Kapiche is a company that focuses on customer feedback analytics in the data analysis industry. The company offers a platform that ingests and analyzes large amounts of customer feedback data, providing insights that can help improve a company's performance. The platform is primarily used by the retail, software, and financial services industries. It was founded in 2015 and is based in Fortitude Valley, Queensland.
Expert Collections containing Kapiche
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Kapiche is included in 2 Expert Collections, including Market Research & Consumer Insights.
Market Research & Consumer Insights
This collection is comprised of companies using tech to better identify emerging trends and improve product development. It also includes companies helping brands and retailers conduct market research to learn about target shoppers, like their preferences, habits, and behaviors.
Companies developing artificial intelligence solutions, including cross-industry applications, industry-specific products, and AI infrastructure solutions.
Latest Kapiche News
Nov 3, 2023
Understanding the Power of Feedback Analytics Feedback analytics is the process of collecting, analyzing, and interpreting feedback data from various sources, such as customer surveys, social media comments, online reviews, and customer support interactions. When used effectively and in the right context, feedback analytics can transform your ability to make data-driven decisions—as long as it’s integrated and balanced against other input. Critics of feedback analytics might argue that it’s possible to rely too heavily on customer feedback. They’ll say things like: Doing this will stifle innovation and create a conservative, risk-averse culture (because you don’t want to upset customers). We’re focusing too much on incremental improvements rather than pursuing breakthrough innovations. A myopic view of customer feedback is stopping us from developing a holistic understanding of the market. None of that has to be the case, though. The power of feedback analytics lies in using it contextually, appropriately, and with external validation. Five ways to use feedback analytics to drive innovation and growth Personalization and customization 91% of consumers are more likely to shop with brands that recognize, remember, and provide relevant offers and recommendations. You see this in practice everywhere. When you open YouTube, Netflix, or Amazon, your homepage is filled with suggestions tailored to your preferences. You rarely have to invest effort in finding the next show to watch or item to buy, because each of these businesses already knows your likes and interests. Feedback analytics typically focuses on things like analyzing unstructured text. While capturing data on a customer’s past behavior or product usage don’t quite fit that category, these things are like the two wheels on a bicycle: lose one and you’re stuck. Say your customer bought a sweater from your ecommerce store. Great! You now know they like sweaters, they wear a women’s medium, and they like the color green. But then a month later they leave a review: “This sweater was the perfect Mother’s Day gift! My mother thinks it’s super cozy, and she loves the shade of green it comes in.” Oops. You’ve just learned—through feedback analytics—that all of the “personalized data” you gathered on this customer was inaccurate. Each of those things apply to their mother, not to them. ”Analyzing what your customers have done and what your customers have said together is the only way to get the full picture of who your customers are.” Predictive analytics Feedback analytics can help you anticipate customer needs and behavior. It’s powerful, but predictive analytics isn’t an exact science and usually requires leaving room for error. Combining customer feedback with purchase info, browsing history, or engagement metrics can fill in the blanks. If you’re a SaaS company and a customer shows behaviors that indicate decreased product engagement. Not good. Then—in a totally different tool—you also see they’ve reached out to your support team multiple times about product issues. Really not good. Combining and analyzing these two sources of data through feedback analytics can give you the information you need to make changes proactively and retain that customer. Real-time feedback Agile environments thrive on fast and frequent iterations. Sometimes that means it’s valuable to stop the roll-out of a new feature because of a technical issue that wasn’t caught during testing. Other times that means capitalizing on a great opportunity to produce more of a product or extend an event because your customers have received it so positively. The only way to react quickly enough in these situations is to use feedback analytics. But analyzing feedback manually is incredibly time-consuming. By the time you know how to react, it’s often too late. Gathering real-time insights through a modern customer feedback analytics tool enables you to make those impactful decisions quickly and confidently. Data-driven decision-making There’s a huge correlation between data maturity and business success. McKinsey suggests that data-driven organizations are: 23 times more likely to acquire customers. 6 times more likely to retain customers. 19 times more likely to be profitable. And it’s easy to understand why—data is the ultimate objective validation of anything you want to do. Feedback analytics enables you to access a giant pool of data that is otherwise only shared as individual anecdotes or in a broad statistic that doesn’t teach you anything. Imagine the wealth of information in your customer surveys, support inbox, or online reviews. If you aren’t combining and analyzing that data effectively, you’re forced to make decisions without the complete picture. It’s easy to talk about wanting to be “data-driven” as an organization. But the only way to tap into the power of feedback analytics is to invest the time, effort, and money to building out a great analytics program. Idea generation and validation While it’s true that customer feedback might not provide you with that innovative and unheard-of solution that will make or break your business, customers are very good at telling you what isn’t working. our customers are experts in their own paint points. And feedback analytics teaches you how to listen. Ten customers