February 23, 2012
Speech Analytics Use of IVR Proves Successful
Every business wants to know why a customer buys a particular product, especially if it’s their product. Identifying the key drivers of interactive voice response (IVR) using speech analytics is a crucial tool in discovering an organization’s best strategy.
According to this Bitpipe white paper, organizations are attempting to find the best intelligent and automatic way to comprehend why customers buy what they do. IVR could be a solution to objectively obtain results to help businesses learn what features customers are looking for without breaking the budget.
Speech analytics using IVR can review feedback from customers to supply an effective CRM (customer relationship management) transaction and financial information. This helps to correlate what customers are up to at the moment but not long term spending habits.
Feedback from customers can come in many forms. There’s feedback from in-store surveys, product reviews on company websites and comments via customer service centers. The difficulty with these formats is that traditional analytics aren’t able to truly collect and process the information.
For feedback to serve its intended purpose, it needs to be identified by patterns of customer’s shopping habits and their comments. Since there are multiple channels to obtain the information using an IVR solution is a step toward the industry’s seven best practices.
As with any task, begin by prioritizing business efforts. If the company clearly needs to focus on competitors, an IVR can help achieve pricing margins by helping to understand how much price influenced purchases. Decide early on what priorities need to be placed on the business and let IVR do the rest by tapping into deeper levels of analytics.
Another challenge is IVR systems that help the user may limit the responses by limiting the terms used in recordings. Using a more expanded level of speech analytics with IVR can develop more detailed results taken out of context. IVR can also boost productivity by eliminating the need for blind quality monitoring processes.
With IVR, supervisors can more accurately find calls to review. The analytics can decipher which agents are showcasing particular strengths and weaknesses as well as corporate requirements.Consider IVR with Autonomy (News - Alert) as a whole solution and not just an answer to analyzing recordings in call centers, survey information or even social media. Autonomy provides an IVR system that looks at the entire customer service experience.
This can be a great advantage when reviewing channel biases. With that businesses need to provide richer segmentation through their desktop information that can easily attach to call recording. Having the best resources in the way of employees and the tools the employees use to do their jobs makes daily operations a win win situation.Speech analytics gives businesses the added boost to really delve into the customer’s world. IVR connects the dots and by connected businesses with their customers for a seamless relationship. The ability to expand the IVR results throughout the company can extend the enterprise going viral as well.
Edited by Juliana Kenny