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Which Speech Analytics solution is best for you?

Which Speech Analytics solution is best for you?

Which Speech Analytics solution is best for you? 

Speech Analytics is rapidly becoming a vital tool in organisations for delivering insight, driving business transformation and improving performance. There are a number of options available for speech analytics on the market today. Careful consideration is required when deciding on the best fit Analytics solution for your organisation.

The fundamental question to ask is why or what is driving the need for Analytics?  

What are the business issues or objectives?  If this is not thoroughly considered in advance then an Analytics deployment can quickly lose traction and integrity.  A Proof of Concept may help to shape the benefits and initial areas for analysis.  This normally focuses on a few carefully selected objectives that will support a business case or the agreed strategic objectives. Areas for focus can include operational efficiency, customer journey, agent performance, marketing effectiveness and compliance. 

Consideration should also be given to the interactions being analysed.  Most vendors will be able to provide true speech analytics plus a multi-channel offering.  Text analytics covers email, web chat and social media. To truly map out the customer journey for all contact points then multi-channel is the way to go as it allows an organisation to link the various contact points together.

Different levels of analytics solutions are available  

Entry level analytics can be a desktop based application used mainly for finding key words and phrases.  The more sophisticated enterprise level Analytics includes a number of modules covering; ad hoc searching, reporting suites, QM capabilities and the ability to integrate into other third party business intelligence tools. 

Enterprise Analytics  

Enterprise Analytics will enable the organisation to understand call drivers and outcomes through the categorisation of interactions.  It will also enable context driven analysis through correlations and trend analysis.  Integration to other data is also a key feature for Enterprise Analytics.  This can take the output of analytics and link it to other related business and customer data.  As such Enterprise Analytics not only provides the reasons for call drivers but also the context and root cause behind them. This can then be used for business transformation. 

Underlying technology for Analytics 

The underlying technology for Analytics may also be a deciding factor.   The main types provided include phonetic based analytics. This is where the audio is converted to enable phonetic searches.  Speech to Text or Transcription based analytics is also available.  This is also known as Large Vocabulary Continuous Speech Recognition (LVCSR), in LVCSR a call is transcribed into text in order for the analysis and keyword spotting to take place.  

Speed of Insight 

The speed of insight is also an important consideration. Analytics can be used for historical reporting, near real time and also real time analytics for alerting and process guidance.  For some organisations that are interested in trending and demand analysis then historical reporting may suffice.  Real time analytics is also possible.  This will provide alerts in real time based on key phrase triggers. For sectors with the need for compliance or revenue generation, real time analytics is useful for highlighting opportunities or process guidance.

Deployment Options 

Vendors are often flexible in the deployment models for Analytics.  Deployments can be on premise with the technology based on site.  Hosted analytics is also available. This may be offered as a managed service whereby the analytics is provided by the solution provider. This may be an option if the required skill sets are not currently available in the organisation. 

Finally, it’s important to understand the skill set and experience of the provider. Analytics is not just a technological change but also a power enabler of business transformation.  Support and best practice and a consultative approach is often required to ensure the benefits are realised at the earliest opportunity.