Speech Analytics & Its Benefits
Customer experience is becoming the key to success for most businesses. But understanding what customers want and think about a brand is daunting without the help of technology. This is where speech analytics technology comes into play.
Quadrant Knowledge Solutions is the business management consultants, defines it as a solution that identifies, classifies, analyses and transcribes recorded or live calls using automated speech recognition and audio mining tools to find useful information about the call and improve quality. It uses artificial intelligence to automate and recognize words and voice patterns to understand the emotions, stress levels and silences of the speaker while speaking. The Speech Analytics solution transcribes all customer interactions and organizes them into searchable data.
This means that instead of being limited to just a select sample of conversations, you are now analyzing the entire selection of conversations that took place across all channels. This allows you to identify issues that may appear as major issues over multiple calls that were previously overlooked. Instead of making decisions based on customer opinions, they learn for themselves what customers feel and think about their brand. In addition, it provides a better picture of employees and their performance based on their interactions. This knowledge, based on strong analytics, delivers superior results in improving customer relationships and agent efficiency.
Speech Analytics benefits for Contact Centres: Listed below are some of the key benefits of contact center call analytics. Improved customer experience With detailed real-time insight and analysis based on a larger set of data collected and organized by Speech Analytics, contact centers can learn what customers need and value. They can use this to direct their interactions with their customers, improving their overall experience.
A better customer experience would ultimately mean greater customer satisfaction and loyalty. Decreased customer turnover Customer churn is the rate at which customers leave your brand to choose another option. With a better customer experience, the company gains customer satisfaction and loyalty.
They improve their customer relationships based on insights. This will reduce customer turnover if they feel the company understands them and provides what they expect. Better agent performance The work of customer service representatives is critical to the success of contact centers. Managers can measure and evaluate this in great detail using speech analytics.
The monitoring process becomes quite simple with real-time dashboards, visualizations and several matrices such as agent conversation topic (conversation topic), volume, speed, customer mood, information search time (time needed to find an agent). information needed for the conversation) and overall speaking quality scores.
This gives the manager a lot of insight into what the agents are lacking and what could be improved. In fact, the insights provided by contact center voice analytics are so finely crafted that they can analyze each agent's performance in this way and pinpoint areas for improvement. The information collected may also be used to develop agent training programs and other initiatives.
Better customer data collection and analysis Call analytics captures otherwise less accessible information from customer service calls and makes them actionable by analyzing and creating insights about customers that would rarely be discovered through customer surveys or other methods. By integrating it with CRM software, a company can collect customer data from all possible interactions and social media.