Innovating Analytics and over 2 million other books are available for Amazon Kindle . Learn more


or
Sign in to turn on 1-Click ordering.
Trade in Yours
For a 1.44 Gift Card
Trade in
More Buying Choices
Have one to sell? Sell yours here
Sorry, this item is not available in
Image not available for
Colour:
Image not available

 
Start reading Innovating Analytics on your Kindle in under a minute.

Don't have a Kindle? Get your Kindle here, or download a FREE Kindle Reading App.

Innovating Analytics: Word of Mouth Index- Use the Next Generation of Net Promoter to Increase Sales and Drive Results [Hardcover]

Larry Freed
5.0 out of 5 stars  See all reviews (1 customer review)
RRP: 17.99
Price: 11.20 & FREE Delivery in the UK. Details
You Save: 6.79 (38%)
o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o
Only 3 left in stock (more on the way).
Dispatched from and sold by Amazon. Gift-wrap available.
Want it Tuesday, 22 April? Choose Express delivery at checkout. Details

Formats

Amazon Price New from Used from
Kindle Edition 10.08  
Hardcover 11.20  
Trade In this Item for up to 1.44
Trade in Innovating Analytics: Word of Mouth Index- Use the Next Generation of Net Promoter to Increase Sales and Drive Results for an Amazon.co.uk gift card of up to 1.44, which you can then spend on millions of items across the site. Trade-in values may vary (terms apply). Learn more

Book Description

5 Nov 2013
How does a CEO, manager, or entrepreneur begin to sort out what defines and drives a good customer experience and how it can be measured and made actionable? If you know how well the customer experience is satisfying your customers and you know how to increase their satisfaction, you can then increase sales, return visits, recommendations, loyalty, and brand engagement across all channels. More reliable and more useful data leads to better decisions and better results. Innovating Analytics is also about the need for a comprehensive measurement ecosystem to accurately assess and improve the other elements of customer experience. This is a time of great change and great opportunity. The companies that use the right tools and make the right assessments of how to satisfy their customers will have the competitive advantage. Innovating Analytics introduces an index that measures a customer’s likelihood to recommend and the likelihood to detract. The current concept of the Net Promoter Score (NPS) that has been adopted by many companies during the last decade—is no longer accurate, precise or actionable. This new metric called the Word of Mouth Index (WoMI) has been tested on hundreds of companies and with over 1.5 million consumers over the last two years. Author Larry Freed details the improvement that WoMI provides within what he calls the Measurement Ecosystem. He then goes on to look at three other drivers of customer satisfaction along with word of mouth: customer acquisition, customer loyalty, and customer conversion.

Special Offers and Product Promotions


Frequently Bought Together

Innovating Analytics: Word of Mouth Index- Use the Next Generation of Net Promoter to Increase Sales and Drive Results + The Ultimate Question 2.0 (Revised and Expanded Edition): How Net Promoter Companies Thrive in a Customer-Driven World
Buy the selected items together


Product details

  • Hardcover: 288 pages
  • Publisher: John Wiley & Sons (5 Nov 2013)
  • Language: English
  • ISBN-10: 1118779487
  • ISBN-13: 978-1118779484
  • Product Dimensions: 23.1 x 16.1 x 2.8 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: 496,417 in Books (See Top 100 in Books)
  • See Complete Table of Contents

More About the Author

Discover books, learn about writers, and more.

Product Description

Review

“Innovating analytics is critical in baseball, in politics, and in business. Larry Freed is at the forefront of developing useful new metrics that will help businesses succeed.” —Billy Beane , General Manager of the Oakland Athletics and the subject of the bestseller Moneyball . “Challenging conventional wisdom and building upon the wealth of  knowledge derived from one of the most widely used customer experience measurement tools in business today, Innovating Analytics is an essential addition to any marketer’s library. Clearly Larry Freed is  one of the leading minds in the customer experience industry, as he  thoughtfully offers tested and practical strategies that businesses  can implement immediately.”  — Bruce Rogers , Chief Insights Officer, Forbes Media " Innovating Analytics is a natural extension of Larry′s career–long exploration of innovative business solutions.”  —Thomas H. Zurbuchen , Associate Dean of Entrepreneurial Programs at the University of Michigan “Larry Freed and ForeSee are at the forefront of transforming business around the world with actionable, predictive metrics. Innovating Analytics contains critical information for any executive who wants to improve business outcomes.”  —Rick Snyder , Governor of the State of Michigan “Innovating Analytics is a compelling exploration of the potential power of customer experience metrics in the modern age. Larry Freed’s combination of academic research with practical business implementation makes this book a must–read for any business leader.”  —Mark Mahaney , Managing Director at RBC “Too many businesses are relying on metrics that are outdated and have no relationship to company growth and profit. Innovating Analytics is a must–read for any executive about the power of good metrics and the dangers of bad ones.”  —Claes Fornel l, Founder and Chairman of the ACSI and author of The Satisfied Customer

