Speech Analytics For Enhancing the Customer Experience

Managing and maximizing customer relationships for longevity and profitability have been
major enterprise objectives for the past several years. Companies collect and analyze mountains of data on customer preferences and behavior with the goal of fine-tuning products, services and marketing campaigns to specific customer needs, and better understanding the drivers for customer loyalty.

The contact center is an important source of customer information as well as revenue generation, and a significant contributor to the quest for greater customer intelligence. Advances in technology that help unearth intelligence buried within recorded interactions have paved the way for a change in the way that an enterprise views the core objective of its contact center. In addition to a means of providing excellent customer service, the contact center is the place where customers express their feelings to the company.  The contact center can now be a significant source of current and predictive customer intelligence.

Speech analytics products let us enhance and improve upon the customer experience, thereby influencing customer retention rates. Speech analytics products can offer enterprises the ability to conduct an effective correlative analysis, thereby addressing the core of any customer service issues, and ensuring faster problem resolution. Companies with streamlined customer-facing business processes are able to offer a differentiated customer service, a source of competitive advantage in the current competitive marketplace.

Frost and Sullivan projects growth rates in excess of 100% over the next several years for speech analytics solutions, based on the multiple benefits that these solutions help enterprises realize. The Frost & Sullivan white paper, Mining the Contact Center for Customer Intelligence,  looks at the significance of speech analytics products as solutions to gather greater customer intelligence, drive enhanced customer experiences and streamline customer-facing business processes to deliver more cost-effective service differentiation.  The paper also highlights some of the benefits that successful speech analytics

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