The Value of Capturing and Recording Speech Communications
October 01, 2015
By Paula Bernier
Executive Editor, TMC
The telephone companies have been talking about data mining for at least a couple decades. Today advances in technology are making it possible to more easily leverage data to get a better understanding of customers and to drive actionable insight to improve the prospect of business success.
While some of that data can be found in existing customer records in our databases and networks, many organizations also believe speech-based interactions can also be a rich source of information for business use. Of course, many organizations, particularly those in the more heavily regulated finance and health care verticals, already record and archive calls for compliance reasons.
Capturing voice communications, and using speech analytics to garner important information from them, can also yield significant value, according to many of my sources in the contact center space.
For example, a recent blog from ISI (News - Alert) Telemanagement Solutions Inc. notes that using speech analytics can help organizations better evaluate agent performance, do targeted coaching, cut costs, enhance the customer experience, increase revenue via upselling, lower customer and employee churn, ensure corporate and regulatory compliance, and track competitor mentions and sales objections.
As I noted in an article about call recording and speech analysis early last year, embarking on a strategy to record and store calls also raises a lot of questions – such as where and how long to store call recordings, what needs to be done to ensure compliance with governmental regulations, and what tools and processes should be put in place to enable the organization to make the most of the recorded calls.
Edited by Stefania Viscusi