Finding the voice of the customer is a strategic maneuver that most companies hope to discover in order to meet the growing demands of customers that tend to change more rapidly in our technology-driven society. Listening and taking notes while a customer complains is no longer sufficient, especially as the platform of communication is more dense than ever thanks to innovations like VoIP, which has made calling services significantly cheaper.
To further expand on the importance of speech analytics, CallMiner (News - Alert), a provider of speech analytics solutions, recently highlighted a whitepaper for users. Titled “Running off the Leash: Cloud-based recording and voice analytics will clearly reveal the Voice of the Customer,” it will help industry leaders learn how cloud-based recording and voice analytics can improve accuracy and reduce integration costs.
The reality is that as the world continues to recover from an economic depression, companies continue to look for different solutions that will help them save, hence the cloud. Without having to pay installation or maintenance fees for the physical hardware, the cloud ends up being a less costly expense than a server.
The whitepaper also found that “information is growing at a compound annual rate of 60 percent, and that this information flood (some say tsunami) contains only about five percent structured data, meaning the part of the information which exists in numbers or words that can be categorized and stored within a database. The remaining unstructured content may be in e-mails, documents, voice mail messages, text messages, video and other information sources.”
In order to access and make sense of the immense amount of content that is available, companies must utilize speech analytics solutions so that they can apply the information to their business operations, as voice is still the number one way a customer conveys their feelings.
Speech analytics takes this unstructured data from the audio of recorded calls, e-mails, chat transcripts, instant messaging and any other customer interaction and transforms it into data that can be analyzed. To complete these processes, CallMiner has created a step-by-step process, which you can view here.
According to CallMiner’s Voice of Customer Analytics video, 90 percent of all customer conversations are still happening on the phone despite the changes in the digital world. Even though there are about 2.7 billion words tweeted a day, in terms of data volume, this is minimal compared to phone calls where there are over 56 million hours worth of conversations, which equals to 420 billion words spoken a day.
Despite the changes in communication, the only real way an organization can learn about its customers’ wants and needs is by actively engaging in speech analytics. To do so in an expensive manner, they can use the cloud as a place to store and retrieve this information from. To learn even more information about speech analytics in the cloud, please visit CallMiner.
Edited by Rory J. Thompson