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How NLP is accelerating stakeholder engagement for management consultants

Artificial intelligence

June 28, 2023

The race is on for management consultants to deliver more value to clients - faster. But getting quality insights from traditional interviews and focus groups can feel like running in quicksand, transcribing indecipherable recordings, pouring over pages of transcriptions, and coding responses can often mean that you’re struggling to see the wood for the trees.

Enter NLP. Natural language processing is using AI to breathe new life into the tired old focus group and key stakeholder interview model. Here's how it's helping management consultants hit the gas:

Automated transcription

Instead of straining to decipher fuzzy recordings, NLP software transcribes the entire conversation accurately in minutes. Bye-bye headaches, hello moving at the speed of thought!

No more human error

There are a number of things that can go wrong when relying on humans to facilitate and analyse data from spoken-word conversations. Here are just a few: misidentifying speakers, incorrect timing, biases and subjectivity. All of these errors can lead to misinterpreted results and inaccurate recommendations for management consultants and their clients.

In contrast, NLP produces transcripts and analytics from live conversational data that are increasingly more accurate, complete, consistent, objective and time-aligned.

Semantic coding

NLP codes spoken-word data in real-time, at lightning speed, spotting key themes and sentiments that matter most to clients - no more relying on overworked analysts to catch every nuance. Thanks to our design, PSi captures both behavioural and linguistic metrics, enhancing the collective intelligence of your participants with the insights of cutting-edge conversational AI models. What types of insights, you ask? Take a look at a real-life data dashboard from one of our public discussions - you can interact with a live PSi discussion dashboard here.

Real-time insight reports

Using PSi, data reports are instantly available, immediately after a discussion. PSi’s unique tech stack and NLP analyse and transcribe spoken-word data in real-time, and provides deep insights without the need for you to read through a lengthy transcript.

PSi’s data dashboard displays clearly articulated key findings and implications from discussion data, where reports are beautifully designed and easy to navigate.

Tooting PSi’s horn

We worked really hard over the past few years to create the most modern, innovative way to conduct primary research using spoken word data. PSi makes every aspect of primary data collection easier, more streamlined and more efficient for management consultants.

From planning to facilitation and reporting - our unique tech stack allows participant groups of any size to come together in a live discussion. We use NLP to transcribe and analyse spoken word conversational data, and provide our clients with instant reporting on discussion data. We analyse consensus and polarisation metrics, opinion maps and clustering, and participants' demographic segmentation.

In summary

NLP tools fundamentally transform how management consultants work with focus group data. By automating the tedious, error-prone and time-consuming transcription processes, consultants see huge time savings, higher quality transcripts and faster insight generation - all of which help them deliver more impact for clients.

So what are you waiting for? Put the pedal to the metal and accelerate your focus groups today with NLP. Your clients are waiting - and they want results, fast.‍

If you’d like to get your hands on a real-life data dashboard from one of our PSi discussions, we’ve published a couple that you can interact with.‍ Check them out for yourself! 👇‍

View the dashboard

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