Speech Analytics Can Boost Customer Experience

by CXOtoday News Desk    Feb 14, 2018

speech

Speech analytics is one of the fastest growing technology segments in the contact center market. It is a technology that delivers rapid insight into a range of improvement opportunities, based on an analysis of a large number of customer conversations. Some of the benefits of speech analytics include an improved understanding of customer behaviors, potential revenue opportunities, as well as positive and negative aspects of service interactions.

Business impact of speech analytics is maximum in customer experience (40%) followed by cost savings (28%) 47% companies believe speech analytics is helpful for ‘Quick identification of customer intent and resolution of issues’ according to a new research commissioned by Uniphore and conducted by Opus Research.

The survey conducted in mid-2017, across North America, Southeast Asia, India and Europe, highlight that among various reasons for deployment of speech analytics, 57% companies attached highest importance to discovering root cause of customer frustration followed by workforce optimization strategies (51%) and quick identification of customer intent and resolution of issues (47%).

The report shows that adoption of speech analytics has risen from 49% to 90% in 2017 as compared to 2016. In Southeast Asia, the biggest business impact of deploying speech analytics is maximum in customer experience (40%), cost savings (28%) and revenue enhancement (15%).

Ravi Saraogi, Co-Founder & President (APAC), Uniphore believes that the Southeast Asian market has made great progress in adoption of speech analytics technologies. The results of the survey clearly indicate how businesses see the deployment of speech analytics as a critical aspect to their growth. [Read the full report here]

Gartner, in its report “Getting Value From Speech Analytics in the Contact Center”, describes the most innovative aspects of a speech analytics tool: includes emotion detection, where by monitoring the words used and changes in tone of voice and volume reveals the emotional state of the customer and the operator as also conversation analysis, in which separating the customer and operator sound tracks makes it possible to perform a detailed analysis of the progress of the conversation.

Occurrences like a long pause in the conversation or speaking at the same time are flagged as potential interaction issues. Breaks in the conversation, for example, suggest that action should be taken to improve operator preparation, while speaking at the same time can point to a dissatisfied customer.