- Outcome 1 1 – A New Calculator Application Usage Experience Chart
- Outcome 1 1 – A New Calculator Application Usage Experience Level
May 23, 2018 Using this technique, they developed an online lung cancer outcome calculator to estimate the risk of mortality after 6 months, 9 months, 1 year, 2 years and 5 years of diagnosis. In addition to predicting survival, machine learning techniques have also been used to identify patients with cancer. Jan 01, 2013 This page is from my old website, and it is sort of popular, so I've moved it here. A USB HID report descriptor is one of the descriptors that a USB host can request from a USB device. HID devices send data to the host using reports, and the descriptor tells the host how to interpret the data. 1 talent.linkedin.com Recruiting Metrics Cheatsheet 3 The application completion rate helps measure the success of your job application platform and process. It is based on the number of candidate interactions with your job applicant process and platform. Why is this important? Possible Outcomes Calculator. The chances of an event to occur is called as the possible outcome. Consider, you toss a coin once, the chance of occurring a head is 1 and chance of occurring a tail is 1. Hence, the number of possible outcomes is 2. Selecting items from a set without considering the order is called as combination.
In management literature, gap analysis involves the comparison of actual performance with potential or desired performance.[1] If an organization does not make the best use of current resources, or forgoes investment in capital or technology, it may produce or perform below an idealized potential. This concept is similar to an economy's production being below the production possibilities frontier.
Gap analysis identifies gaps between the optimizedallocation and integration of the inputs (resources), and the current allocation-level. This reveals areas that can be improved. Gap analysis involves determining, documenting and improving the difference between business requirements and current capabilities. Gap analysis naturally flows from benchmarking and from other assessments. Once the general expectation of performance in an industry is understood, it is possible to compare that expectation with the company's current level of performance. This comparison becomes the gap analysis. Such analysis can be performed at the strategic or at the operational level of an organization.
Gap analysis is a formal study of what a business is doing currently and where it wants to go in the future. It can be conducted, in different perspectives, as follows:
The relation between design thinking and innovation (figure content modified from IDEO) Improving the innovation capabilities. Design thinking follows similar stages like the critical thinking, it starts with a diversion of ideas that can be discussed and examined during the conversion stage that tends select the idea before moving to the prototyping stage.
- Organization (e.g., Human Resources)
- Business direction
Gap analysis provides a foundation for measuring investment of time, money and human resources required to achieve a particular outcome (e.g. to turn the salary payment process from paper-based to paperless with the use of a system). Note that 'GAP analysis' has also been used[by whom?] as a means of classifying how well a product or solution meets a targeted need or set of requirements. In this case, 'GAP' can be used as a ranking of 'Good', 'Average' or 'Poor'. (This terminology appears in the PRINCE2 project management publication.)
Gap analysis and new products[edit]
The need for new products or additions to existing lines may emerge from portfolio analysis, in particular from the use of the Boston Consulting Group Growth-share matrix—or the need may emerge from the regular process of following trends in the requirements of consumers. At some point, a gap emerges between what existing products offer and what the consumer demands. The organization must fill that gap to survive and grow.
Gap analysis can identify gaps in the market. Thus, comparing forecast profits to desired profits reveals the planning gap. This represents a goal for new activities in general, and new products in particular. The planning gap can be divided into three main elements: usage gap, existing gap, and product gap.
Usage gap[edit]
The usage gap is the gap between the total potential for the market and actual current usage by all consumers in the market. Data for this calculation includes:
- Market usage
- Existing usage
Existing usage[edit]
Existing consumer usage makes up the total current market, from which market shares, for example, are calculated. It usually derives from marketing research, most accurately from panel research, but also from adhoc work. Sometimes it may be available from figures that governments or industries have collected. However, these are often based on categories that make bureaucratic sense but are less helpful in marketing terms. The 'usage gap' is thus:
- usage gap = market potential – existing usage
This is an important calculation. Many, if not most, marketers accept existing market size—suitably projected their forecast timescales—as the boundary for expansion plans. Though this is often the most realistic assumption, it may impose an unnecessary limit on horizons. For example: the original market for video-recorders was limited to professional users who could afford high prices. Only after some time did the technology extend to the mass market.
In the public sector, where service providers usually enjoy a monopoly, the usage gap is probably the most important factor in activity development. However, persuading more consumers to take up family benefits, for example, is probably more important to the relevant government department than opening more local offices.