might send you ten different feature requests explaining how that feature would help them. At first glance, these seem unrelated. If your support team manually categorizes feature requests, they might list them all as different features. But what if there was an overlap between the pain points each customer experienced that made them send in the request? Feedback analytics can easily show you these connections because it helps you identify patterns in your huge amount of customer feedback. Your team can use it to generate new ideas and validate customer interest, enabling you to make smarter bets. You might say it’s the difference between playing roulette—a game of total chance—and playing poker, which involves both chance and skill. Feedback analytics unlock deeper customer insights Your organization is probably already comfortable working with data and tracking essential business KPIs. Once you’ve laid that foundation, you’ll find that feedback analytics can provide a depth of understanding that’s hard impossible to achieve without it. It helps you dive into the wealth of unstructured data available to you, enabling you to understand nuances, identify emerging patterns, and uncover root causes. Feedback analytics makes you customer-centric by giving you access to your customers’ thoughts in their own words. It removes bias and lets you combine quantitative data with qualitative insights. Ultimately, feedback analytics gives you the “why” behind the “what.” About the Author Ryan Stuart is the co-founder and CEO of Kapiche , a new wave insights and analytics platform for customer insights and research teams. With more than 15 years experience in Natural Language Processing and its application in Customer Experience, Ryan is deeply passionate about using data and technology to make better business decisions. Kapiche is revolutionizing customer intelligence to create a world where organisations make human-centric decisions & every voice is heard. Kapiche has grown into one of the most in-demand technologies in the Australian customer insights space, and has recently launched into the North American market with customers that include Zappos, Nextdoor, Cox Communications, Toyota, Target, Wolverine Worldwide, Colorado Tech University and Basalm Brands. Sign up for the free insideBIGDATA newsletter . Join us on Twitter: https://twitter.com/InsideBigData1 Join us on LinkedIn: https://www.linkedin.com/company/insidebigdata/ Join us on Facebook: https://www.facebook.com/insideBIGDATANOW In this sponsored post, Devika Garg, PhD, Senior Solutions Marketing Manager for Analytics at Pure Storage, believes that in the current era of data-driven transformation, IT leaders must embrace complexity by simplifying their analytics and data footprint. Data pipelines allow IT leaders to optimize data and maximize value for faster analytic insights. When paired with the right storage solution, IT leaders can modernize their pipelines and consolidate data into a central and accessible layer – breaking through silos and delivering the real-time insights that drive true business advantage. Modern data analytics fuel digital-first organizations to unlock faster insights – is your infrastructure keeping pace? White Papers
Kapiche Frequently Asked Questions (FAQ)
When was Kapiche founded?
Kapiche was founded in 2015.
Where is Kapiche's headquarters?
Kapiche's headquarters is located at Level 3, Fortitude Valley.
What is Kapiche's latest funding round?
Kapiche's latest funding round is Seed VC.
How much did Kapiche raise?
Kapiche raised a total of $1.18M.
Who are the investors of Kapiche?
Investors of Kapiche include River City Labs, Queensland Government, Main Sequence, Transition Level Investments and Microsoft ScaleUp.
Who are Kapiche's competitors?
Competitors of Kapiche include Relevance AI, Chattermill, Wordnerds, Idiomatic, Clarabridge and 7 more.
Compare Kapiche to Competitors
Qualtrics specializes in experience management software. The company offers a range of products to help businesses improve their customer service, employee engagement, and product development processes. Its products provide solutions for contact centers, people teams, and strategy and research, enabling businesses to deliver better experiences across digital and physical touchpoints, engage teams, improve manager effectiveness, and design products that people love. It was founded in 2002 and is based in Provo, Utah.
Thematic is a company that focuses on feedback analytics in the technology sector. The company offers an AI-powered platform that transforms customer feedback into actionable insights, helping businesses understand their customers better and identify areas for improvement. Thematic primarily serves sectors such as product management, customer experience, support operations, and insights & research. It was founded in 2016 and is based in Auckland, New Zealand.
Medallia (NYSE: MDLA) provides customer experience management software for companies to capture customer feedback and deliver insights. The software provides insights to improve customer experience, contact center experience, employee experience and digital experience. It serves industries such as automotive, healthcare, energy, and more. The company was founded in 2001 and is based in San Francisco, California.
Idiomatic translates customer feedback into easily understandable insights to improve customer experience. It helps companies to make product and customer service decisions. It helps companies to drive dramatic gains in customer growth and loyalty. The company was founded in 2015 and is based in Palo Alto, California.
Keatext is a company that focuses on text and sentiment analysis in the technology sector. The company offers a platform that analyzes customer feedback such as reviews, surveys, and support tickets, providing AI-based recommendations to improve customer satisfaction. Keatext primarily serves the customer experience and marketing sectors. It was founded in 2010 and is based in Montreal, Quebec.
Chattermill uses artificial intelligence to help large organizations understand and improve interaction with their consumers. It offers customer feedback analytics, product feedback analytics, product tour, customer support analytics, and more. It serves the travel, finance, e-commerce, and other sectors. The company was founded in 2015 and is based in London, United Kingdom.