Speech analytics is transforming many aspects of business, capturing huge swaths of previously lost data to power business intelligence. This transformation is particularly advanced in businesses operating call centers. Consider the huge volume of information in a typical customer interaction. With the ability to capture and parse that information you can identify patterns and take immediate action to remedy and improve selling situations, which often go on to increase sales conversion rates. So that’s one especially compelling use case – but what are the other key benefits of speech analytics?
Improved Customer Experience
This is one of the major reasons call centers first adopt speech analytics technology. By allowing call centre teams to mine and analyze audio data they can detect emotion, tone and stress in a customer’s voice. Managers and call centre team members can quickly identify a customer’s needs, wants and expectations, and gauge how to best address the customer issue.
Reduced Costs and Improved Revenues
Business 101 – drive revenues up and costs down. Speech analytics can deliver effective and rapid ROI (Return On Investment) through both of these through a greater sales conversion rate and reduction in call centre service delivery time and costs. The introduction of speech analytics often provides a welcome reduction in cost of unnecessary callbacks after improving first-call resolution rates. Call centers can be more efficient through the avoidance of live calls that can be handled by effective IVR or website self-service systems. The savings can be endless with reduced cost of quality assurance and monitoring and often lower cost per calls due to the faster efficient call handle times and fewer transfers.
Faster feedback & revenue
Speech analytics can drive accelerated business growth simply by analyzing which conversations lead to more sales, sales & call centers can focus their efforts. Teams can understand what makes the most effective sales managers while managers can focus on the best performing and most effective patterns to close sales deals and develop a training program to mentor other team members. With the faster feedback and deeper insight, a natural increase in sales conversion rates will occur.
Quicker responses can often make teams increase their customer and sales performance.
Zadarma is a leading VoIP provider and offers a smart speech recognition feature as part of their incredibly easy to use, highly affordable, telecommunications offering. The tool enables a computer to identify and respond to human speech. Recorded voice is transcribed into text with the help of neural networks and sound models that account for the structure of different languages. Zadarma has an established data centre in Hong Kong and can provide VoIP services globally. Zadarma partners with premier speech recognition specialists and provides a top-quality recognition & analytics service with incredible accuracy.
Customer service & sales teams have valued speech recognition and speech analytics tools within the telecom space. This smart technology helps to simplify internal processes and make it easier for managers to organize tasks. Speech recognition & analytics technology will be a fast-growing, transformative subset of signal processing & analytics for years to come.
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