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Speech analytics - making the right investment

Speech analytics - Making the right investment

We answer some questions posed by potential end-users of speech analytics technology as identified and highlighted in the Contact Babel 2014 Inner Guide to Customer Contact Analytics.

WHAT APPLICATIONS OF CUSTOMER SPEECH ANALYTICS ARE THE EASIEST TO PROVE RETURN ON INVESTMENT FOR?

Any which are related to driving the operational costs of the business down for example waste elimination would identify waste on calls relating to process, agent or customer behaviours (i.e. measure and quantify cost to business of silence on calls). Also compliance based applications have the potential to reduce costs, by managing risk and reducing the chance of fines and regulatory action against the business. Similarly any applications which focus on increasing revenue generation, for example the ability to categorise calls that didn’t have a successful outcome and identify the underlying reasons why.

WE ARE WORRIED THAT WE MIGHT BE LEFT WITH OBSOLETE TECHNOLOGY IF WE MAKE THE WRONG CHOICE BETWEEN PHONETICS AND TRANSCRIPTION - BASED SPEECH ANALYTICS SOLUTIONS. WHICH ONE IS BEST?

There is no real right or wrong here it is not a case of the old Betamax and VHS days, it’s more like opting for petrol or diesel, they both get you to the same place it just depends on what engine you’re running. There is nothing to suggest that either phonetics or transcription technology will become obsolete or that any of the vendors are choosing to change tack on what they have already invested in quite considerably to develop.