Usage gap is most important for brand leaders. If a company has a significant share of the whole market, they may find it worthwhile to invest in making the market bigger. This option is not generally open to minor players, though they may still profit by targeting specific offerings as market extensions.
All other gaps relate to the difference between existing sales (market share) and total sales of the market as a whole. The difference is the competitor share. These gaps therefore, relate to competitive activity.
Product gap[edit]
The product gap—also called the segment or positioning gap—is that part of the market a particular organization is excluded from because of product or service characteristics. This may be because the market is segmented and the organization does not have offerings in some segments, or because the organization positions its offerings in a way that effectively excludes certain potential consumers—because competitive offerings are much better placed for these consumers.
This segmentation may result from deliberate policy. Segmentation and positioning are powerful marketing techniques, but the trade-off—against better focus—is that market segments may effectively be put beyond reach. On the other hand, product gap can occur by default; the organization has thought out its positioning, its offerings drifted to a particular market segment.
The product gap may be the main element of the planning gap where an organization can have productive input; hence the emphasis on the importance of correct positioning.
Use to develop a better process[edit]
A gap analysis can also be used to analyze gaps in processes and the gulf between the existing outcome and the desired outcome.This step process can be illustrated by the example below:
- Identify the existing process: fishing by using fishing rods
- Identify the existing outcome: we can manage to catch 20 fish per day
- Identify the desired outcome: we want to catch 100 fish per day
- Identify and document the gap: it is a difference of 80 fish
- Identify the process to achieve the desired outcome: we can use an alternative method such as using a fishing net
- Develop the means to fill the gap: acquire and use a fishing net
- Develop and prioritize Requirements to bridge the gap[2]
A gap analysis can also be used to compare one process to others performed elsewhere, which are often identified through benchmarking. In this usage, one compares each process side-by-side and step-by-step and then notes the differences. One then analyzes each deviation to determine if there is any benefit to changing to the alternate process. The results of this analysis (in the context of the benefits and detriments of changing processes) may support the maintenance of the current process, the wholesale adoption of an alternate process, or a fusion of different aspects of each process.
See also[edit]
References[edit]
- ^The Complete Guide to Gap Analysis Published by Smartsheet.com and consulted on June 19, 2019
- ^'Business Analyst | Do We Need a Mature GAP Analysis?'. Clients.criticalimpact.com. Archived from the original on 2013-01-20. Retrieved 2016-02-01.
9 min read
Customer satisfaction is an essential ingredient for business success. Here's how to quantify and track it using the CSAT metric.
What is CSAT?
CSAT is short for customer satisfaction score. It's a commonly used metric that acts as a key performance indicator for customer service and product quality in all kinds of businesses. While customer satisfaction as an idea is a general one, CSAT is a more defined metric that's expressed as a percentage. 100% would be fantastic – 0% would be terrible.
How do you measure CSAT?
CSAT is measured through customer feedback. This is gathered via one or more variations of this question:
'How would you rate your overall satisfaction with the [goods/service] you received?'
Respondents use the following 1 to 5 scale:
- Very unsatisfied
- Unsatisfied
- Neutral
- Satisfied
- Very satisfied
The results can be averaged out to give a Composite Customer Satisfaction Score, although CSAT scores are more usually expressed as a percentage scale.
The most common way to elicit feedback is through a survey, be it a traditional questionnaire, an ident, popup or persistent form on a website, inside an app, via SMS or some other method.
Find out more about CSAT surveys.
Get our free customer satisfaction survey template
Instant DownloadCalculating CSAT
To calculate a CSAT score from your survey data, you'll use the responses of 4 (satisfied) and 5 (very satisfied). It has been shown that using the two highest values on feedback surveys is the most accurate predictor of customer retention.
To do this calculation you'll also need to know the total number of responses you've received. This number is easy to locate if you're running your customer feedback program through a centralized platform.
Use this formula to arrive at a percentage score:
(Number of satisfied customers (4 and 5) / Number of survey responses) x 100 = % of satisfied customers
When should you measure CSAT?
So when should you ask customers for feedback on their experience? The answer may depend on what kind of product or service you provide. For discrete interactions, such as a phone call to your contact center, it makes sense to ask for feedback immediately afterward so that the conversation is fresh in the person's mind.
