Seeking customer feedback is an important part of any company or organization to ensure that their products remain in line with what the customer wants. Its nothing but adhering to 'Customer Is King' principle. As business world is becoming bigger and bigger, companies are coming out with more and more new products, it is very important to hear the 'voice of the customers (VoC)' to stay ahead of the competition. Not only this, by gathering customer feedback, companies can bring in new innovations in their products.
What the customer says is usually an 'unstructured data' or information that is not organized. Going by thousands of feedbacks one at a time is time consuming tedious task and will make the company to lag behind in understanding the sentiment of the customer - which is definitely a competitive disadvantage. What 'no' usually means a negative word, but at times it can also act as a positive word.
Proper efficient techniques therefore must be there to understand what the customer says . The techniques must be quick also. To see the techniques, have a look at http://www.theanalyticshub.com/Downloads/The-Analytics-Hub-White-Paper-Advanced-Analytics-for-Voice-of-the-Customer-Programmes.pdf.