NEWS10 January 2023

QuMind launches MaxDiff tool

Data analytics Innovations New business News UK

UK – Consumer intelligence platform QuMind has added a new feature based on MaxDiff methodology.

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The MaxDiff feature – short for maximum difference scaling – on the QuMind platform will allow companies to identify and prioritise what matters most to their customers.

The tool works by randomising a larger list of attributes and displaying them across several different screens in smaller subsets.

QuMind said that this would provide users with more accessible and realistic choices, such as ordering and prioritising a list of five options.

The new feature will allow users to populate a questionnaire with a list of options which are then randomised before being presented to consumers, with results presented in a horizontal line chart format, reflecting the relative percentage share of preference.

Kevin Woods, director of research and insights at QuMind, said: “This new feature replicates a more realistic decision-making process, going beyond simple likes and dislikes to deliver more accurate data based on a more meaningful and robust set of needs.

“Ultimately, it tells companies what’s important to their customers, allowing them to make more informed decisions.”

Mark Ursell, chief executive at QuMind, adds: “Businesses try to align the products and services to the needs of the market. To do so, however, it’s important to understand just what consumers’ needs are.

“This feature enables businesses to align their products and services to what matters most to their customers.”