New products keep customers interested-but organisations need more than good instincts to develop successful products. Creating and launching profitable products and services requires a thorough understanding of customers and the market.
IBM SPSS predictive analytics applications enable retailers to know, for example, which product attributes matter most to customers, and to identify areas of product need.
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With predictive insight, retailers can:
- Use Presidion survey research solutions to gather information about customer preferences and perceptions.
- Analyse customer communications, such as e-mails and call center transcripts, to identify areas of need.
- Determine the most preferred product attributes of specific customer segments.
- Accurately predict product demand to better manage production and distribution.