From the Inside Flap

A satisfying customer experience is the driver of any business's revenue growth. If you know how to measure and improve the customer experience, you will increase sales, return visits, recommendations, loyalty, and brand engagement across all channels. Over the past decade, Net Promoter Score, has become a Key Performance Indicator used by businesses all over the world, from small mom-and-pop shops to Fortune 500 giants. However, NPS has not kept pace with the evolving world of customer behavior and customer experience analytics. Enter the Word of Mouth Index (WoMI). Innovating Analytics introduces and explains WoMI, a metric that measures a customer's likelihood to recommend or to detract. Tested on hundreds of companies and more than 2 million consumers over the last two years, WoMI provides a more accurate and comprehensive measure of word of mouth and its impact on your business. Innovating Analytics goes on to examine the four drivers of business success, why the customer experience matters, and the value of the Customer Experience Measurement Ecosystem. Through detailed guidance, it explains: What NPS is, what it does well, and how it is flawed How to use WoMI to identify a business's promoters and detractors more accurately How to use behavioral data, feedback, observation, and satisfaction to predict customer behavior Best practices for improving customer experience How to use Big Data to improve the effectiveness of marketing and merchandising This is a time of great change and great opportunity, and businesses desperately need more reliable and more useful data in order to make better decisions and achieve better results. Innovating Analytics offers the right tools to make the right assessments of how to satisfy your customers and gain a competitive advantage today.

Inside This Book (Learn More)
Browse Sample Pages
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
Search inside this book:

Customer Reviews

4 star
0
3 star
0
2 star
0
1 star
0
5.0 out of 5 stars
5.0 out of 5 stars
Most Helpful Customer Reviews
By Robert Morris TOP 500 REVIEWER
Format:Hardcover
As Larry Freed explains, "I introduce a powerful new metric we developed at ForeSee called Word-of-Mouth Index (WoMI), which incorporates and builds on a widespread metric of customer loyalty and customer satisfaction called Net Promoter Score (NPS). [Introduced by Fred Reichheld,] NPS has many strengths but just as many weaknesses and has outlived its usefulness as a metric. This book is also about the need for a comprehensive customer experience measurement ecosystem in addition to WoMI to accurately assess and improve the other elements of customer experience."

My own opinion is that many (most?) smaller businesses do not use any metric - much less a system - to measure customer loyalty and customer satisfaction. I also think that, for many of those companies, NTS will be sufficient to their needs. That said, WoMI does seem to offer more, as Freed explains within his narrative, but as noted, he also recommends "a comprehensive customer experience measurement ecosystem in addition to WoMI" and devotes an entire chapter, Chapter 7, to explaining what one would be and do.

These are among the dozens of business subjects and issues of special interest and value to me, also listed to indicate the scope of Freed's coverage.

o Accelerated Darwinism (Pages 10-13)
o Net Promoter Score (NPS): Flaws (21-31)
o Word of Mouth Index (WOMI) Overview (33-51)
o Four Drivers of Business Success (53-56)
o Mini-Interview: Stephanie Bottner(71-72)
o Measuring the Customer Experience at the Brand Level (81-87)
o Mini-Interview: Josh Chapman, Cars.com (93-95)
o Eric Feinberg: Mobile Context, Location, and Intent (105-106)
o Voice of Customer Measurement (118-120)
o Mini-Interview: Mario Castrano, Nikon Inc.
Read more ›
Comment | 
Was this review helpful to you?
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 5.0 out of 5 stars  6 reviews
5 of 5 people found the following review helpful
5.0 out of 5 stars Innovating Analytics = Your Company's Competitive Advantage 4 Oct 2013
By Michael L Hanson - Published on Amazon.com
Format:Kindle Edition|Verified Purchase
How does your business define success? Whether you have shareholders, are privately held, or serve the public - chances are you and your teams are charged with driving revenue increases or creating operational efficiencies. In order to achieve success at either concept you must manage a variety of variables both operationally and strategically to improve your customer's experience. The successful management of your business is defined by your decision making system - which, if informed by a partial metric, like NPS, presents an expensive if futile effort to efficiently drive results. You cannot effectively manage what is not being properly measured. And with a forward looking perspective ... if you're not properly measuring your customer experience you are effectively ceding a robust competitive advantage.

