After a survey, the open-ended questions are often manually "coded". The process of manual "coding" requires
a person to review the open-ended response and assign one or many "codes" from a predefined list of
codes suggested relevant to the survey. The process requires expertise in the domain, subjective judgement and is
often times error prone and subject to individual biases. Not only is this process time consuming and labor intensive, but
it is very expensive. Based on anecdotal evidence from our customers and prospects, the cost of coding a single
verbatim in a survey response ranges from $1.5 to $6 per verbatim. The price varies based on the domain knowledge required, volume of
the survey responses and in-source/out-source arrangement for the coding team.
If you are hand-coding approximately eight hundred responses a month, you are already spending about $50,000 a year on the effort.
Insight Magnet is a service with no hardware or software to buy. You can license the service on an annual basis and several
pricing tiers are available based on your anticipated volume and usage patterns. You can upgrade your service at any time.
If your need is a one-time use license, please contact us with your requirements and we will let you know
if we can accomodate your request.
Pricing Parameters
Every customer is different and our pricing is set-up to make Insight Magnet easy to try and buy. The following will
help us promptly get back to you with pricing. Approximate numbers are okay, these numbers go into the sizing the system
for you and are based on tiers.
- How many surveys a year would you process through the system?
- How many responses do you receive for each survey?
- How many open-ended questions do you typically have in a survey?
- Are these surveys of the same type or they are all different? For example, the first case would be a
satisfaction survey that is the same in format but repeated 12 times a year. The example of the second type would be
12 different surveys issued for different reasons and by different business units.
- Are you interested in the User Module that includes capabilities to dice and slice data based on
respondent attributes?
Let us know if you have this information handy and we will promptly get back to you.
We offer training and consulting services to support you as needed. The following are the bundled offerings and additional
services can be arranged based on your specific needs.
This one hour instructor lead training is recommended for all new users. This serves as an introduction to the system with hands on exercises where participants create their own categories.
This instructor lead class takes a in-depth look at the categorization process. Additional background is provided in the design of
Insight Magnet Categorization Engine and the Category Definition Language (CDL). CDL is the language used to define categories in
Insight Magnet. This is a half day class and can be extended to a full day if additional material needs to be covered.
If you have specific needs and need to have special sets of categorization built, this service can be a great tool to jump start your
project. You will work with Insight Magnet consultants who will build the categories for you and go over the design and usage for the created sets.
The category sets are yours to keep and use in all the follow-on categorization. Typical duration of this service is about 5 business days.
The out-of-the-box user interface provides capabilities to analyze and report on the most commonly asked questions. Supporting
reports and graphs are available with multiple options. If, however, you have custom set of requirement and would like Insight Magnet to
use the analyzed data bits in a further deep dive, this service will enable you quickly accomplish your goals.
