Speech analytics is fast becoming a household name among top companies globally. So, if your company is yet to implement conversational analytics, you might be a few steps backwards in customer communication.
The concept behind speech analytics is to use words and phrases from customer interaction to generate real-time and eventual insights to enhance the business. With speech analytics tools, your IT practitioners can analyse conversational data and amend evolving or existing issues.
Meanwhile, you should check out Awaken Intelligence for reliable contemporary speech analytic tools that build your business. When speech analytics is well-implemented, expect immediate benefits that include cost savings and a hike in revenue generation. In this article, however, you will learn the features that make conversational analytics important for your business.
What is Speech Analytics Software?
Speech analytics software is a tool that colonises call agent conversations with customers. It further eavesdrops in the conversation positively by analysing pitch and tone to ascertain emotions. Speech analytics may be tailored to distinguish preset keywords and phrases and generate understandable reports within and beyond the dashboard.
When a conversation is recorded, supervisors and call agents can monitor it in real-time and extract desirable that help the call centre. Such insight helps to establish what works and how best to serve customers.
A typical speech analytics tool should feature all you need to make your business smarter. While selecting speech analytics software, look for the following speech analytics features to enable business success:
Dialogue pairs comprise preset responses, typically a ‘yes’ or ‘no’ response, accompanied by mere phrases such as “do you wish to continue?”, “do you mind a callback?” etc. Most of the time, these are question-answer-pairs. So, your customers and call agents’ conversations are monitored and analysed for defined keywords and phrases.
Moreover, you can ascertain response durations between questions that are being answered using the EVC feature. Meanwhile, before you pair customer dialogue, make sure to request consent if it applies in your jurisdiction. The essence, of course, is to ensure compliance.
One of the electrifying features speech analytics should possess measurable trends. A conversational analytics tool should support historical rendering patterns and trends, eventually following the type of call to detect what determines specific call volumes. Moreover, you must have the option to track insights in real-time for instant analysis.
A typical modern speech analytics software can understand what call agents say. The technology is humanised, such that it feels like a human is listening to the call.
Speech analytics assesses every pronunciation and adjusts with the speed rate regardless of the speed. When you gather these reports, use the statistics to personalised or custom training plans for agents to estimate their learning effectiveness.
A speech analytic software should feature a simple company dashboard that recognises instant processes and performance changes. Each user should have access to the dashboard stat to know enterprise-level performance metrics down to call agents.
Another aspect to consider is the support for updated analytic models such as Analysis of Means (ANOM). This model publishes actionable and statistically relevant information.
Instant Call Report
Real-time call monitoring is vital for most organisations that may include yours. A conversational analytics tool provides the basis of analysis, and instant call reports allow users to discover problems with customer calls rapidly. Using this insight, the IT manager focuses on underperforming areas that affect the business.
KPIs (Key performance indicators) are features to look for in contemporary speech analytics software. This feature makes semipermanent objectives measurable for the enhancement of your business.
Some of the KPIs to track using conversational analytics are service response times, First-Call Resolution (FCR), wait times, and customer satisfaction.
After selecting a suitable KPI, set a standard for the present performance levels. You cannot track progressions; you are unaware of where and how they started. Finally, make sure the reports are accessible to various stakeholders in the organisation.
Speech Rate Metre
Modern speech analytics arrives with the functionality that gauges an agent’s speech rate. The gauge is visible on the agent’s screen and aids them in maintaining slow down if they talk too fast. It aids in adhering to the scripts finely.
Speech Metric Dashboard
Speech metric dashboard is another speech analytics feature that enables business success. How? The dashboard monitors the customer interactions while returning caller intent insight.
Can your speech analytics tool transcribe acronyms, seeded words, identify disclosures keywords, phrases and disclosures and support bleary text search? If yes, it is a decent tool for your business.
Activity Map and Summary
Users should be able to visualise multiple customer interactions alongside related performance categories. It is not a must-have feature, but it aids the business considerably.
Speech analytics lets you categorise bad and top-performing conversations. You can also identify the expressions that your call agents use the most and determine whether it fits context or should be abolished.
When a language is not professional or brandable, agents must avoid them while handling customer complaints. Thanks to conversational analytics, it gathers and categorises terminologies and specifies the usage frequency to score it during statistical analysis.
Getting the Best of Speech Analytics by Identifying Objectives
Launching speech analytics in your organisation comes with great joy. However, the greater comes when discover what works and how to personalise speech analytics to enhance the business.
Reportedly, most businesses set up speech analytics software to obtain better insights into call centre performance regarding KPIs. The best practice, however, is to identify your objectives and how speech analytics should function in the business. To establish the objective, answer identify what you expect from speech analytics.
Are you interested in customer feedback? Does your contact centre slack in terms of problem resolution? Is it to enhance regulatory compliance against the accompanying punishment? These questions and many demands answer to enable you to set an attainable goal. Your goal could also be to improve productivity and profit margin or outmatch competitors.
Suppose it is challenging to generate commendable objectives, audit the business. Begin by discovering what calls agents find challenging to handle, what agents think customers need, and how speech analytics can be customised to help their input.