If you searched the Internet for “What is Speech Analytics?” you’ve landed on the right spot!
In a word, speech analytics software analyzes agent-customer phone calls to discover the true voice of customers and improve quality assurance practices. But it’s so much more than that. This blog post defines speech analytics and how it works, explores the potential uses, and explains the benefits of leveraging this advanced technology in businesses and contact centers.
So how does it work, exactly?
A speech analytics solution scans thousands of phone conversations in a systematic way, so that actionable trends begin to emerge, ultimately transforming unstructured, unleveraged data (daily phone conversations) into insights that can then be readily examined at numerous levels of the corporate infrastructure.
Yeah, that was a mouthful. Here’s how speech analytics works in real life:
Speech analytics software automatically scans thousands of customer calls for certain keywords that uncover key performance metrics. For instance, if you wanted to measure how well your contact center agents are performing, you can search all recorded calls for keywords related to your company’s customer service policies and standards.
That all sounds good, right? But now you’re probably wondering how to apply that to your business.
Let’s say you wanted to ensure that agents are ending customer calls professionally. You could create searches for phrases like “It’s been a pleasure talking with you,” or “Is there anything else I can help you with today,” or “Have I answered all of your questions,” and so on.
Okay, that’s cool, but what do I do with that information?
Glad you asked.
An advanced speech analytics solution allows you to aggregate the raw data into designated categories. These categories are then used to address common business goals, such as improving marketing campaigns or enhancing the customer experience. From these categories, the solution generates automated reports to inform managers on exactly how to set realistic goals, create benchmarks, and measure success.
But wait there’s more! A good speech analytics solution should include implementation and client support to ensure you’re are getting the best ROI from the software.
Okay, you’ve answered, ‘What is Speech Analytics?’ Now, why should I care?
Another excellent question.
Employing a speech analytics solution is becoming standard business practice among companies of all sizes and industries. That’s because savvy business owners recognize that simply recording calls and manually monitoring a small sample of agent-customer interactions is a grossly inadequate process. This is especially true when facing the growing trend to respond to the dynamic and fluid wants and needs of a brand’s customer base.
Now that companies understand that daily conversations with their customers carry a wealth of actionable information, quality assurance takes on a much more robust definition. Traditional call recording alone cannot provide the valuable customer and business insights gained from automated call monitoring and call scoring. For instance, companies use speech analytics to improve employee training programs, monitor compliance and mitigate risk, capture marketing and sales intelligence, improve the customer experience, and close knowledge gaps across all departments.
What about those benefits you mentioned?
Ultimately, speech analytics technology increases the efficiency and overall performance of contact centers because it eliminates the pain points associated with traditional quality monitoring. The days of manually listening to a limited number of calls are over. In order to stay ahead of the competition, businesses must go beyond simple call recording solutions and commit to implementing automated call recording and call scoring techniques.
So, what is speech analytics? Only the best tool for accessing a full scope of business intelligence and gaining direct insight into the customer experience, their satisfaction levels, purchase patterns, loyalty, and other valuable information to develop smarter strategies and increase revenues.
Learn more about speech analytics technology by speaking with a CallFinder specialist – contact us today.