Speech analytics refers to the process of analyzing recorded calls to gather customer information to improve communication and future interaction. The process is primarily used by customer contact centers to extract information regarding client interactions with an enterprise. Speech analytics is somewhat similar to automatic speech recognition, however, it can also be used for analyzing the topic being discussed, which is weighed against the emotional character of the speech and the amount and locations of speech versus non-speech during the interaction. The technology can be leveraged to know about cost drivers, trend analysis, identify strengths and weaknesses with processes and products, and help understand how the marketplace perceives offerings.
Speech analytics applications are capable of spotting spoken keywords or phrases, either as real-time alerts on live audio or as a post-processing step on recorded speech. It can also be used for categorization of speech in the contact center environment to identify calls from unsatisfied customers.
Call centers employ speech analytics software to identify things like the reason for the call, the products mentioned and the caller’s mood. Speech analytics software is capable of quickly identifying a customer’s needs, wants and expectations if used efficaciously. Moreover, it also helps in identifying areas that need improvement for agents and the business.
Speech analytics software can also be used to monitor and coach agents. It can further be used for assisting in managing customers and their data. In the case of call monitoring, speech analytics software can help identify selling opportunities and track script adherence and regulatory compliance. When inculcated in the training module, this software can help to improve first call resolution and shorten call times. Operational and performance issues can be found and managed effectively through customer as well as agent monitoring.