “To that end, Sentiment Analysis and Word Cloud use natural language processing and machine learning to do the work for our customers by analyzing the data and displaying the insights in a visual, simple way. We’re continuing to invest heavily in advanced analytics so that our customers can have a powerful data storytelling tool at their fingertips.”
SurveyMonkey customers, like Box, have already had early access to the new Sentiment Analysis feature. SurveyMonkey found that over 40% of their customers’ surveys contain open-ended questions. Sentiment Analysis allows customers to analyze thousands of open-ended responses by using a tool that can read, process and filter through the comments instantly.
In a 2018 SurveyMonkey study that asked paid customers what product feature improvements they desired, 79% said they wanted better text analysis. As businesses become increasingly reliant on data to make timely, mission-critical decisions, the latest product updates bring stronger analytics capabilities, which allow businesses to turn data points into insights that effectively communicate problems and priorities—helping leaders drive change at scale and identify new opportunities.
Key product features include:
Sentiment Analysis: This new text analysis feature classifies responses as positive, neutral, negative or undefined—revealing the emotion behind what people are saying. Customers can filter responses by sentiment, making them easier to read and analyze.
Word Cloud: The latest version of Word Cloud effortlessly draws insights behind text responses by visualizing the most common words and phrases without manual coding or tagging. Word Cloud intelligently identifies singular and plural words, tense variation, and similar words and phrases, then groups them together to display as a single phrase. Customers can make their word clouds beautiful and shareable by customizing the font, colors and phrases, including hiding certain words and controlling how many words appear in the cloud.
These features build on the Results Dashboard feature that SurveyMonkey launched in 2018 to help customers tell and share a dynamic, impactful story with data visualizations created for them. SurveyMonkey will continue to focus on advancing their product data analytics capabilities in 2019.
Sentiment Analysis is available to paid customers, including Premier, Team Premier, and Enterprise accounts, and Word Cloud is available with all paid plans. Results Dashboard is available to all customers.
SurveyMonkey (NASDAQ: SVMK) is a leading global survey software company on a mission to power the curious. The company’s People Powered Data platform empowers over 17 million active users to measure and understand feedback from employees, customers, website and app users, and the market. SurveyMonkey’s enterprise solutions and integrations enable 98% of the Fortune 500 to solve daily challenges, from delivering better customer experiences to increasing employee retention. With SurveyMonkey, organizations around the world can transform feedback into business intelligence that drives growth and innovation.