Surveys

Qualtrics survey software review

Qualtrics survey software review ,Qualtrics is an experienced American company, which has its co-headquarters in Seattle, Washington as well as Provo, Utah in the United States.

Qualtrics survey software review

The company was founded by Scott M. Smith, Jared Smith, Ryan Smith and Stuart Orgill in the year 2002. It offers you a cloud based subscription software for experience management and the software was launched in March 2017.

History

Funding and valuation

Qualtrics received a $70 million series A investment from two of the top venture capital firms in the country, that is, Sequoia capital and Accel, in the year 2012.

That was the largest investment and in the year 2014, Sequoia capital and Accel back in series B funding, led by Insight partners a value of $150 million, a record for a Utah-based company and valuing the company at a price of $1 billion.

In April of year 2017, the company received a series C investment of $180 million from the investors Sequoia capital, Insight venture partners and Accel. The series C investment was raised at a valuation of $2.5 billion pre-money.

Filing of IPO

In the year 2018, Qualtrics has founded the S-1 registration on 19th October,  with the intention of raising gross proceeds of $200 million through an initial public offering (IPO) of its class B shares. At that time the company listed 9000 customer globally.

Due to their flagship experience management product, Qualtrics was meant to be listed on the NASDAQ exchange under the ticket “XM”.

Plans for IPO were discarded when it was declared that Qualtrics would be acquired by SAP in November 2018.

Awards and ranking

In the year 2020, Qualtrics earned a ‘leader’ designation in Forrester’s employee for enterprise wave, a ‘leader’ designation in Gartner’s magic quadrant for voice of customer and in G2’s experience management category, it was on top ranking. It was on 12th rank on the Forbes Cloud 100 list in year 2016 but in 2017 it moved to 6th rank among 100.

Revenue

In 2016, Qualtrics announced revenue of $190.6 million but in 2017 the revenue increases to $289.9 million, representing year over year growth of 52%. Qualtrics reported an overall loss of $12 million with free cash flow of worth $3.4 million, in 2016 but in 2017, the company reported a net profit of $2.6 million with free cash flow of $21.3 million.

Acquisitions

The company obtained statistical analysis start up statwing for an undisclosed sum, in May 2016.

Statwing was the company which created point and click software for the advanced statistical analysis. In 2018, Qualtrics obtained delighted for an undisclosed sum and had more than 1500 customer in the time of acquisition.

Acquisition by SAPSE

In the November of the year 2018, SAP announced its intention of acquiring Qualtrics. SAP obtained all of the outstanding shares of the Qualtric at a price of US $8 billion in an all cash deal and SAP assured US $7 billion purchase for SAP at the time, behind the $8.3 billion acquisition of travel and expense management firm concur in the year 2014. In January 23 of the year 2019, the acquisition was formally closed.

Initial public offering (IPO)

On 26th July of year 2020, SAP confirmed its intent of taking Qualtrics public through Initial public offering (IPO) in the United States. Due to the Qualtrics performance since the acquisition which outperformed SAP’s expectations in excess of 40 percent, the decision to go public was made and SAP announced that SAP will remain the main shareholder. On 28th January, 2021 the company began the trading on the Nasdaq at a price of $41.85 per share.

What is Qualtrics?

Qualtrics is basically an online survey tool which began by supporting the research of academic who needed an experienced questionnaire.

The reasons to give Qualtrics the Editor’s choice are the direct question access of its user interface (UI), logical branching options, block-based questionnaire designs and an outstanding survey flow overview option.

But keep in mind that some less experienced user may feel overwhelmed by Qualtrics due to its dense UI and numerous configuration options.

Qualtrics survey software review that SAP obtained in January, 2019, still continues today as the best choice for the professionals and large enterprise.

Survey design

The survey design UI of Qualtrics can be disorienting, with the application providing the five sets of menus on the screen by default.

