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Analyzing Call Content is Becoming an Art

By TMCnet Staff

There is very little doubt that as we move further into the 21st century, we are moving closer to what could be called the “Age of Speech Analytics.” Perhaps one of the most surprising things about this technology is that call centers have largely been ignoring it for far too long. Call recording is certainly something most contact centers engage in, but they often see speech analytics as something as a nice bonus, but not a necessity.

"Contact centers have not been quick to adopt [analytics]," Donna Fluss, founder and president of DMG Consulting and industry analysis firm, recently told Destination CRM. "We have the technology, but it's only slowly being rolled out." DMG is one company that is keeping track of the number of firms that are finally moving onto speech analytics and the firm believes the number is still pretty low. In fact, the company thinks there are as few as 20 percent of contact centers currently leaning on speech analytics.

Another industry analyst, ContactBabel (News - Alert) says that another 25 percent have plans to implement speech analytics in the near future. While adoption is still relatively slow right now, quite a few analytics firms believe the adoption rate is going to pick up soon. Other firms have suggested the speech analytics market is currently sitting at around $233 million. The same firms believe the market value will increase to more than $614 million by 2019. That’s a pretty massive jump in a short period of time.

The increase in adoptions over the next few years, as well as a jump in the number of jobs at call centers around the United States, will combine and become rather synergistic. While we aren’t in the era of speech analytics just yet, we’re going to get there soon. When we are there we’re going to be moving fast. Companies adopting the technology now will be on the ground floor and ahead of the curve.