Voice Data and Its Untapped Potential
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Voice Data and Its Untapped Potential

June 17, 2015 by Morgan Pulitzer

At the heart of any business are its customers and clients. Without happy customers and clients a company isn’t going to survive. That’s why customer experience data is so valuable. This data is used to improve business processes in order to keep customers and clients satisfied and coming back for more.

There are many outlets to collect customer experience data from, including surveys, polls, focus groups, social media interactions, etc. However, perhaps one of the best sources of customer experience data goes largely untapped by the organizations that can benefit from these insights. This is the customer or client phone call, which contains valuable but unstructured voice of the customer data. Every phone interaction with a client or customer should do two things. First, it should satisfy the need of the client or customer and second, provide the organization with the data gleamed from the conversation. While organizations largely understand the importance of the first, many are missing the boat when it comes to the second.

Organizations are recording calls, but they aren’t doing it in a systematic way. Recorded calls often go unanalyzed. If only a small fraction of calls are listened to, that means that organizations are missing out on capturing the true customer experience from voice data. In order to transform unstructured voice data into actionable business insights that have a positive impact on bottom line revenue, it requires an investment in advanced call center technology, including speech analytics which provides these important insights:

Customer insights

The companies that are the most successful are the ones that make it their mission to truly understand their customers and what makes them tick. A phone call with a current or potential client or customer contains so much valuable information. From voice data, companies can determine why the call took place and what common questions or concerns about the company or its products or services may be. This information can then be used to create improved products or services or better educational materials about the products or services in order to alleviate customer concerns or complaints in the future.

Business insights

Perhaps the first segment that comes to mind within an organization in relation to customer insights is the customer service department, however customers provide insights that inform nearly all departments across a company. When voice data is accurately captured using speech analytics software it provides business intelligence that is relevant to all areas of a business including the sales department, marketing department, operations department, and more.

If your organization isn’t getting the most out of customer and client phone call interactions, it’s time to change that. Speech analytics technology mines hours of call content (voice data) in minutes, which means that, unlike other market research methods, the data is at your fingertips quickly. Why wait for days, weeks, or longer for customer data that, if properly analyzed, will keep customers happy and ensure business success?

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