In the business world, ROI is universally known as the acronym for “return on investment.” ROI is loosely defined as the value or benefits that an entity has received, or may receive, from a particular investment or expenditure.
But as it relates to contact center monitoring, ROI can also mean “return on intelligence.” Business intelligence is information gathered by an organization through the use of technologies, such as data management and storage applications. Intelligence data is gleaned from customers, the competition, and the marketplace in general. This data is extracted from databases, organized, and analyzed in order to improve practices, products, and services.
Call Monitoring and Call Recording
Many contact centers now use call recording and monitoring software to process business intelligence. Since it is time-consuming and costly to sift through countless hours of customer conversations, automated call monitoring and speech analytics tools offer a better ROI. When analyzing calls, managers use this information to uncover trends, discover opportunities, and refine agent performance.
The “return on intelligence” you get from speech analytics software can be significant. Speech analytics takes keywords and phrases, loads them into a database, and then finds matching terms and phrases within recorded conversations. This gives businesses the ability to thoroughly examine customer observations and feedback, including reactions to policy changes, new offerings, and comments about competitors.
These insights serve multiple purposes, from enhancing staff training endeavors to developing a better understanding of customer desires. All of this, in turn, inspires the decision makers to adjust product direction.
Automated call monitoring solutions can greatly impact efficiency and, consequently, your business’s bottom line. Savvy organizations automate the collection, management, and use of business intelligence. If you want to learn how to be more successful in all areas, schedule a demo of CallFinder today!