Larry Freed, CEO of ForeSee - the leading customer experience analytics firm, details his organization's successful efforts to improve upon NPS with the Word of Mouth Index to clarify the accuracy of that widely leveraged corporate KPI. The concept of True Promotors and True Detractors will enable organizations small and large (as detailed by interviews in the book) to drive results much more effectively rather than wasting efforts in areas that deliver no return.

Mr. Freed further details that in order to successfully drive results you must deliver on 2 if not 3 fundamental concepts in business: Customer Retention, Customer Upsells, Customer Acquisition, and Word of mouth Acquisition. Which presents an interesting challenge for leadership, management, and operational employees - if we're only measuring word of mouth (and, quite frankly, not too accurately with NPS - the ForeSee Word of Mouth Index is much more accurate and reliable) then how can we truly improve and drive results efficiently?

At the end of the day, the satisfaction that your customer's and prospective customer's have with your multichannel touch points will be predictive of your company's success. The impact that satisfaction has on revenue or desired operational behaviors has been time tested and proven to have a cause and effect relationship. In fact, Word of Mouth, is a direct result or effect of satisfaction. If you're not measuring satisfaction to understand how you're performing, what you should improve upon, and why you should do it then you are making business decisions and leading your organization leveraging hypothesis, guesswork, and correlated analytics rather than cause and effect decision making systems.

Innovating Analytics was a highly enlightening management book and should be required reading for any leader or manager (and all of you aspiring MBA students!). Definitely a 5 Star read! Make sure to review the Diagrams, Case Studies, and Appendices (Larry should be charging double for the book with the amount of free research, benchmarking, and proof points that are provided).
3 of 3 people found the following review helpful
5.0 out of 5 stars How and why the best innovations in customer experience analytics can create a decisive competitive advantage 26 Nov 2013
By Robert Morris - Published on Amazon.com
Format:Hardcover
As Larry Freed explains, "I introduce a powerful new metric we developed at ForeSee called Word-of-Mouth Index (WoMI), which incorporates and builds on a widespread metric of customer loyalty and customer satisfaction called Net Promoter Score (NPS). [Introduced by Fred Reichheld,] NPS has many strengths but just as many weaknesses and has outlived its usefulness as a metric. This book is also about the need for a comprehensive customer experience measurement ecosystem in addition to WoMI to accurately assess and improve the other elements of customer experience."

My own opinion is that many (most?) smaller businesses do not use any metric - much less a system - to measure customer loyalty and customer satisfaction. I also think that, for many of those companies, NTS will be sufficient to their needs. That said, WoMI does seem to offer more, as Freed explains within his narrative, but as noted, he also recommends "a comprehensive customer experience measurement ecosystem in addition to WoMI" and devotes an entire chapter, Chapter 7, to explaining what one would be and do.

These are among the dozens of business subjects and issues of special interest and value to me, also listed to indicate the scope of Freed's coverage.

o Accelerated Darwinism (Pages 10-13)
o Net Promoter Score (NPS): Flaws (21-31)
o Word of Mouth Index (WOMI) Overview (33-51)
o Four Drivers of Business Success (53-56)
o Mini-Interview: Stephanie Bottner(71-72)
o Measuring the Customer Experience at the Brand Level (81-87)
o Mini-Interview: Josh Chapman, Cars.com (93-95)
o Eric Feinberg: Mobile Context, Location, and Intent (105-106)
o Voice of Customer Measurement (118-120)
o Mini-Interview: Mario Castrano, Nikon Inc. (121)
o Best Customer Experience Practices: Amazon, Zappos, Panera, and Eddie Bauer (123-139)
o The World of Big Data, (162-164)
o The Trap of Big Data (168-170)
o Afterword: Measuring Customer Experience (172-172)

Freed also provides valuable supplementary resources in five indices, Pages 173-174. For example, he identifies and then discusses "Eleven Common Measurement Mistakes" in Appendix C, developing in somewhat greater depth previously cited comparisons and contrasts of WOMI and NPS.

