Voice analytics software captures and analyzes spoken conversations. While voice analytics technology can transcribe speech to text, it also seeks to understand the meaning, intention, and emotion in a speaker’s words. Businesses use voice analytics software to extract insight and intelligence from millions of hours of conversations with customers, employees, patients, and other audiences.
How does voice analytics software work?
Voice analytics software combines several technologies to record, transcribe, and analyze spoken conversations. Voice recording technology captures spoken conversations, and voice recognition solutions convert speech to text. Acoustic analytics use AI-powered processes to determine the emotion in a conversation by measuring characteristics like tempo, agitation, and silence. Machine learning technology derives the meaning of speech from words, phrases, and emotions, transforming this information into structured data that can be searched and analyzed. Analytics software enables users to analyze, search, discover, compare, visualize, and report on data from conversations to produce insights and intelligence that can drive business improvement.
How accurate is voice analysis?
The best voice analytics software on the market has speech recognition accuracy rates of over 90%. Companies can improve the accuracy of voice analytics software by analyzing speaker-separated audio, where each person in a conversation is recorded and analyzed separately. When it comes to the accuracy of understanding the wants, needs, opinions, and behavior of customers, voice analytics software offers much deeper insight than traditional technologies that sample only a small fraction of customers.
What is voice analytics software used for?
Voice analytics software is most often deployed in contact centers to glean insight from calls with customers. While these interactions can be a gold mine of information and unsolicited feedback, businesses have traditionally found it difficult to extract intelligence from customer conversations at scale. By automatically capturing and analyzing every spoken interaction with customers, voice analytics software provides insight into a broad range of business areas and performance metrics.
Businesses can use voice analytics software to:
- Gain insight into the mindset of customers.
- Monitor and improve the performance of contact center agents.
- Improve brand marketing by better understanding what customers feel about and want from a brand.
- Measure the effectiveness of marketing campaigns.
- Improve competitive advantage by understanding how customers compare a company with its competitors.
- Increase the effectiveness of sales teams by monitoring conversations to determine what approaches work best with each audience segment.
- Enhance the outcome of customer calls by providing agents with real-time suggestions for next-best actions.
What is speech analytics vs. voice analytics?
Speech analytics and voice analytics are often considered to be the same technology. However, some businesses classify speech analytics as technology to understand what is said in conversation and voice analytics to identify how it is said.
What is text analytics vs voice analytics?
Text analytics software deploys similar technologies to voice analytics to analyze the meaning, intent, and emotion in written language. Text analytics software may be used to analyze text from documents, email, chat, SMS text, social media, web, and other channels.
