If you’ve talked to Forrester about customer feedback management (CFM) solutions in the past year or so, it’s likely you got a 2-for-1 deal. Boris Evelson and I have increasingly found ourselves co-advising both buyers and vendors about how CX leaders can more effectively analyze customer feedback from a variety of channels. Advanced CX leaders are, rightly, focused on using text mining and omni channel analytics to drive faster and more insightful results.
The variety of vendors that can support these evolving use cases doesn’t sit squarely in a single market. Namely, the lines between text mining and analytics platforms providers and CFM solutions have blurred — and conversation intelligence solutions are increasingly becoming part of the conversation. Adapting to these evolving market demands requires a shift to our research approach. As part of this evolution, we’ll retire our separate Landscape and Wave™ coverage of text mining and analytics and CFM solutions to better align with client priorities.
What emerges is a new category: CFM and analytics solutions. Our working definition, which we’ll continue to refine, is:
Software solutions that aggregate qualitative and quantitative feedback, apply advanced text mining and ML techniques, and deliver actionable analytics to improve understanding of customers and inform strategic business decisions.
We are heartened that many CX leaders are ready to broaden their feedback management programs beyond surveys — and it’s hard to deny the role of key market dynamics that are accelerating this shift:
- AI disruption. Generative AI (genAI) and emerging agentic AI capabilities are redefining market dynamics. Many vendors are leveraging similar LLM technologies and architectures, making it harder for clients to see clear differentiation. Clients increasingly question whether to purchase text mining/analytics solutions or build custom solutions using genAI/agentic AI.
- Market consolidation. Recent M&A activity among key vendors and in adjacent markets continues to reshape the competitive landscape.
- Commoditization of functions. Functions like surveys and dashboards have become mostly commoditized and aren’t driving buying decisions. Even newer genAI-driven summaries are no longer differentiating. Instead, CX and insights leaders are looking to the next generation of capabilities, such as greater real-time insights, better reasoning engines, and more autonomous decisions and actions.
What To Expect
- We’ll research the providers whose solutions reflect CX leaders’ new needs, including a Landscape report in the spring.
- We’ll continue to provide support to clients seeking technical solutions for a range of functions.
- We’ll continue to engage with a variety of solutions providers to understand how this space is evolving and to serve our client needs.
If you’re a vendor and you believe your product fits our new category, please arrange a briefing.
If you’re a client and you’d like to discuss this new market and what the technology means for your CX initiatives, please contact us.
Keep an eye on our planned research for additional updates: Planned Research – Forrester.
