Speech analytics is the process of analyzing and transcribing recorded or live calls to extract insights from them. Earlier this process was done manually but is now automatic using advanced AI and its Natural Language Processing (NLP) capabilities. A speech analytics solution for your calls can help you monitor customer conversations and identify sentiments, trends, and agent performance.
How Speech Analytics Tools Work
Here’s how an automatic speech analytics software processes and interprets your contact center call data:
- Transcription: It converts the agent’s and the caller’s verbal communication into text for your team to analyze.
- Keyword Identification: It can also detect specific terms or phrases used by the caller. These could be product names or complaint triggers. So when you filter your call data, you can quickly see the customer’s issue and the resolution provided.
- Sentiment Analysis: Sentiment analysis uses the caller’s tone, pace of talking, and other emotional indicators (language) to assess satisfaction levels.
- Actionable Insights: By combining the data from transcription, keywords, and sentiment analysis, the tool can provide you insights on how to improve your calls. These can be related to answer times, call times, agent performance, solution provided, etc.
Benefits of Speech Analytics
People convey what they want and what they are feeling through words. Speech analytics allows you to take a closer look at customer interactions and make necessary changes. Here are some of the top benefits.
- Improved Customer Experience: Customer insights can be valuable when you write call scripts, set up flows, and train agents. With actionable feedback on your current process, you can tweak your approach to improve customer interactions.
- Enhanced Agent Feedback: When it is time to give agents feedback, software that quantifies customer experience can be highly useful. Managers can share targeted feedback to make quick improvements.
- Increased Operational Efficiency: Speech Analytics solutions can detect recurring issues across agents and call types. This can help you address these issues for everyone.
- Compliance and Risk Management: An automatic speech recognition software helps you maintain compliance on a center-wide level. You will know if and when someone breaks protocol, in which can, you can quickly take the necessary next steps.
Optimizing Operations with Speech Analytics
We’ve established that a speech analytics tool is a great addition to your contact center tech stack. Here’s how to use the data provided by these tools.
- Tailored Training: Beyond the standard training exercise, you can also identify skill gaps on an individual level and then address specific requirements. This could be better call handling or a greater use of empathetic language.
- Root Cause Analysis: Look for patterns in customer calls and find failure points, these are the times when you are unable to help the caller. You can then resolve the root cause, once and for all.
- Real-Time Alerts: If a conversation is spiraling downward, you can set up the software to provide automatic notifications. Then the managers can intervene and communicate as they feel fit.
- Trend Analysis: Continuous monitoring will eventually bring patterns in customer calls. Use this to update training documents on the fly. This helps you iron out issues on a regular basis.
