The accuracy of voice analysis solutions varies according to how the technology is used. Voice analysis software performs several functions. The simplest type of voice analysis is voice-to-text software that transcribes spoken language into written text with great accuracy. Voice analysis can be used to understand the meaning, intent, and emotion of a speaker’s words. When applied to a vast number of conversations, voice analysis can reveal insights into the wants, needs, opinions, and behavior of customers.
How accurate is voice analysis in transcribing spoken conversations?
Superior voice analysis technologies achieve rates of 90% or better when transcribing spoken language to text. Solutions that provide speaker-separated audio – where each speaker in a conversation is recorded and analyzed separately – can increase accuracy by as much as 45% over traditional call recording technologies.
How accurate is voice analysis in gaining insight into customers?
Voice analysis offers a far more accurate way to analyze customer conversations in traditional technologies like surveys, focus groups, and manual review of contact center interactions. The accuracy of these legacy methods is hindered by a sample size that is a tiny fraction of the customer base. In contrast, voice analysis makes it possible to analyze 100% of conversations in a contact center, providing a far more complete picture of the customer mindset. Additionally, respondents in surveys are often motivated by highly negative or positive experiences, which can skew the survey results. Voice analysis offers more accurate insights by analyzing the unsolicited feedback from all customers.
How accurate is voice analysis when improving contact center performance?
Businesses have often measured contact center performance by manually reviewing the audio recordings from selected calls. This approach is highly limited in scope and typically returns results weeks or months after the fact. Voice analysis solutions can automatically analyze every interaction between contact center agents and customers and deliver insight in near-real time. As a result, businesses gain a far more accurate picture of the performance of contact centers and individual agents, enabling swift action to improve metrics related to first call resolution (FCR), average handle time (AHT), and customer satisfaction scores (CSAT).
Does brand experience affect loyalty?
Positive brand experiences lead to higher brand loyalty, increased sales, better customer retention, and higher lifetime value. Because the cost of attracting new customers can be up to seven times more expensive than retaining current customers, improving loyalty by delivering better brand experiences can significantly impact the bottom line.
How does voice analysis work?
Voice analysis uses multiple technologies to capture, transcribe, analyze, and mine speech for insight. Voice recording technologies capture conversations between two parties, and speech recognition technology converts spoken language into written text. Acoustic technologies use metrics such as tempo, agitation, and silence to determine the emotion in a speaker’s words. After converting all this information into machine-readable data, voice analysis solutions use AI-powered technology to understand the meaning of conversations, searching for certain language patterns or characteristics to determine the speaker’s intent. Voice analytics can also score conversations on multiple criteria to provide metrics concerning agent quality, customer satisfaction, intensity of emotion, and other KPIs.
What is voice analysis used for?
Businesses and contact centers use voice analysis technology to accomplish multiple objectives. Voice analytics delivers deeper insight into customer mindset and behavior, enabling companies to make better business decisions. Contact center supervisors use voice analytics to monitor and coach agent performance. Real-time voice analysis provides agents with next-best-action guidance to resolve customer issues more efficiently and can alert agents and supervisors when a call seems to be heading in a negative direction. Sales teams rely on voice analytics to identify the most successful ways to pitch different audience segments and to increase opportunities for cross-selling and upselling. Contact centers can also use voice analysis to monitor conversations with customers for compliance with a wide range of regulatory requirements and internal standards.
What is voice analysis vs. text analytics?
Voice analysis is concerned solely with analyzing spoken conversations. Text analytics employs similar technology to extract insight from written communication in email, SMS text, chat, social media, websites, and other channels.
What is speech analytics vs. voice analysis?
While many people consider speech analytics and voice analysis to be the same technology, some consider speech analytics to be concerned with determining what is said in a conversation and voice analytics to be concerned with how it is said.
Conversation analytics combines text and voice analysis, providing a single solution for analyzing all customer conversations.
Omnichannel conversation analytics uses text and voice analysis to track customer experiences, sentiment, and behavior across every channel. With the ability to understand what customers want and need from every touchpoint, businesses can more easily take action to improve every step of the customer journey.
Conversation intelligence software leverages conversation analytics to analyze 100% of customer conversations and extract insight that can drive business improvement.
What is voice analysis with CallMiner?
CallMiner is the global leader in conversation intelligence technology. Powered by artificial intelligence and machine learning, CallMiner Eureka is the industry’s most comprehensive platform for analyzing omnichannel customer interactions at scale. AI and ML-powered analytics correlate to text-based and voice conversations, even when channels are not integrated. With CallMiner, businesses can connect the dots between human understanding and the tangible action required to turn it into business improvement.