If a company wants to gain business intelligence, increase company (or department) revenues, control costs, or diminish their overall risk, then recording and analyzing incoming calls is the most affordable and efficient way of closing these knowledge gaps.
Before implementing a solution, however, there are some important considerations, such as:
- Type of search technology to use: phonetic search or dictionary search
- Cloud-based vs. hardware and software installation
- Call recording technology: in-house, third-party or all-in-one solution
There are two main technologies used to power speech analytics: speech-to-text and phonetics-based. Speech-to-text technology is based on a large vocabulary continuous speech recognition (LVCSR) engine, which translates audio recordings into searchable text. Speech-to-text is dependent upon a language model and dictionary to identify words correctly.
A phonetics-based speech analytics product scans the recordings and uses the original audio files to identify the string of phonemes (the smallest units of sound that make up language) that match the search criteria. The phonetics-based technology does not require a language model or dictionary. Phoneme-based speech analytics also allow for broader search terms including industry jargon, product names, acronyms, multiple languages, accents and dialects, and other broad terms.
More technology providers are moving to offering cloud-based solutions. Cloud-based solutions offer real-time analysis of customers’ wants and needs at a dramatically lower cost to implement and support than hardware based analytics products. Cloud solutions allow businesses to quickly and affordably tap into hidden intelligence.
In fact, many contact center industry insiders consider the move to cloud-based speech analytics to be one of the most important developments in contact center operations.
Finally, it’s important to look at where calls are recorded and how they are processed through the speech analytics solution. Using a provider that processes incoming calls through their own platform has inherent benefits. The process is smoother, faster, and their services can be more affordable without third-party recording vendors involved.
It is critical to address these issues before delving into a contract or purchase of a speech analytics solution. Learn more and schedule a live demo of our CallFinder’s cloud-based speech analytics technology.