Speech analytics software is more than just a call center tool. It provides data that can be beneficial across the organization as a whole. Of course, that is only the case if it is being used properly. In addition to investing in speech analytics software, a company must also be able to dedicate additional resources towards its use in order for it to be effective.
To achieve value from speech analytics it’s necessary to:
Define business objectives
Why are you using speech analytics software? What do you hope to achieve? What are your goals? Are you primarily investing in the software in order to monitor agents, monitor compliance, improve marketing and sales initiatives, or all of the above? Once these goals are determined, the next step is to determine what keywords to mine for in the recorded conversations. A speech analytics solution doesn’t work “right out of the box.” It needs to be set up properly and customized to each company’s needs. This isn’t just necessary at the onset of implementation. It’s an ongoing process. It’s important to continually be updating the list of keywords that are searched for based on what’s going on in the business. For example, when you launch a new ad campaign it’s worthwhile to mine for any related keywords in order to monitor the response to the ad campaign.
Invest in analysis
Speech analytics software can mine the calls and provide detailed reports, but who will be analyzing these reports? Without proper analysis, the detailed insights from the data are missed and the data isn’t as valuable as it should be. A company needs to hire the right people that can properly analyze the data and put the pieces together to pick out the key trends (and the underlying reasons for those trends) that are relevant to the business objectives set forth.
Some companies are missing the mark by investing in speech analytics, but then only looking at high-level data because they don’t have the resources available to use it more effectively. The benefits of speech analytics can only be achieved by making additional investments in order to define the business objectives the speech analytics tool will be used to monitor and employing the people who will then turn the data into actionable insights.