Of special interest to me are the reader-friendly devices that Freed uses with uncommon skill. They include various illustrations (e.g. Figure 4.3 "Benchmarking with NPS and WoMI"), checklists of key points or stages of a sequence, and best of all, mini-interviews of real people who discuss real issues in their own business situations. For example, Jason Faria (ideeli), Stephanie Bottner (Pear Tree Greetings), and Mario Castano (Nikon, Inc.) who discuss their experiences with both NTS and WoMI.

I realize that no brief commentary such as mine can do full justice to the nature and extent of information, insights, and counsel that Larry Freed provides in abundance. However, I hope I have given at least some indication of why I hold his book in high regard.
3 of 3 people found the following review helpful
5.0 out of 5 stars Measure Your Customers The RIGHT Way - an Actionable Way 16 Oct 2013
By wdb - Published on Amazon.com
Format:Kindle Edition|Verified Purchase
Word of Mouth is critical for a business.
The whole concept about finding your true promoters and true detractors takes NPS to the next level. I am by nature a promoter of things I really like, and on the flip side, I tell everyone if I don't like something. There are things I will promote (a great book, delicious restaurant), and there are things my nature I will not promote (Life Insurance, toilet paper, toothpaste) however, if someone asked me about a certain brand of toilet paper - I will detract them from the sandpaper brand.
In every business - no matter what it is - Finding your true promoters and true detractors and obtaining real actionable insights on how to move the needle within those groups of customers is invaluable - the Word of Mouth Index is groundbreaking - It truly is the next generation of NPS.
2 of 2 people found the following review helpful
5.0 out of 5 stars Wholistic approach to measuring Word of Mouth and customer insights 21 Oct 2013
By Stephanie Bottner - Published on Amazon.com
Format:Hardcover
Freed has done a nice job of making what was once the 'soft science' of consumer insights into something measurable and meaningful. One of the more meaningful points about NPS he makes that really hit home for me was when his research showed a 10 point margin of error for NPS - so if your score is a 20, then in reality, that's anywhere from a 10 to a 30. He spoke of a leader who said as long as it was directional, then the NPS was good enough. Yet with this kind of margin of error, the point is clear that no leader should be accepting such a wide margin because how can you really tell if you've made an improvement? How can you really tell if you're ahead of or behind your competition? A KPI is not useful unless it's accurate and NPS simply isn't accurate.

Today's leadership needs to more and more precise with measurement; 'directional' KPIs are no longer effective with the power so much in consumers' hands. This book provides a structure that builds on the wildly popular NPS methodology already integrated in many of the top Fortune 500 companies - but it does so by adding the true statistical power of WOMI.
2 of 2 people found the following review helpful
5.0 out of 5 stars Must read for business leaders and anyone responsible for customer experience 18 Oct 2013
By JOSHUA C CHAPMAN - Published on Amazon.com
Format:Hardcover
As technology continues to evolve the barriers for consumers to switch brands are minimized. This will only continue and it's vital that companies leverage tools that will help them understand what drives customer loyalty; and where they need to focus their efforts to increase loyalty. Innovating Analytics is a powerful overview of the newest concepts that measure loyalty and shows beyond a shadow of a doubt that old, outdated, measures are not nearly as accurate as once believed. Those who read this book and take action based on it will have a significant competitive advantage. For those who don't, they'll be left behind.
Were these reviews helpful?   Let us know
Search Customer Reviews
Only search this product's reviews
ARRAY(0xa896e930)

Customer Discussions

This product's forum
Discussion Replies Latest Post
No discussions yet

Ask questions, Share opinions, Gain insight
Start a new discussion
Topic:
First post:
Prompts for sign-in
 

Search Customer Discussions
Search all Amazon discussions
   


Look for similar items by category


Feedback