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Qualtrics SWOT & PESTLE Analysis

ID : 52955553| Jun 2021| 21 pages

COMPANY PROFILE -Qualtrics

Business Sector :Software services

Operating Geography :United States, North America, Global

About Qualtrics :

Qualtrics is a US-based experience management firm with headquarters in Seattle, Washington and Provo, Utah. In 2002, the firm was established by Scott M. Smith, Ryan Smith, Jared Smith, and Stuart Orgill. Qualtrics Experience Management (XM) is a software platform that allows businesses to continuously evaluate the quality of their four main experiences: customers, workers, products, and brands. The company is used by organizations to be involved at every meaningful touchpoint, for every experience, and to forecast which changes will have the most impact on stakeholders. Its Technical Account Manager will help you move your XM programme ahead by providing you with ongoing technical insight, knowledge, and innovation. The company's solution delivery team follows the programme blueprints to deliver a fully configured programme, complete with any integrations, customizations, or migrations. SAP announced its intention to take Qualtrics public on July 26, 2020, and the company began trading on the Nasdaq on January 28, 2021.
Qualtrics's Unique Selling Point or USP lies in it being the leading experience data (X-data) company, and it is owned by SAP, the market leader in operational data (O-data). Qualtrics's mission statement reads, "At Qualtrics, our mission is to close the experience gap".

Qualtrics Revenue :


$ 763.5 million - FY ending 31st December 2020
$ 591.1 million - FY ending 31st December 2019

Competitive Analysis of Qualtrics

SWOT
PESTLE

The SWOT analysis for Qualtrics is presented below in a matrix followed by the detailed analysis report

StrengthsWeaknesses
1. Single integrated platform providing solutions
2. Platform is built for action keeping customers engaged
3. Comprehensive data collection and real time insights are provided which give immense value to the customers
4. Recognized leader in experience management
5. Focus on continuous innovation and enhancement of its XM Platform
1. Reliance with SAP may affect profitability of the company
2. Limited ways of acquiring new customers to generate revenues
No net profits since 2018 for the company
OpportunitiesThreats
1. Expanding operations to new markets
2. Utilizing AI tools into its products for better results
1. Risk of data breaches which may lead to loss of customers
2. Impact of COVID-19 on surveying methods
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Qualtrics

Strength

1. Single integrated platform providing solutions: The XM Platform of Qualtrics serves as a business operating system for Experience Management and consists of purpose built solutions for customer, employee, product and brand experiences. The XM Platform uses Listening, Qualtrics iQ and xFLow engine to provide the customers the ability to target the right users in the right moments to gather the insights that they need to drive action. The platform offers certain benefits like the ability to experience holistically, integrated analytical capabilities, build for action, comprehensive data collection, real-time insight, flexible configuration to meet specific needs, democratization of experience management across all users and enterprise ready. The XM platform enables organizations to design new breakthrough experiences and, continuously improve broken experiences through recognizing problems, addressing the root cause, and then overhauling processes before they manifest as lower trending satisfaction scores. As of 2020, the Qualtrics XM Platform is used by more than 13,500 customers of all sizes, including 85% of the Fortune 100.

2. Platform is built for action keeping customers engaged: Qualtrics xFlow enables organizations to automate experience workflows to drive action natively or by integrating with systems that an organization already uses. For example, with the company’s analytics driven Smart Routing, the platform can automatically generate a customer ticket and action to resolution when a negative sentiment is expressed on a social media site. In this way, Qualtrics’ XM Platform not only helps to identify issues, but also serves as a system of action by automatically directing feedback and recommended actions to the teams that are in the best position to make improvements. The system can bypass the need for employees to resolve issues and instead automate service recovery so customer or employee issues do not slip through the cracks. xFlow works across the company’s platforms and provides automatic notifications, raises tickets and closes experience gaps immediately. This action driven platform keeps the customers engaged in the process and gives results quickly than other software. The customer gets the results faster in this process and is able to utilize the results quicker. This is a great bonus for the users of the software and allows the company to generate more revenues.

The remaining section under "Strength"is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • Survey Monkey
  • Google Survey
  • Alchemer
  • Typeform
  • Zoho Survey
  • Major Brands :

  • CustomerXM
  • EmployeeXM
  • ProductXM
  • BrandXM
  • SWOT & PESTLE (combined)
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    TABLE OF CONTENTS
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    WHY CHOOSE US?

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    Check Out Analysis of Other Relevant Companies

    References used in Qualtrics SWOT & PESTLE Analysis Report

    1. Annual Report 2020 -https://qualtrics.gcs-web.com/static-files/dc82a44b-bd41-44c1-8bb3-128dff0739d4
    2. 4 Ways That AI Is Improving the Customer Experience - https://www.cmswire.com/customer-experience/4-ways-that-ai-is-improving-the-customer-experience/#:~:text=By%20leveraging%20AI%20to%20understand,touchpoints%20and%20across%20all%20channels.
    3. Survey response rates remain strong during COVID-19 - https://www.qualtrics.com/blog/survey-response-rates-during-covid-19/
    4. WHAT JOE BIDEN MEANS FOR THE TECH INDUSTRY - https://builtin.com/operations/biden-tech-policies
    5. What will a Biden presidency mean for the tech industry? - https://www.verdict.co.uk/biden-tech-industry/
    The detailed complete set of references are available on request in the 'Complete report' on purchase.

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    Qualtrics SWOT & PESTLE Analysis - SWOT & PESTLE.COM

    SWOT & PESTLE.com (2021). Qualtrics SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/qualtrics/ [Accessed 25 Sep, 2021].

    In-text: (SWOT & PESTLE.com, 2021)

    Copyrights and Disclaimer

    Qualtrics SWOT and PESTLE analysis has been conducted by Amit Kabi and reviewed by senior analysts from Barakaat Consulting.

    Copyright of Qualtrics SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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