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Trend Analysis

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What is Trend Analysis?

If you have a continuous survey that is running for a long time, trend analysis can help you evaluate your data effectively. By playing a pivotal role in the calculation and comparison of test or quiz scores, trend analysis enables you to keep a tab on your regularly distributed survey and identify the pattern in its data sets.

Example of Trend Analysis

Suppose a retail brand introduced a new collection of T-shirts for college-going students. By using trend analysis, they can identify customer buying behavior and how the collection is performing in different countries. 

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Where is Trend Analysis used?

Trend analysis is mostly used in cases where researchers want to evaluate the changes in responses (which likely happen due to respondents’ perceptions) or stay ahead of the trend shifts. It also helps to uncover the potential issues related to products or services that can have a lasting impact on customer choices.    

Using trend analysis empowers the brands to identify their target customers and understand their needs which further lets them make required changes in their products.  As the perception of customers matters more than ever, trend analysis helps them rightly identify and analyze the factors that contribute to customer satisfaction. This plays a crucial role in determining long-term product planning. Also, it lets businesses focus on the financial drivers related to their products/services so they can stay ahead of competitors by introducing better products at a relatively less price. 

See the Trend Analysis Questions in action

Check out how to use a Trend Analysis Question in a survey​

What are the advantages of Trend Analysis?

Future-forward Strategy and Plans: By keeping an eye on the new opportunities and continuously checking newcomers in the business, trend analysis empowers brands to formulate specific strategies that help to secure their market position. For example, if trend analysis reveals that customers prefer shopping online instead of brick and mortar stores, then you can focus on improving your digital services. Leveraging an effective trend analysis can help you switch from conventional brick and mortar stores to e-commerce platforms and optimize your budget accordingly.

 

Low-performing Area Analysis: By recognizing the low-performing divisions of a business, trend analysis acts as an early warning indicator for them. While you can seamlessly identify the promoters and detractors for your business by conducting Net Promoter Score surveys, an effective trend analysis can help in case there’s an increase in the number of detractors. By identifying the problem areas and resolving their specific issues (related to product/service), you can easily quantify the difference in results over time.  

Actionable Insights: Trend Analysis helps to know your respondents well and delve deeper into their perceptions about your product/service. This data can provide actionable insights for making strategic decisions that can contribute to business growth.

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Great Research
Fast Insights
Best-in-class ROI

Voxco’s platform helps you gather omnichannel feedback, measure sentiment, uncover insights and act on them.

Join 500 + global clients across 40+ countries