Even though the technology has been in existence for multiple decades, there are still many companies who do not fully understand the entire scope and reach of speech analytics. Once perceived to be simply a way to voice-enable the IVR (“Say ‘one’ to be connected to an agent”), speech is so much more than that, and this technology has literally rewritten the way analytics can help a business, particularly a contact center.
As affordable as speech has become, it won’t be too long until speech analytics is a standard, complimentary feature in most call recording systems. Speech already figures prominently as a vital component in workforce optimization suites such as Virtual Observer.
Companies today should consider speech analytics as an affordable tool which helps to solve a number of contact center challenges, including:
Speech Analytics can automate a good amount of your quality assurance processes, freeing up time to accomplish other tasks, launch new initiatives, or reduce resource requirements. Implementing speech analytics in the enterprise requires a bit of trial and error, playing with confidence levels (a confidence level is the percent probability that a positive match will be found when searching for a particular phrase.
For example, a 20 percent confidence level will yield many more results, potentially consisting of a number of false positives, while an 80 percent confidence level will yield fewer results, with the majority being extremely accurate). Most vendors will provide a good amount of experience and insight when implementing a new speech analytics program. The payoffs are indeed tremendous.
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