The importance of data is unquestionable. Speech analytics emerged in the early 2000s and is now vital in contact centres. Of course, its prominent rise is treasured by every company and enterprise to run the business.
Some companies may have difficulties implementing speech analytics, but they know the importance of speech analytics, and how it impacts their businesses. A typical contemporary business looks to convert phone conversations into analytical data. It helps to establish strategies that build a company by optimising its overall operation and customer management.
Moreover, your company requires modern reliable speech analytics to remain a giant in the competition. Meanwhile, how will speech analytics evolve in the future?
1. Excellent Transcription
Modern speech analytics has evolved rapidly into conversational analytics that your team can combine with contact centre scripting software. In this regard, you can expect excellent transcription quality out of the box. Your service provider should provide predefined and installed topic lexicons and custom languages to ease the performance. Besides, it saves lengthy hours of tuning personally.
Also, make sure you can import call transcriptions into other solutions. It adds value to the existing technology stack and encourages seamless workflow for transparent action.
2. Data Accuracy
It is typical of speech analytics to allow accurate cataloguing of thousand-hour recordings. It helps the categorisation of the calls with frequent references to competitors and their pricing. It also captures the customer’s voice properly for significant analysis and thoughtful business insight.
3. Easier Understanding and Prediction
After playing by the contact centre script, speech analytics breaks down complex data for easier understanding. Trending topics are simplified by the AI, and offers near-accurate predictions.
Moreover, speech solutions should offer acoustic analytics that detects silent time regarding text analytics and dialogue transcription.
It should similarly detect vocal emotion and over talk, which creates multiple options to discover topics that drive positive and negative customer impact. Of course, this practice helps your agents to solve customer-related problems satisfactorily.
4. Enhanced First Call Resolution
Apart from an effective contact centre script, contact centres also attempt to establish a first call resolution. It saves time, and a further reason is that only a sample of calls is checked. Moreover, there is no satisfying evidence to establish trends that enhance the execution of fresh initiatives.
Furthermore, speech analytics compile interaction data, including calls that sell, did not close, or reach a positive outcome. It offers measurable data on a large scale that improves first call resolution and enhances call routing.
5. Agent Analysis Automation
Following conversational analytics from a quality assurance perspective, you can automate call evaluation. It eliminates the traditional extended processes that involve QA listening to calls manually to measure agents’ performances.
Automated agent evaluation through each call provides enough time for coaching agents, rather than analyse data all day. Moreover, the accessibility of dashboard by agents keeps presents them with their stat. Their performance becomes measurable, and they see the need to improve. Every employee expects to be the most appreciated in any organisation, and this feature helps, especially the teleworking call agents.
Advanced Speech Analytics is All Humanised
Contemporary speech analytics shifts to advanced phrase recognition from simple word recognition. Little wonders why it’s referred to as conversational analytics.
The humanised concept focuses on migrating business interactions to qualitative analysis from quantitative number-based feedback of the conversational phrases.
The new system allows phrase-based recognition that develops seamless speech analytics to realise customer satisfaction.
Speech Analytics: An End to Poor Calls
The expression, “this call may be recorded for quality assurance” encourages excellent agent-customer calls. Customer service and quality assurance function collectively. While an agent plays by the contact centre script, it ensures they do not depart from the script excessively.
Speech analytics systems maintain quality assurance by discovering how agents go by the script, and the keywords used during call conversations.
The end-product is the mitigation in the rate of poor calls, which encourages positive calls. In this regard, your call centre maximises its success with trending information by educating the call agents.
Take Charge of Your Organisation’s Future
Speech analytics brings openness to the future of conversational analysis. Its prominence is unquestionable, and the market continues to surge at a faster pace.
According to Mordor Intelligence, In 2020, the speech analytics market was valued at $1649.34 (£1200.70) million and projected to hit $5460.66 (£3976.29) million 2026. The growth is expected at a CAGR of 22.14% between 2021 and 2026 (the forecast period).
Following the trend, speech analytics technology is the newest fast-growing tech solution in the industry. It is reputable for converting call recordings to actionable data. Moreover, it translates the data into valuable insights that aid an enterprise to devise better strategies.
By combining reliable contact centre scripting software and speech analytics, your organisation handles an extensive range of customer interactions. Businesses worldwide that incorporate speech analytics by combining social media, internally recorded data and external syndicated data understand customer requirements better.