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Speech analytics is still an emerging technology for the call center, but experts predict significant growth for the speech analytics market in the years to come.
We've gathered the top headlines on speech analytics to help you decide if the technology makes sense for your organization.
1. Who should buy speech analytics technology?: Speech analytics technology is creating a dilemma in organizations as they struggle to determine who should "own" the technology: Should it be marketing, call center management, business intelligence (BI), or someone else? According to one analyst, it depends.
2. The ROI of speech analytics for the call center: According to Donna Fluss, President of DMG Consulting, early adopters have found that speech analytics has a rapid three- to 12-month payback, due to the fact that it can help call centers achieve all four of their primary goals: reducing operating expenses, providing outstanding customer experiences, increasing revenue and reducing customer attrition.
3. Top 10 call center technology must-haves: Even though it's not an essential call center technology, Donna Fluss urges call center mangers to consider adopting speech analytics technology to enhance customer service and improve customer satisfaction within their organization.
4. Speech, voice apps integrating into the contact center: Speech analytics technology is being integrated into full call center suites and advanced features are being added, with RightNow adding new voice functionality and Autonomy bringing search to its speech analytics.
5. Speech analytics: Invest now or wait?: According to Donna Fluss, the benefits of investing in speech analytics, some of which include improved service quality, increased revenue and enhanced customer experiences, outweigh the costs. Fluss also estimates that the ROI of speech analytics can be realized in as little as nine months after implementation.
6. Analyze this – Anger management software: One organization's speech recognition software is bringing customer service to a whole new level, monitoring customer calls in real time for hostile tones and words like confused and cancel. Flagged calls are sent to a call center supervisor who listens in and follows up with the caller.
7. Speech analytics improving service, sales: Emotion detection and other speech analytics technology is helping companies not only improve their customer service, but sales as well. Calls analyzed using speech analytics technology can provide data on how a customer responds to an up-sell opportunity and how many times they mention a competitor's product.
8. The CRM market in 2007: Top experts share their views, part 1: According to Donna Fluss, 2007 was the year of analytics. However, she pointed out that analytics vendors haven't done an effective job of communicating the value of these applications to end users.
9. Seven things you need to know about speech analytics: There's some hype around speech analytics, but what do you really need to know to make the decision about whether or not it's right for your organization? Donna Fluss offers an introduction to speech analytics and gives thoughtful advice in this podcast.
10. Speech analytics coverts call center to profit centers: When used properly, speech analytics can pay for itself in three to nine months, says Donna Fluss. Speech analytics applications structure customer interactions and identify customer insights, allowing organizations to enhance customer loyalty and improve the bottom line by offering customers what they want, when (and how) they want it.
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