Contact Center Monitoring: An Alternative Definition of ROI
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Contact Center Monitoring: An Alternative Definition of ROI

August 07, 2012 by Morgan Pulitzer

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 – gleaned from customers, the competition and the marketplace in general – 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 would be time- and cost-prohibitive to assign personnel to sift through countless hours of customer conversations, call monitoring features such as call recording and speech analytics are used to detect pertinent points within a discussion between a call center agent and a customer. This information is then used to uncover trends, discover opportunities and refine agent performance.

The “return on intelligence” resulting from speech analytics software and its audio mining capabilities can be significant. Speech analytics takes key words and phrases, loads them into a database, and then finds matching terms and phrases within recorded conversations.

Speech analytics gives businesses the ability to thoroughly examine customer observations and feedback, including their reactions to policy changes and new offerings, as well as comments about competitors. These insights serve multiple purposes, from enhancing staff training endeavors to developing a better understanding of customer desires, which may, in turn, inspire a company’s decision-makers to adjust product direction.

If effectively implemented, call monitoring solutions can have a great impact on a business’s efficiencies, and consequently, its bottom line. The more savvy an organization is with the collection, management and use of business intelligence, the more successful it is bound to be – in all areas.