NICE Systems Recognized for Workforce Optimization Speech Analytics Solution
January 24, 2013
By Rachel Ramsey, TMCnet Web Editor
In today’s always-connected world, organizations need to be prepared to handle customers through any medium and at any time. Real-time speech analytics takes traditional speech analytics to the next level by analyzing customer interactions while they happen, perfecting the customer experience and delivering business value.
For the fourth consecutive year, DMG Consulting LLC, an industry analyst and consulting firm specializing in customer-focused business strategy, operations and technology services, recognized NICE Systems (News - Alert) as a global market leader in speech analytics, holding a 28.3 percent market share based on number of seats and has the largest number of customers.
NICE’s Real-Time Speech Analytics solution for the enterprise enables users to understand customer intent while the customer interaction with the contact center agent is occurring, giving NICE clients better control over their agent performance for an immediate impact.
By integrating real-time speech analytics with their organizations performances, businesses will be able to address strategic business issues with everything from improving customer loyalty and enhancing contact center efficiency to increasing revenue from inbound calls. The speech analytics are able to automatically identify sales opportunities during customer calls as the software is able to analyze the conversation’s content.
In DMG’s Speech Analytics report, NICE received a perfect CSAT score in two categories: innovation and speech analytics workshops. In the category of product satisfaction, the company earned the top score with a rating of “highly satisfied” based on criteria that included ease of configuration, system flexibility, ability to conduct root cause analysis, ability to conduct discovery and more.
“Speech analytics is a key application in the emerging area of multichannel analytics. DMG expects the speech analytics market to continue to perform very well for the next several years, with projected growth rates ranging from 22 to 16 percent between 2012 and 2015,” said Donna Fluss, president, DMG Consulting LLC, in a statement. “Real-time analytics and guidance solutions are also starting to catch on in contact centers. This emerging group of applications is dedicated to influencing or altering the outcomes of customer interactions and has great potential benefits for contact centers.”
The NICE Speech Analytics technology includes root cause analysis, emotion detection and sentiment analysis, and is an essential component of the company’s workforce optimization suite. NICE’s unique Real-Time Speech Analytics solution provides automated agent guidance and next-best-action prompts while the interaction is taking place, and can immediately notify decision-makers about an important event.
When real-time speech analytics identifies an actionable insight, it triggers NICE Real-Time Process Optimization to deliver customized guidance directly to the agent’s desktop. This guidance helps the agent address the customer question, resolve a problem, effectively up-sell or cross-sell a new product or service, improve customer satisfaction, or mitigate a churn risk—whatever is needed to produce the most favorable outcome.
“We are pleased to be recognized year after year as the market leader in speech analytics. As noted in the report, we are also one of the leading providers of real-time analytics technology,” said Yochai Rozenblat, president of the Enterprise Group at NICE. “Above all, we strive to provide the best possible solutions for our customers. We believe our success here is reflected in our high CSAT scores for innovation and product satisfaction.”
NICE recently received the 2012 Ventana Research Technology Innovation Award for operational innovation in the contact center. It was recognized for its Cross-Channel Interaction Analytics solution, a visionary and transformative technology that advances contact center operations and promotes overall business effectiveness.
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Edited by Allison Boccamazzo