In this hyperconnected world we live in, it’s easier than ever to send feedback to the companies we patronize. But just because businesses offer more ways to get in touch doesn’t mean they’re poring over every comment. According to a 2020 survey from Productboard, 90% of companies fail to successfully capture feedback from all channels while a third have no feedback-capturing process whatsoever.

Varun Sharma became very aware of this while leading customer success efforts at LinkedIn, analytics software firm Amplitude, and startup Scale AI. Product and customer experience teams were struggling to use customer feedback to make decisions despite their best efforts, Sharma says.

 

So, in 2020, Sharma recruited his brother, Arnav Sharma, to build a tool that might help solve the customer feedback headaches firms were experiencing. Conveniently, Arnav had software engineering experience, having worked as a developer at Uber for three years.

“Customer interactions are a precious, yet immensely underutilized, data set for all enterprises,” Varun told TechCrunch. “If they’re unlocked meaningfully, they can build best-in-class products and drive business growth.”

Over the years, Varun and Arnav’s tool expanded into a platform, Enterpret, that connects to various feedback sources and applies algorithms to extract insights. Enterpret can highlight overarching themes and emerging problems in customer comments, and assist teams in figuring out things such as what products to build.

In today’s fast-paced business landscape, customer feedback is more important than ever. It provides valuable insights into customer needs, preferences, and pain points, which can inform product development, marketing strategies, and customer support initiatives. However, manually analyzing customer feedback can be a time-consuming and labor-intensive process, especially for large organizations with thousands of customers.

That’s where Reverie Labs comes in – a platform that uses artificial intelligence (AI) to automatically extract insights from customer feedback. Founded by Alex Wang, a former leader at Scale AI, Reverie Labs aims to help businesses make sense of their customer feedback data and make data-driven decisions.

 

Inspiration Behind Reverie Labs

Alex Wang, the founder of Reverie Labs, has a deep understanding of the challenges businesses face when it comes to analyzing customer feedback. During his time at Scale AI, Wang worked with various companies to develop AI-powered solutions for data analysis. However, he realized that many businesses were struggling to extract insights from their customer feedback data.

“The biggest challenge was that customer feedback is unstructured data, which makes it difficult to analyze using traditional methods,” Wang explained. “I saw an opportunity to develop a platform that could automatically extract insights from customer feedback, making it easier for businesses to make sense of their data.”

 

How Reverie Labs Works

Reverie Labs uses natural language processing (NLP) and machine learning algorithms to analyze customer feedback data. The platform can handle large volumes of data from various sources, including surveys, reviews, and social media.

Here’s how it works:

1. Data Ingestion: Reverie Labs ingests customer feedback data from various sources.
2. Data Preprocessing: The platform preprocesses the data to remove noise and irrelevant information.
3. NLP Analysis: Reverie Labs uses NLP algorithms to analyze the preprocessed data and extract insights.
4. Insight Generation: The platform generates actionable insights based on the analysis, including trends, patterns, and correlations.
5. Visualization: Reverie Labs provides a user-friendly dashboard to visualize the insights, making it easy for businesses to understand their customer feedback data.

 

Benefits of Reverie Labs

Reverie Labs offers several benefits to businesses, including:

1. Time Savings: The platform automates the process of analyzing customer feedback data, saving businesses time and resources.
2. Actionable Insights: Reverie Labs provides actionable insights that businesses can use to inform product development, marketing strategies, and customer support initiatives.
3. Improved Customer Experience: By analyzing customer feedback data, businesses can identify areas for improvement and make data-driven decisions to enhance the customer experience.
4. Competitive Advantage: Reverie Labs provides businesses with a competitive advantage by enabling them to make sense of their customer feedback data and make data-driven decisions.

Conclusion

Reverie Labs is a game-changer for businesses looking to make sense of their customer feedback data. By using AI to automatically extract insights from customer feedback, Reverie Labs provides businesses with actionable insights that can inform product development, marketing strategies, and customer support initiatives. With Reverie Labs, businesses can save time, improve the customer experience, and gain a competitive advantage in the market.

Reverie Labs, founded by ex-Scale AI leader Alex Wang, is a platform that uses artificial intelligence (AI) to automatically extract insights from customer feedback. This innovative platform offers numerous benefits to businesses, including:

1. Time Savings: Reverie Labs automates the process of analyzing customer feedback data, saving businesses time and resources.

2. Actionable Insights: The platform provides actionable insights that businesses can use to inform product development, marketing strategies, and customer support initiatives.

3. Improved Customer Experience: By analyzing customer feedback data, businesses can identify areas for improvement and make data-driven decisions to enhance the customer experience.

4. Competitive Advantage: Reverie Labs provides businesses with a competitive advantage by enabling them to make sense of their customer feedback data and make data-driven decisions.

5. Enhanced Product Development: Reverie Labs helps businesses identify areas for product improvement and development, enabling them to create products that meet customer needs.

6. Increased Customer Satisfaction: By analyzing customer feedback data, businesses can identify areas for improvement and make changes to increase customer satisfaction.

7. Reduced Customer Churn: Reverie Labs helps businesses identify areas for improvement and make data-driven decisions to reduce customer churn.

8. Improved Marketing Strategies: The platform provides insights that businesses can use to inform marketing strategies and improve customer engagement.

9. Enhanced Customer Support: Reverie Labs helps businesses identify areas for improvement in customer support, enabling them to provide better support and improve customer satisfaction.

10. Data-Driven Decision Making: The platform enables businesses to make data-driven decisions, reducing the risk of relying on intuition or anecdotal evidence.

11. Scalability: Reverie Labs can handle large volumes of customer feedback data, making it an ideal solution for businesses of all sizes.

12. Customization: The platform can be customized to meet the specific needs of businesses, enabling them to extract insights that are relevant to their operations.

13. Integration with Existing Systems: Reverie Labs can be integrated with existing systems, such as customer relationship management (CRM) software, enabling businesses to leverage their existing infrastructure.

14. Cost Savings: The platform can help businesses reduce costs by identifying areas for improvement and enabling them to make data-driven decisions.

15. Improved Collaboration: Reverie Labs enables teams to collaborate more effectively, by providing a shared understanding of customer feedback data and enabling them to make data-driven decisions.

In conclusion, Reverie Labs offers numerous benefits to businesses, including time savings, actionable insights, improved customer experience, and competitive advantage. By leveraging AI to automatically extract insights from customer feedback, Reverie Labs enables businesses to make data-driven decisions and drive growth.