For an experience that's going to persist over time, such as a subscription or an item for long-term use like a tool or an item of furniture, you may want to give the customer a little time (days or weeks) before asking for their thoughts, so they can appraise the purchase and see how it performs in different use cases.
Primarily though, CSAT is a 'right here, right now' metric that relates to a specific experience rather than an ongoing customer relationship.
You might ask a repeat customer for feedback on more than one occasion (although be sure not to overload the customer with feedback requests, as that can create its own problems).
What is a good CSAT score?
So you've implemented a CSAT survey and the results are in. But how do you know if your CSAT score is good? How should you set your expectations?
Benchmarking a CSAT score isn't an exact science, since every business and product is different, but you can get an idea of what's typical for your industry using resources like the ACSI (American Customer Service Index), which provides benchmark scores for industries, sectors, brands, and companies.
One thing is certain, however – if your score is moving from lower to higher, you're doing something right. To track your progress, you should measure CSAT on an ongoing basis by making CSAT a routine part of your customer experience program.
Outcome 1 1 – A New Calculator Application Usage Experience Chart
What are the pros and cons of CSAT?
Like all metrics, CSAT is just one piece of the puzzle when it comes to measuring business success. Here's what you need to know about its capabilities.
Pros of CSAT
- It's easy to measure
CSAT data can be captured in just one question with an easy rating scale format, which is quick and simple to administer across a range of channels.
- It's easy on your customers
Because of its brevity and simplicity, the CSAT question is low effort for customers, which reduces the chances of them burning out on it if you ask multiple times.
- It produces user-friendly data
Outcome 1 1 – A New Calculator Application Usage Experience Level
CSAT provides numerical data that's easy to process and analyze using a variety of statistical tests.
- It's widely known
Because CSAT has become a standard measure, it's possible to benchmark against other businesses or even use your great score in marketing and promotions.
Cons of CSAT
- It relies on self-reporting
Self-report data is famously very vulnerable to bias. Even with something as simple as a CSAT questionnaire, you may get skew in responses depending for example on someone's mood or life events.
- It's limited in depth and detail
CSAT is a blunt measure of positivity or negativity. It doesn't capture nuance or granularity in experiences.
- It's a one-person response
CSAT works well when someone has had an individual experience. But what about if they're responding on behalf of a family, a team, or even a whole business who are using the product or service?
- It's subject to response bias
People who respond to a CSAT request are likely to be those who have had a very positive or very negative experience. People who feel neutral may be less motivated to take the survey.
How does CSAT differ from Net Promoter Score (NPS) and Customer Effort Score (CES)?
CSAT measures customer satisfaction with a product or service, whereas Net Promoter Score (NPS) measures customer loyalty to the organization. CES (Customer Effort Score) meanwhile, measures how easy or difficult a customer has found it to complete their tasks with you.
CSAT targets a 'here and now' reaction to a specific interaction, product, or event, but it is limited when it comes to measuring a customer's ongoing relationship with a company.
CSAT can also be used in multiple contexts to focus on specific parts of the customer experience, e.g., 'How would you rate your overall satisfaction with the telephone service you received/helpfulness of assistant/delivery?''
Conversely, the NPS's single-question loyalty measure, 'How likely is it that you would recommend [Organization X/Product Y/Service Z] to a friend or colleague?' asks customers to take a much wider view of the brand or product, and focuses on their intention, rather than their overall feeling of satisfaction.
CES complements the two, adding an extra dimension to the CSAT experience data and helping to predict the likelihood of future loyalty from customers. Like the others, it's a single-question metric with a scale of possible responses.
How to use CSAT
CSAT, like NPS, is a measure of customer experience. But knowing the status of your CX performance is just the first step. It's what you do with the scores to drive and improve that experience that really counts.
CSAT (and CES and NPS) scores should be supplemented with further qualitative research to understand the drivers behind the scores so you can take action to improve customer experience (and as a result, your business outcomes).
Learn more about building your CX management program
Linking CSAT to revenue
When you understand how satisfaction relates to revenue, you can start to make an impact. Tracking overall profitability by customer is called Customer Lifetime Value and it's the next step in your journey to making customer experience a long-term business success strategy.
Maximizing satisfaction within each customer journey can have the following impact on your business:
Use our free CSAT survey template to start measuring CSAT in your business