Keywords: Survey data, Structural Equation Modeling, Path Analysis, Customer Perception
Understanding customer behavior and driving customer satisfaction are necessary for any business to succeed in the competing market. Companies need to be aware of the prevailing customer perceptions in order to make more accurate and effective plans for product development and marketing. Customer feedback is available through multiple channels. Specifically, we are interested in the data collected through surveys. Analyzing such data correctly is critical, as it reveals everything from buying trends to product flaws and provides a significant business advantage. It would further strengthen business opportunity to uncover customer interests, product improvements, and marketing insights. In this presentation, we explore the use of Structural Equation Models and other statistical techniques that help analyze customer perception to capture customer feedback consistently and accurately.