Speech analytics is a technology that automates the process of capturing, transcribing, and analyzing verbal conversation. Speech analytics solutions convert unstructured information in speech interactions into structured data that can be searched and analyzed. Some speech analytics tools also analyze the emotional characteristics of speech to more accurately identify the intention and meaning of a speaker’s words. Speech analytics is typically used in contact centers to better understand customers’ needs, wants, opinions, and preferences and to improve the performance of contact center agents.
Real-time speech analytics captures and analyzes conversations in progress, providing instant analysis that can help contact center agents to better understand customers and resolve their needs faster.
What is voice analytics vs. speech analytics?
Voice and speech analytics are often considered the same technology. However, some consider speech analytics to capture what was said in a conversation and voice analytics to capture how it was said.
What is text analytics vs. speech analytics?
While speech analytics captures and analyzes spoken conversations, text analytics captures and analyzes written communications. Text analytics is used to understand the meaning and intent of conversations in email, SMS text, chat, web content, and social media posts.
What is conversation analytics vs. speech analytics?
Conversation analytics combines speech and text analytics to capture customer conversations across all channels. Omnichannel conversation analytics gives companies a comprehensive view of each customer’s journey and history of interactions.
Conversation intelligence is a broader term for the insights and information derived from conversation analytics.
What are the benefits of speech analytics?
Speech analytics provides more comprehensive insights than traditional technologies by capturing and analyzing every spoken conversation in a contact center. Focus groups and manual reviews of contact center recordings capture only a small fraction of customer conversations. Surveys are often skewed because the customers who tend to respond have very strong negative or positive opinions. In contrast, speech analytics captures unsolicited feedback – which tends to paint a fuller picture – from 100% of customer conversations.
What is speech analytics used for when evaluating contact center performance?
Speech analytics solutions can provide agents with information about customers that helps them handle calls more efficiently, increasing first call resolution rates and reducing average handle time. Speech analytics can also make it easier for customers to get the answers they need quickly, minimizing customer effort scores (CES) and increasing customer satisfaction.
What is speech analytics used for in brand experience marketing?
Businesses can use speech analytics to capture and analyze unsolicited feedback from customers concerning their experience with a brand and its products or services. By better understanding what customers want from a brand and how well the brand serves their needs, companies can take concrete steps to enhance brand awareness and brand experience.
What is speech analytics used for in agent coaching?
Analytics software can automatically score every call to provide agents and supervisors with quantitative data for performance improvement. Real-time speech analytics can help supervisors coach agents during calls and provide in-the-moment suggestions that can yield optimal outcomes.
What is speech analytics used for in compliance efforts?
Speech analytics can help to improve and demonstrate compliance with regulations concerning what can, cannot, and must be said during customer interactions. For example, analytics solutions can ensure that agents are using required language at the beginning of a collections call, or that agents are not sharing sensitive data with customers.
What is speech analytics used for in competitive analysis?
Businesses use speech analytics to mine customer conversations for comments about competitors – things that customers like or don’t like about competing products and services. By revealing where competitors are outperforming or underperforming, speech analytics can help to identify market opportunities and improve existing offerings to gain greater market share.
What is speech analytics used for in sales?
Speech analytics can score the performance and outcomes of every call to provide sales agents and supervisors with real-time feedback about what’s working and what’s not. Analytics solutions can also leverage customer data to prompt agents to suggest the right product at the right time, improving upsell and cross-sell opportunities.
What does CallMiner offer in speech analytics?
CallMiner Eureka offers speech analytics technology as part of a comprehensive conversation intelligence platform. With CallMiner, companies can capture 100% of contact center conversations across all channels – phone, chat, email, social, web, SMS text, and more. Powered by artificial intelligence and machine learning, CallMiner Eureka analyzes omnichannel interactions at scale, interpreting sentiment and identifying patterns that reveal a deeper understanding of every conversation. CallMiner’s conversation analytics help improve frontline agent experiences, enhance quality management, increase contact center efficiency, streamline risk and compliance efforts, increase fraud detection capabilities, and maximize sales effectiveness.