What is Speech Analytics?
With speech analytics, companies can gain insights into contact center performance and how customers feel about their business.
Speech analytics is an AI-based tool that analyzes real-time or recorded calls and extracts data from the call audio for automated analysis and action, such as the use of certain keywords, script adherence, speech rate, or average handle time.
When it comes to voice calls, businesses use speech analytics to identify when customers feel stressed or dissatisfied in real time or over a period. This helps to improve agent performance and drive higher customer satisfaction. In this way, businesses can reduce customer service monitoring costs.
Compared to voice recognition, speech analytics software provides businesses with more data. In addition to speech transcription, business managers and owners receive emotional analysis and performance insights.
How it Works?
The process includes several steps – from catching unstructured audio data to reports that can be analyzed.
- Data gathering. Speech analytics gathers conversations and associated metadata – the agent who handled a call, call date and time, and customer data
- Audio processing. The system converts speech into text and extracts acoustic signals such as agitation and silence time. The text transcripts with signals are converted into a consistent form
- Report preparation. The system analyzes conversations for patterns and prepares a report. Gathered data helps businesses to increase contact center productivity and save costs on customer service analysis
Ways to Use Speech Analytics
Speech analytics tools can be used in real time or over a certain period. Here’re how companies use speech analytics.
- Сonversion rates growth. Sales agents can choose conversational strategies and provide highly-targeted communications based on a caller’s emotional profile
- Quality assurance. Your QA agent will no longer need to listen to hundreds of calls since the AI automatically find areas to improve
- Script optimization. Speech analytics can help pinpoint exact script points that make customers feel upset. Optimize scripts and make agents more effective
- Compliance management. If you’re required by law to notify customers that the call is being recorded, manage speech analytics to remind agents about notifications in real time
- Customer experience improving. There is no longer a need to conduct heavy post-call surveys. Measure customer satisfaction with actionable insights from voice data