Although,Qualtrics survey software review one of all these, My Task, which is a kind of process checklist is largely duplicative and looks designed to help acclimate those used to the workflow of Survey Monkey.

A nice feature which the managing multiple surveys will admire is Qualtrics ability of switching among active projects very easily via a menu present on the upper left hand side of the screen, without going back to a “Home” screen.

While products which can import questions, such as, WorldApp Keysurvey and SurveyGizmo from performatted Microsoft Word documents and have many packages that lets you to import questions from the previous surveys at any point during survey designing process.

The feature can be a great time saver while dealing with the complex questions.

In spite of having all of its UI cutter, the company’s UI offers one of the most direct question operation options and if you see a question or answer and you would like to change the choice while reviewing a survey, then simply choose it to edit it, without having to drop into a flow disrupting, question editing dialog box.

The only trade off of Qualtrics is that the company may show few options for each of the nine parameters which you can edit.

What are the benefits of using qualtrics?

Qualtrics offers an exceptional support for masked answer choice, which is an answer choices presented based on looking the answer to previous questions.

It offers 14 different options when it comes to doing this based on responses to matrix type questions but some of these may considered separate questions by the other tools.

As a example, a visitor might be asked to give a satisfaction rating for a host of criteria and by using Qualtrics, you can take the criteria that respondents gave the highest rating and ask the respondents to rank only those criteria in terms of importance for a future question.

These are not possible without a custom coding in other packages.

Qualtrics also shows its flexibility in respect to question randomization and validation options but not always for the best, such as, most of the tools allow the option for randomizing answer to prevent bias from the recency and primaly effect but Qualtrics allows to insert a randomly subset of responses for situations where one would want to collect data on a long list of options which would otherwise overwhelm an individual respondent.

But if one consider Qualtric’s questionnaire designer to be great in terms of digging down into questions, then surely it is outstanding when it comes in respect of understanding the bigger picture of a questionnaire.

Whereas other tools like SurveyMonkey supports grouping of questions into blocks for a survey organization but Qualtrics uses this concept at its core and offers a best in class survey flow screen.

Take an example of thinking it as a “Forest view” versus the “trees” of questions which helps you in understanding the path on which various logic branches will take respondents.

You will also be given an option of zooming in and out so that you focus on different critical areas in survey designs.

Reporting

Qualtrics always focus on flexibility and customization in its reporting.

Qualtrics survey software review , There are many packages which let one filter based on the answer to aquestion but Qualtrics allow the building of elaborate rules similar to the criteria in its skip logic builder. You can also transpose charts without resorting to a Microsoft Excel export and even has the layout options beyond other tool choices to punch up a report for presentation without going into Microsoft Word.

You can also find a feature which is powerful but intuitive weighting and a cross tab editor for compensating a survey sample that may have some gaps in how representative they are.

It provides some tools that may require a good knowledge of statistics to fully exploit, but generally these are reserved for even higher priced tiers.

With Qualtrics you will be able to create shared reports such as Toluna QuickSurvey does, it lacks Toluna QuickSurvey’s ability to maintain multiple shared reports which can exclude or include various data cuts.

Qualtrics also lacks in the project management like “to do list” of World App KeySurvey, another offering aimed at large enterprises.

How much does it cost to use qualtrics?

Qualtrics is impenitently a professional tool and sell through a direct sales force. Qualtrics tells that it is trying to get to more standardized pricing.

It has a package known as “Research Cored”, which include all of the survey design but lacks the advanced analytics on the reporting end and it costs about $1500 per year.

Final words

The company, Qualtrics, takes really a unique approach which shows that the company is thoughtful and power constantly across multiple phases of survey fielding, creating and reporting. Paying price for premium gives a solid insurance policy against the experiencing frustrating limitations.

FAQ

Is qualtrics better than SurveyMonkey?

Yes it is Do try their software

Is qualtrics survey legit?

The company is really successful in making its features.

Arkadip

Published by
Arkadip