What is speech analytics?

Speech analytics tools are destroying the only defense against robots taking over the world: the notion that machines cannot understand human feelings. Going far beyond separating calls into “good” or “bad,” Emotional Intelligent AI (Artificial Intelligence) in speech analytics tools analyzes customer sentiment to tell if you are providing first-class “customer service” and whether your customer is truly happy.

Speech analytics can provide insight into the issues your customers call most often, provide real-time analytics of agent behavior, and track changes in “subtle” metrics (check this for details https://callgear.com/).

We spoke with two of the leading developers in the speech analytics market to learn more about how speech analytics works and why these tools are worth your attention.

MAXIMUM RESULT

Debt collectors (collectors), who were among the first to use speech analysis software in their practice, use it not only to ensure that agents comply with regulatory requirements (the law), but also to improve the quality of customer service.

You will be surprised, but yes, even debt collectors care about how you feel emotionally as it depends on whether they can persuade you to pay the debt.

In some companies, agents are required to provide a statement of compliance at the start of a call, such as a healthcare provider explaining the patient’s privacy policy. The speech analysis software can notify the agent with a reminder if he has not done so within a specified time.

“The algorithm is based on the absence of communication phrases in the dialogue. Speech analytics in real time allows just tracking this trigger until the desired phrase is voiced,” our interlocutor explained.
The ability to track calls in real time is even more important for organizations that provide legal advice or, say, advice on insurance benefits. Speaking about cases, our interlocutor referred to a quality control manager in a company that provides HR consultations to enterprises. So, the client of the company has been instructed to supervise the agents who must provide information very accurately or be liable for damages if the client tries to file an insurance claim and there is a problem with enrollment or compliance.

“One of the problems is that we are really having complex dialogues in terms of the process. We have 19 different business scenarios, presented in script format, which must be consistently processed by operators.”
Most speech analysis tools provide complete transcriptions (transcripts, transcripts) and call recordings, as well as post-call analysis that evaluates the quality of service. Leading platforms provide real-time analytics that can send alerts to a manager or manager, or retrieve a specific article from the knowledge base for an agent.

For example, if an agent is trying to sell a product, and a customer refers to a competitor’s product or promotion, the software might push a corresponding offer from the CRM system so the agent can counter-offer: “Well, we can make you a better offer. Here’s our latest campaign. … “.

In addition to helping CC in assessing common KPIs, such as FCR (First call resolution), speech analytics provides a deep dive into the question that we all simply cannot resist asking our clients: “How did I serve you? ? Are you happy? ”

Case study: after using a speech analytics tool, a well-known player in the consumer goods market discovered a product defect after KC’s speech analytics software cited a recurring complaint about a very specific problem as the main reason for the sharp increase in call volume.

“Noting the surge in requests to the CC for a specific product defect, the company conducted a study on social networks and the problem was confirmed.”
When it comes to sales, companies are constantly honing sales processes and scripts. Using voice analytics tools to view calls that ended in a successful sale, one of the largest infrastructure security vendors created a project to help vendors increase sales.

“They just analyzed the calls that ended in a sale. As a result of the analysis, patterns and understandable patterns were identified in the conversations of successful salespeople. This allowed us to significantly improve the process and boost the sales department.”
Analytics can also help a company address internal customer support gaps such as knowledge / competency gaps or excessive call transfers.