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Speech Analytics

Speech Analytics primarily refers to techniques used to analyze speech. This involves analyzing characteristics of spoken words, phrases and linking with tone and volume of the audio.

The process of Speech Analytics can broadly be described as follows:

  • Extract keywords or phrases from the speech important for a specific business challenge or objective.
  • Identify the gender of the speaker.
  • Separate speech from non-speech content (e.g. noise, silence, etc.).
  • Understand the emotional character of the speech. e.g. unsatisfied customer will have certain characteristics as compared to a customer just making an enquiry.
  • Use a combination of above to get desired intelligence.

Speech Analytics is being increasingly used by Contact Centers. The intelligence, which otherwise is never captured, can be extremely useful to understand customer needs and perception about the company. The information gained can be used to:

  • Evaluate customer experience with company procedures and policies, and identify issues.
  • Analyze agents’ performance and their adherence to standards.
  • Improve productivity of contact center by identifying reasons for repeat calls.
  • Understand what customers say about products. From a marketing standpoint, it can help in reducing spend on focus groups. It tells not just improvement areas for a product but also the strength of the product of the company vis-à-vis competitors.
  • Identify customers who are likely to attrite and proactively reach them out for retention.

As per Aberdeen Research report in 2008, 31 percent of best-in-class organizations use speech analytics technologies. The increase in deployment of these technologies is driven by demanding customers who want faster services from call centre agents. The report also suggests that 43% of survey respondents have no idea what speech analytics is. This indicates that many of those who are aware of its qualities have been sufficiently impressed to embrace the technology.

Out of the organizations who have implemented Speech Analytics, an overwhelming percentage (66%) of companies indicated that they implemented speech analytics to improve the customer experience. Improving customer retention (24%), reducing costs (24%), and improving compliance monitoring efficiency (22%) are other important reasons for which the organizations use speech analytics.

Speech Analytics technology provides insights into sales, service and products pulled not just from call center interactions but a true Voice of Customer. Outsourced call centers are bringing speech analytics to the attention of their clients as an add-on service. The usage of Speech Analytics will continue to grow though the current adoption level is low.

 

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