What is Speech Analytics?
Speech analytics is the process of analysing recorded audio from phone calls to help you spot trends and patterns within customer interactions. This function can also be extended across other customer contact channels including social media, email, text and web chat. Speech analytics can be used as a plug in or add on technology in addition to a call recording system, helping you make the most out of deciphering customer interactions and unlocking valuable business insight.
What does Speech Analytics do?
Effectively taking unstructured data it quickly and accurately catalogues and indexes thousands of hours of call recordings, delving into a pool of untapped knowledge, which the organisation essentially already has but does not utilise. Speech analytics technology brings structure to unstructured data, allowing the user to select key terms and phrases they wish to search for across all customer calls in order to pinpoint problem areas, call drivers, compliance issues and spot key trends.
What is the purpose of Speech Analytics?
Speech analytics gives end-users access to valuable business insight, directly from the customer and helps organisations tackle any number of areas. These include; handling exceptions, achieving compliance, improving the quality monitoring process, better optimising customer journeys and providing competitive business intelligence.
What benefits should it deliver for an organisation?
Speech analytics delivers a number of different benefits for organisations such as driving down average call handle time (by learning from previous customer calls and refining how they are handled), increasing sales revenue (by isolating the successful sales techniques which repeatedly emerge within a winning sales call), customer retention (through increased understanding of the customer journey), and compliance (through providing risk-based quality monitoring across 100% of calls). Speech analytics is a powerful differentiator for a business, with the ability to offer real time feedback on interactions and recognising problem processes before they become embedded into the culture of the organisation.