The use of speech analytics and tools that include artificial intelligence are enabling contact centers to reach customers like never before. Contact center solutions that employ speech analytics are giving agents unprecedented ways to address customer needs and improve their businesses. Below, we dive into how speech analytics sends contact centers ahead of their competitors in 2020 and beyond.

What is Speech Analytics?

Speech analytics is a tool included in advanced contact center solutions that automates the interactions agents have with customers to provide more in-depth insight. Speech analytics tools listen to customer interactions, and they derive information about the customer’s experience to help the contact center improve. The technology employs speech recognition, which identifies spoken words and phrases, as well as more intelligent tools to intuitively process parts of the conversation. These elements of customer interactions can include periods of silence, the emotion behind specific speech, and the tone of the customer. Armed with insight about customer emotion, contact centers can revolutionize how they interact with their most valued audience.

Benefit 1: Creating Better Customer Experiences

At the top of the list of benefits for contact centers lies the one for their customers. Speech analytics helps draw and process information about how customers are speaking, which gives contact centers ways to quickly identify a customer’s needs. This technology can detect stress in a person’s voice, satisfaction, tone, emotion, and more. If the customer is getting frustrated or upset, speech analytics for contact centers will detect that as well and enable the agent to know there are different steps to take with the particular caller.

Benefit 2: Increasing Productivity

With speech analytics, contact centers can automatically mark recorded interactions to find the specific ones they need with ease and speed. With script adherence, language tracking, and marking calls with priority tags, contact centers can use automation to speed through processes that were time-consuming before. Saving time equals saving money – and better productivity all around.

Benefit 3: Retaining Customers and Improving Loyalty

Speech analytics gives contact centers the ability to look at customer interactions in real-time, which means agents can get the help they need from managers to talk to that customer in the moment. This level of granular insight can provide actionable intelligence for contact centers. In turn, the customers feel the benefit of an intuitive, insightful service process that will keep them coming back.

Benefit 4: Improving Operations

When more information is available in real-time about customer interactions, things like average handle time, call deflection, and transfers are all reduced. Speech analytics enables this near-instant understanding of the customer experience to eliminate inefficiencies in operations.

Benefit 5: Ensuring Better Compliance

Speech analytics enables contact centers to analyze calls for adherence to compliance criteria. If issues arise, the right parties will be flagged for compliance concerns or risks, shortening the time it takes to find out what happened. Additionally, a contact center’s compliance team will be able to focus more closely on high or low-risk call records as speech analytics delivers that analysis quickly.

If you’re interested in what speech analytics can do for your business, reach out to Virtual Observer today. We understand the complexities of the industry, and we’re here to bring your contact center into the future. Contact us anytime.