Speech analytics analyses recorded calls to gather customer information and monitor and analyse your interactions to give you an overall view of each agent’s performance, which can then be measured against targets.
It uses AI to analyse and extract information and insights from conversations between agents and customers.
Throughout this blog, we will explore the top 8 benefits of using speech analytics in call centres, why it is important and much more!
Why is Speech Analytics Important?
Speech analytics is important for many reasons, such as improving agent performance, saving money and enhancing customer insights.
Many call centres use speech analytics to listen to and transcribe all calls while flagging key phrases and areas of importance.
Using speech analytics also allows you to monitor, analyse and assess interactions to increase productivity, compliance and quality assurance.
Speech analytics can help your business understand your customer base and find out where you need to improve.
What Are the Benefits of Speech Analytics?
Now that you have a better understanding of what speech analytics is and why it is important, let’s explore the top 5 benefits of speech analytics in call centres:
1: Improved Agent Performance
Speech analytics is used in many call centres and it provides agents with valuable insights and data to optimise agent performance, which can help them to:
- Pinpoint areas where agents may need additional training or support
- Monitor compliance with scripts
- Provide real-time feedback during calls
This tool is ideal as it can lead to increased agent performance, improved interactions between customers and agents and increased overall performance.
2: Improved Customer Experience
Speech analytics allows you to better understand customer interactions, which can lead to improved customer satisfaction. Speech analytics also allows you to:
- Identify common customer problems
- Recognise what is going well
- Enable personalised interactions based on customer call history
Overall, speech analytics allows you to understand your customer's needs and opinions. This tool can improve customer service by recognising what is going well and what you could improve on.
3: Enhanced Operational Efficiency
Using speech analytics in your call centre allows you to resolve calls faster and reduce agent idle time by addressing and identifying common issues.
This tool also optimises call routing based on agent skills and customer needs to ensure that all calls are routed to the most appropriate agents. To sum up, speech analytics enhances operational efficiency by:
- Automating manual tasks
- Reducing average handling times (AHT)
- Identifying and removing unnecessary manual tasks
- Minimising errors
4: Real-Time Problem Resolution
Real-time problem resolution allows call centres to recognise and address issues as they happen during customer interactions.
This allowed supervisors to intervene when required to prevent any issues from escalating, therefore improving first-call resolution rates.
This can also improve customer satisfaction as it ensures that customer concerns are resolved quickly and efficiently.
5: Improved First Call Resolution (FCR)
Speech analytics can identify best practices when it comes to resolving problems on the first call.
This tool can also provide agents with real-time suggestions and feedback during calls, which can help resolve issues without the need for a follow-up call.
6: Personalised Customer Experience
Speech analytics analyse customer interactions over time, which can help to create personalised customer profiles. These profiles usually include past issues, customer preferences and opinions and potential needs.
The more information agents know about a customer, the more they can personalise the call to suit their needs. This improves customer satisfaction as it allows them to feel heard and listened to.
The last thing a customer wants is to repeat themselves, which is where speech analytics comes into play.
7: Improved Quality Assurance
Speech analytics analyses 100% of calls, which provides an overall picture of the quality of calls and agent performance. This means that no call is missed so you have an accurate understanding of all calls.
8: Continuous Improvement
Speech analytics helps call centres by continually improving their operations and conversations with customers. Analysing every interaction can identify trends, pain points, and best practices.
It is important that you regularly assess these analytics so that you can stay up to date with trends and identify what your business could improve on.
Here at MaxContact, we offer a Spokn AI feature that enhances your contact centre's efficiency by automating call listening and providing sophisticated speech analytics, allowing your team to gain insights into customer interactions and improve your decision-making processes.
The latest release of SpokenAI has a success intelligence feature that reviews trends mainly regarding competitors. This is ideal, as it allows you to stay ahead of your competition.
How Does Speech Analytics Work?
Simply put speech analytics works by collecting and analysing data before providing insights on the quality of calls and agent performance. Here is a step-by-step guide on how speech analytics work:
- Audio capture: Firstly, the speech analytics tool works by recording or collecting audio from customer calls.
- Speech-to-text conversion: Next, the audio will be converted into text by using automatic speech recognition (ASR).
- Natural language processing (NLP): Natural language processing algorithms will then go on to analyse the text in order to understand the meaning and identify key phrases.
- Pattern recognition: Speech analytics identifies trends, patterns and anything abnormal during the conversations.
- Categorisation stage: All conversations will then be categorised based on issues, topics or best practices.
- Insight generation: The analysed data is then used to come up with insights regarding compliance and agent performance.
- Reporting: Finally, all results will be reported and presented through dashboards to provide agents with an overview of their conversations.
Speech Analytics at MaxContact
Here at MaxContact, we offer a wide range of services, including speech analytics. Our speech analytics tool allows you to understand your customer's needs better as well as provide them with useful and helpful support.
This tool allows you to stay up-to-date and on track with changing customer needs. It also helps to personalise customer interactions based on real-time analysis to improve customer satisfaction and loyalty.
Our speech analytics software automates the process of monitoring calls to reduce the need for manual reviews.
It can also increase your sales and revenue to help agents take on a range of opportunities during customer interactions.
For more information on our speech analytics software or to speak to a member of our team, don’t hesitate to contact us today. We look forward to hearing from you.
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