Analysts and experts agree that speech analytics is a fast growing segment of the call center market. Companies can gain valuable insight about their customers, and the technology overall can provide a competitive advantage to the businesses that use it.
Speech analytics can analyze audio data, thereby picking up on things like emotion and stress in a customer's voice, the reason for the call, the products mentioned and so on. Users can quickly identify a customer's needs, wants and expectations, and work to meet them.
Like with call recording, the technology is helpful in addressing the financial impact of improvements in customer satisfaction, call volume reduction, average handle time, first call resolution, call escalation, churn, and sales conversion. Call recording helps call centers take their missteps and use them to evolve to offer better customer care. Call recording additionally provides hard evidence of the areas in which there is room for improvement, and can provide call centers with the knowledge to move forward.
With speech analytics, firms can quickly search large volumes of audio for multiple terms of interest. Audio files containing the specific term(s) can be accessed rather fast and easily. This ability to locate key phrases in continuous audio extends the benefits of speech analytics beyond the contact center by allowing the business intelligence that is gathered to be shared across the entire organization, including marketing, legal and administrative departments.
TMJ Inc., a company that operates call center and back-office operations in Japan, recently implemented Verint (News - Alert) Systems Impact 360 Speech Analytics to help improve customer communications. TMJ is relying on Verint’s technology to gain insight into why customers are calling and to improve overall quality management and productivity.
Speech analytics brings quality monitoring to new levels, while providing insight into the effectiveness of internal processes, enabling you to understand and build logic for changes.
It can be used to to produce key performance indicators to compare how different agents deal with different call types – comparing their up-selling and cross-selling skills, for example.
You can concentrate coaching on what matters, driven by real-time insight. Agents can become more productive, aligning skill-sets closely to customer demand.
Edited by Alisen Downey