Speech analytics is a technology that automatically extracts data from spoken conversations. By converting unstructured information – such as a speaker’s words and emotions – into structured data that can be searched and analyzed, speech analytics can reveal insights, trends, and intelligence about the meaning of conversations with individuals and groups.
What is real-time speech analytics?
Real-time speech analytics analyzes and reports on conversations as they happen. Businesses may use real-time speech analytics to help agents or chatbots better understand customer needs and questions and to improve how support teams resolve customer issues.
How does speech analytics work?
Speech analytics involves several technologies. Recording technologies capture language from speech and conversation. Speech recognition technology transforms spoken language into text and data. Technology that captures acoustic signals such as tempo, agitation, and silence delivers insight into the emotion driving a speaker’s words. Analytics tools search for language patterns, tag and categorize conversations, and track key metrics to automatically score conversations in a variety of ways.
What is speech analytics used for?
Speech analytics is most often deployed in contact centers where it is used to capture, transcribe, and analyze the conversations between customers and contact center agents. Speech analytics solutions are used across a broad array of industries and enable organizations to achieve a variety of objectives.
With speech analytics technology, organizations can:
- Improve the customer experience by gaining insight into customers' needs, behavior, preferences, and opinions.
- Conduct competitive analysis by monitoring mentions of competitors in customer conversations.
- Improve compliance with regulatory frameworks by monitoring conversations between agents and customers.
- Enhance self-service offerings by analyzing customer feedback to identify shortcomings of chat services, knowledge bases, and FAQ pages.
- Improve call center metrics by coaching agents to handle calls more effectively, offering next-best-action guidance in real time, and tracking customer satisfaction to provide a more compelling customer experience.
- Increase revenue by identifying cross-selling and upselling opportunities in conversations with customers.
- Gain invaluable product intelligence by mining conversations for customer feedback about their experiences.
What are the benefits of speech analytics?
Speech analytics provides intelligence that is more comprehensive, detailed, and accurate than the traditional solutions for measuring and analyzing customer intentions and sentiment. In contrast to surveys or manual reviews of call recordings that capture only a fraction of interactions, speech analytics technology allows companies to capture data from every conversation with customers. While the feedback from focus groups and surveys is often skewed by customers with very strong opinions, speech analytics captures the broad spectrum of customer responses for more accurate analysis. Speech analytics automates the collection and analysis process, dramatically reducing the effort required to gain insight.
What is speech analytics vs voice analytics?
Speech analytics and voice analytics are defined differently by various businesses and technology providers. Some use the terms interchangeably. Others consider speech analytics to be technology that converts speech to text and voice analytics to be the solutions that reveal a speaker’s emotions and sentiment.
What is speech analytics vs text analytics?
While speech analytics analyzes spoken conversation, text analytics analyzes written conversations in email, chat, SMS text, social media, and more. Text analytics analyzes both the meaning and emotion of words to produce insight into a customer’s needs, intentions, behavior, and opinions.
How accurate is voice analysis?
While no speech analytics solution will ever be 100% accurate, the best technologies on the market can reach accuracy rates of 90% or better. Speaker-separated audio is far more accurate than traditional call recording technologies. When compared to other forms of capturing customer feedback like focus groups or surveys, speech analytics offers far more accurate and comprehensive results.
What is conversation analytics vs. speech analytics?
Conversation analytics combines speech and text analytics technologies to provide a solution that can capture customer conversations across multiple channels. Omnichannel conversation analytics supports efforts to understand and improve customer experiences across every touchpoint in the customer journey.
What is speech analytics with CallMiner Eureka?
CallMiner Eureka is a conversation intelligence platform that leverages text and speech analytics to analyze 100% of customer conversations across channels – phone, email, chat, web, SMS, social media, and more. CallMiner leverages powerful analytics to transcribe, categorize, and score every customer interaction. Analytics enables real-time performance coaching in contact centers, monitoring and optimizing agent performance at scale. CallMiner also provides in-call feedback and next-best-action guidance to improve the outcomes of conversations. Visualization tools enable users to visually explore conversation analytics data, with tools to see the big picture or drill down into details. Automatic redaction technology identifies and removes sensitive data and personally identifiable information from audio and text-based conversations. CallMiner also offers tools for transcribing high-fidelity, speaker-separated audio to improve the accuracy of speech analytics.