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How Credit Acceptance Boosted Efficiency and
Uncovered Hidden Patterns in Customer Data

Case Study

Industry: Financial Services

Employees: 2,000+

Revenue: $1.9B

Summary

Problem Insight7 solves: Insight7 enables Credit Acceptance to drastically reduce the time spent on customer feedback analysis, uncover hidden patterns, and eliminate manual bias, all while enhancing insight quality and supporting comprehensive, data-driven decisions.

Insight7 features used: Themes Dashboard, Research Matrix, Transcription, AskSev, Library Analysis, Customer Journey Map.

ROI

Time Savings: Credit Acceptance saves over 40 hours per transcript analysis, reducing the process to mere seconds.

Efficiency: Insight7 led to a 99.9% reduction in analysis time.

Improved Insight Quality: Teams reached more accurate, unbiased insights from customer feedback.

Pattern Recognition: Common themes and patterns were identified more quickly and comprehensively, enhancing decision-making.

Company Profile

Credit Acceptance, a major player in the financial services sector, has long prided itself on understanding and meeting customer needs. However, as the company grew, so did the challenges of efficiently analyzing customer feedback.

The Challenge

With a vast customer base, Credit Acceptance found itself grappling with an overwhelming amount of customer interview data. The company’s research team was spending upwards of 40 hours manually reviewing and synthesizing information from just 9 participant transcripts. This time-consuming process not only strained resources but also introduced the risk of unintended bias in the analysis.

Moreover, the manual approach raised concerns about potentially missing crucial insights or patterns hidden within the data. Credit Acceptance needed a solution that could not only save time but also ensure a comprehensive, unbiased analysis of customer feedback.

The Solution

Recognizing the need for a more efficient and thorough approach, Credit Acceptance turned to Insight7. This AI-powered platform promised to revolutionize their data analysis process with several key features:

Rapid Transcript Analysis: Insight7’s AI engine could process the 9 participant transcripts in seconds, a task that previously took 40 hours.
Automated Theme Identification: The platform could automatically extract key themes from the data, complete with supporting evidence.
Advanced Querying Capabilities: Insight7 allowed the team to ask specific questions and receive answers from within and across participant data.
Customer Journey Mapping: The solution offered the ability to generate visual representations of the customer experience.

The Outcome

The implementation of Insight7 transformed Credit Acceptance’s approach to customer insight analysis:

Time Savings: Analysis time plummeted from 40 hours to mere seconds, freeing up valuable resources for other critical tasks.
Enhanced Insight Quality: The AI-generated insights from verbatims matched or exceeded those reached manually, ensuring no valuable information was overlooked.
Comprehensive Analysis: The ability to query data across all participants led to more thorough and nuanced insights.
Pattern Recognition: Insight7 excelled at identifying common themes across participants, helping the team move from individual observations to recognizing broader patterns.

The impact of Insight7 was immediately apparent to the team.

The output of Insight7 is great! It’s a huge time saver
and the value is very clear. I have already presented some
of the insights the platform has produced, and have another
one at the end of next week.

Harris Schachter
Senior Consumer Marketing Manager, Credit Acceptance,

Looking Ahead

By leveraging Insight7, Credit Acceptance has not only achieved its immediate goals of time savings and comprehensive insight generation but has also positioned itself to better understand and serve its customers in the competitive financial services market. The company now has a powerful tool that allows it to rapidly analyze customer feedback, identify trends, and make data-driven decisions with confidence.

As Credit Acceptance continues to grow and evolve, Insight7 stands as a crucial ally in its mission to deliver exceptional financial services tailored to customer needs. The journey of transforming raw data into actionable insights has never been more efficient or effective, setting a new standard for customer-centric innovation in the financial sector.