5 Essential Advantages of Speech Analytics and How Businesses Can Flourish Because of Them

Speech analytics is at the forefront of the corporate movement to make Big Data intelligence helpful and actionable in real-time. Speech analytics helps businesses generate measurable voice data and conversation patterns, which help them enhance customer experience, cut costs, and raise sales in their contact centers and other operation fields.

Speech analytics, formerly known as audio-mining, entails in-depth searches focused on phonetics and the potential to spot certain feelings displayed on a phone call and speech patterns within a call, such as hold times, quiet patches, or agents tabbing.

Let’s look at tools such as Awaken’s Speech Analytics and how they can help call centers operate more smoothly and offer their valued customers the best possible experience.

 

Improved Customer Support

Any call center’s top priority is to offer the best quality service to clients and ensure that they have a good experience. Speech analytics can easily evaluate the customer’s feelings, as well as the customer’s intent.

This will provide the agent with details they need to deliver the best support and recognize their needs and desires.

If a customer’s emotion is changing negatively throughout the call, an agent can quickly be alerted to resolve and before emotions run high.

Agents can be more mindful of when empathy is necessary, which can be quickly overlooked when dealing with large amounts of calls daily.

Recognize Wavering Customers

Customers will come and go, and they will not always remain faithful to a company. Speech analytics, on the other hand, will substantially reduce the risk of losing clients.

It may recognize phrases used by callers that often result in contract cancellations. When an operator was unable to resolve the issue during the first phone call, voice analytics offers a forum for collecting data from these callers into a database. Agents or salespeople may use this information to make follow-up phone calls or emails to minimize the chances of a customer leaving.

 

Locate Training Gaps

Many companies have forgotten about recruitment and upskilling as they concentrate on keeping clients happy and struggling to stay alive in what has been a strange year for all of us. When so many people now work remotely, it can be difficult to pinpoint areas that need investigation or which agents are having trouble with them.

Speech analytics will analyze communications between agents and callers to find places where expectations are not met. This may be anyone from irate clients to those who use terms and phrases synonymous with leaving the company; it can also sense delays and ‘ers’ and ‘ums’ in a dialogue, indicating a lack of confidence from the agent.

Managers may also receive an in-depth and reliable briefing on areas that need attention or employees that may require additional assistance.

Reduce Complaints by Remaining Compliant

Companies are subject to a series of rules that they must follow within the industry. While all officers should be adequately qualified to stay compliant and have the appropriate information and guidance, this isn’t always the case. A lack of compliance can be very costly to any company; not only can it damage the brand’s reputation, but it can also result in hefty fines and other severe repercussions.

By capturing words and expressions, voice analytics can predict when agents have broken the rules and perhaps sent incorrect information to a client.

 

Enhances All Aspects of Key Metrics

Speech analytics affects KPIs in the contact center by identifying trends that can contribute to best practices. Speech Analytics assists in achieving real “Customer Insight” by searching content at certain key moments such as these:

First-Call resolution

Speech analytics has also helped assess if repetitive calls to an organization about a specific issue are dealt with. The data collected from speech analytics can be used to provide first-call resolution. As a result, the cumulative number of repeat callers will decline, resulting in increased reliability and lower cost per call. Reducing repeat calls also improves customer loyalty.

Average Handling Time

The typical handle time is the duration it takes an agent to answer a call before he or she hangs up. Since it is specifically related to caller satisfaction, it is one of the most widely studied KPIs in the call center industry. Long calls will raise contact center costs. That is good if they are warranted, such as when agents with longer calls deliver higher revenue per call.

However, longer calls may be the product of bad attitudes or a lack of experience on the part of the agents. Fast AHTs can also mean that agents are more concerned with managing calls efficiently and are not taking the time to manage orders or address customer problems adequately.

A Streamlined Customer Experience

Speech analytics data may be used to draw clear conclusions about customers’ emotions and the steps that need to be taken at the time of the call. Routing consumers to the proper office is also a big factor in customer satisfaction, as it increases the likelihood of achieving first-call resolution. These real-time triggers can optimize information workflows and make the contact center function more effectively.