Why Your Company Should Implement Speech Analytics Soon
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Why Your Company Should Implement Speech Analytics Soon

October 14, 2015 by Morgan Pulitzer

According to the latest research from DMG Consulting and ContactBabel, the number of contact centers currently using interaction analytics is just slightly less than 20 percent. However, of the more than 80 percent of contact centers that do not have analytics in place, 25 percent have plans for implementation in the not-too-distant future.

Will your company be one of them? Here are 4 reasons why it should be:

To gain a competitive advantage

According to Donna Fluss, founder and president of DMG Consulting, contact centers have not been quick to adopt analytics. The technology is only slowly being rolled out. This means that the contact centers and businesses that invest in the technology now are going to have a competitive advantage over those that aren’t yet utilizing it and don’t have plans to in the near future. It also allows businesses to remain competitive with those that have implemented it, instead of falling behind.

Access to near real-time data

Basic call recording software is now standard in the call center, but it’s no longer sufficient. The process of manually listening in on a handful of calls to gather business intelligence has become antiquated. The data isn’t reliable because you’re not getting the whole story and it can take days, weeks, or months to gather it. At that point it may be useless. Speech analytics software, on the other hand, provides near real-time data. Data can be gathered from multiple calls in a matter of minutes, allowing call centers and business owners to make quick decisions that will improve business practices.

It’s within reach

The cloud has essentially leveled the playing field. You don’t need to be a large corporation with a large budget to enjoy the benefits of top rate software solutions. Cloud-based speech analytics software is more affordable than the alternative because no hardware or software is required to install on a company’s network and little to no involvement is needed from the IT department, including maintenance time.

A greater emphasis on customer service

Does your company have a customer service focus? If not, it should. Consumers today expect and demand a high level of customer service at all times and at every touchpoint. Speech analytics software provides greater access to voice of the customer data, allowing companies to extract key insights from the data to improve the overall customer experience.

If your company has yet to invest in speech analytics technology, the time to do so is now in order to gain access to key customer data and to avoid falling behind the competition.

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