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Say What? Maximizing the Benefits of Speech Analytics

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Say What? Maximizing the Benefits of Speech Analytics

February 06, 2015

  By Rory J. Thompson, Web Editor

It goes without saying that call centers are locked in fierce competition to deliver the best possible customer service they can. The stakes are high, and savvy managers know it only takes one weak link to bring down the whole chain.

As such, they’re starting to look at every possible avenue to better their performance, and one area getting a fresh eye is speech analytics. Sean Murphy, Director of Product Marketing at Genesys (News - Alert), recently posted a blog examining this nascent technology, and offered up some interesting insights worth considering. He notes that by properly utilizing speech analytics, Genesys’ customers have achieved:

  • 23 percent reduction in average handle time (AHT) while simultaneously improving customer satisfaction more than 11 percent;
  • 18 percent improvement in first contact resolution (FCR); and
  • 41 percent improvement in sales conversions.

“The secret lies in taking a broader view by analyzing all interactions, including text-based interactions,” Murphy wrote. “At Genesys, we call this Interaction Analytics, which delivers business results in three primary ways:

  • Categorizing all conversations according to every topic discussed;
  • Automatically discovering emerging trends and unexpected events within the voice of the customer;
  • Enabling users to search for particular words or phrases within interactions.”

Murphy also says that although search is often considered the primary usage of Interaction Analytics and is definitely a key capability, “categorization is the driver behind most of the business benefits that our customers have experienced.” He adds that “it’s often crucial for an Interaction Analytics solution to enable you to automatically discover emerging trends or unexpected events that users wouldn’t have known to search for otherwise.”

According to the blog there are three kinds of Speech Analytics engines available today including phonetic, speech-to-text, and speech-to-phrase. Each has their strengths and weaknesses, but unless they’re “actionable,” they’re not of much use. Murphy says that means the analytics engine triggers actions that address the current issues or capitalize on the opportunities that are uncovered.  In short, you need to use the tool to its full advantage, in order for it to be effective.

For more helpful tips, you can download a free e-book on the subject by clicking HERE. You have nothing to lose, and customers to gain.

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