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Behold the Power of Speech Analytics

Proactive Customer Communications Featured Articles

Behold the Power of Speech Analytics

 
February 09, 2015

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  By Rory J. Thompson, Web Editor
 


It’s a given in the call center industry that the more tools you have at your disposal – and use correctly – the more successful you’ll be. Yet one tool that everyone can use but still remains somewhat in the shadows is speech analytics.


That’s a shame, because research and first-hand experience has shown it useful in boosting your numbers and retaining clients over the long haul.

In a recent blog post, Sean Murphy, head of Product Marketing for Interaction Analytics at Genesys (News - Alert), explained how he’s using speech analytic to great success at the call center leader. He listed some of the recent results he’s noted including:

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

Murphy notes that Genesys achieved these significant numbers by what he calls “Interaction Analytics”, which delivers business results by categorizing all conversations according to every topic discussed, automatically discovering emerging trends and unexpected events within the voice of the customer, and enabling users to search for particular words or phrases within interactions.

“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,” Murphy writes. “Also, since ‘you don’t know what you don’t know,’ it’s often crucial for an Interaction Analytics solution to be able you to automatically discover emerging trends or unexpected events that users wouldn’t have known to search for otherwise.”

Murphy goes on to note that the best way to achieve full benefits from Interaction Analytics is to transcribe 100 percent of your organization’s calls into text.  And because there is always some loss in translation, he notes that “speech-to-phrase engines are the most reliable for speech categorization.

Murphy has other insights in his blog worth noting, but the biggest takeaway is to simply start analyzing all your calls. It’s a pretty sure bet your competition is already doing so.




Edited by Maurice Nagle
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