It is no secret that speech analytics is not in widespread use among global call centers. In fact, one quoted adoption rate of about 20 percent, courtesy of DMG Consulting and ContactBabel (News - Alert), makes the market look dismal. However, the market appears to be moving upward as more businesses begin to realize the potential of what analytics can offer.
A recent post at CRM Magazine notes that research from those groups predicts market growth for the near future. Of the 80 percent of contact centers that do not have such systems in place, about 25 percent have reported a willingness to implement speech analytics soon.
This is great news for software developers because they have a lot of the market still to conquer. Although the beginning may have seen rough seas, the future could be bright as that large market share begins to come around.
What exactly does speech analytics offer? Well, it can, in real time, search for keywords and phrases, talk-over, changes in the tone of a conversation, and changes in context. All those elements can provide call center managers with hints about how conversations between agents and customers progress. It can highlight successful conversations and make note of unsuccessful ones. And it can provide hints about how to make conversations proceed more smoothly in the future.
CRM Magazine grabs the words of Alain Stephan, the global vice president of customer analytics at Verint (News - Alert) Systems, who says this type of software brings context into the conversation. More than just analyzing conversations after the fact, the best software packages can make sure that real-time analysis finds poor conversations in progress, which allows managers to step in and provide a helping voice.
Software packages like this are also able to protect businesses when it comes to legal matters. Certain markets may require that agents say a specific phrase when interacting with customers in order to inform customers about their rights. A lack of that phrase could hinder businesses in their proceedings and could even invalidate entire phone calls.
The real-time nature of this software should not be understated. Businesses are coming to the table – now more than ever – because they are beginning to see the benefits that speech analytics can offer. An effective scan of all elements of a conversation is what can help any organization automate its quality assurance process and make sure customers receive the best service possible.