Webinars - Featured Articles

August 20, 2013

Webinar - From Raw Data to Structured Intelligence: Analytics Help Tame Big Data

We live in an era of “big data.” What this essentially means is that companies are collecting so much information – much of it about customers – that they are virtually drowning in information. But as we all know from that middle school teacher who taught you critical thinking, information isn’t knowledge. Knowledge only comes from gathering, organizing and interpreting the information. For the call center, the intelligence that could be gleaned from this raw data is invaluable.

Let’s face it… no one has time to sort through a million or more customer interactions manually and try to draw conclusions from them. While it may not be a job that people can accomplish, it’s a breeze for a computer, with a little help from an analytics solution, to turn unstructured, raw data into real intelligence.

Hidden among the millions of customer interactions a company might log each year is a wealth of insight into how customers think and behave, and how they should be serviced for best results. The information might be who they are, how they behave and what they really want. Analyzed properly, this information can offer contact centers insight into the “customer genome,” according to a recent Web event cosponsored by TMCnet and analytics solutions provider iQor (News - Alert).

The Web event, entitled, “Driving Value with Applied Analytics, The Customer Genome Project,” aimed to provide participants with the tools they need to access, decode and leverage customer DNA as they work to create the best possible customer experience.

“Getting information from analytics is about trying to build a pathway to sustainable inroads to innovation. In order to do that, you’re going to have get disciplined and think strategically and systematically. You’re going to need start focusing in your data,” said Bryce Engelbrecht, iQor vice president of analytics and general manager of QeyMetrics, who notes that the ability to use analytics to generate intelligence from data is a competitive advantage.

For the contact center, it might be a way to listen to all recorded calls, instead of just a few, and drawing some “big picture” conclusions from them. Using voice analytics, call centers can record all calls and use them as a primary source with which to improve operations.

“Voice analytics offer the ability to mechanically or through software, process audio files, not just by listening to them one by one and taking samples, but listening to all of them and deriving patterns: word patterns, phrases, sentiment…the things that matter to the tone, the behavior and the needs of your consumer,” Engelbrecht said.

The key is collecting the raw data and bringing it to a place where an analytics solution can process it all and piece it together. This way, companies can build profiles that allow them to optimize processes and predict what it is customers want, sometimes even before the customers know what they want. By adding more data to the pool, the insights generated by the analytics solution will only get richer and deeper. It’s a way that companies can ensure they are offering the best possible products and services and the best possible customer support for those products and services. Everything else is just guesswork.

To watch and listen to the recorded event, click here on TMCnet.

Edited by Alisen Downey