What Is Speech Analytics – and Why You Need It?

Speech analytics has become a much buzzed-about concept in contact center technology. But what is it really, and what type of difference can it make in the efficiency of your business?

Simply put, speech analytics takes call recording to the next level. Chances are you are already capturing calls – but how much valuable data is in each one of these customer engagements, that is not being utilized to best advantage? Speech analytics digs deeper into the content of each call, identifying patterns and key words and phrases that can help to further refine customer service efforts and agent training opportunities.

The technology also makes it possible to generate automated alerts triggered by voice data; this can be anything from the recurrent use of a word or a mention of a specific product, or the association of a particular attitude or emotion with a type of customer engagement. Such information is delivered in real time, so it can be acted upon immediately.

The benefits should be obvious. Here are just five of the biggest reasons why speech analytics should be something to consider at your contact center.

  • Better Customer Experiences: Now it will be easier to identify a customer’s needs, and know how to meet them
  • Agent Training: By identifying operational and performance issues, speech analytics plays a key role in agent coaching, which can ultimately lead to reducing average handle time and first call resolution
  • Saving Money: Analysis of speech analytics data can reduce contact center costs, particularly in operating expenses
  • Boosting Revenue: And why the technology contributes to cost savings, it can also increase revenues by finding up-sell and cross-sell opportunities, and tracking the effectiveness of marketing campaigns
  • Improve Customer Loyalty: If you can find out why customers are leaving, there is still time to save these relationships. Speech analytics makes it possible.