Speech analytics
There's so much valuable insight buried in each customer interaction, but the question is how to extract that information. That's where speech analytics comes in. Book a product tour to see how it works!
For most companies, getting useful business intelligence and insights that help them understand their customers better doesn’t require fancy surveys or outsourcing work to expensive research agencies.
They already have all the insights they need—in their customer calls. And their contact center teams probably already have easy access to this information.
Traditionally, it would be through listening to call recordings one by one and taking notes, which, as you can imagine, is pretty time-consuming and labor-intensive.
Good news is, call centers and contact centers don’t have to do that anymore because of automation. Specifically, speech analytics.
But what exactly is speech analytics? How does it work? And how can it help contact centers improve operational efficiency?
What is “speech analytics?”
As its name suggests, speech analytics are the data and insights you get from digging into conversations that your business has—usually on the phone, and usually with customers and prospects.
You can get speech analytics for both live calls and recorded ones, and if your software has a really good speech-to-text feature, it could even transcribe calls in real-time.
For example, Dialpad’s Vi (Voice Intelligence) technology does exactly this—but can also analyze speech and pick up on keywords and phrases chosen by the user.
This functionality gives contact centers many more possibilities in terms of what they can do with all these conversations they’re having with customers every day.
It also integrates with CRMs like Salesforce and HubSpot, and other tools like Zendesk to provide these real-time transcriptions and automatically log customer interactions, right inside those tools:
How do speech analytics work?
Think of all the data your business accumulates each day through phone calls and emails. That data is basically unstructured and not always useful in its current form.
For example, having just the transcript or recording of a customer call is not very useful. You also need the metadata associated with that speech, like who said it, when it was said, and so on. That’s what you’d need speech analytics software for.
Typically, it would put the audio through an automatic speech recognition process to transcribe the conversation from speech to text. From there, it can analyze what was said to tell you, for instance, whether the sentiment on that call was negative or positive.
Dialpad Contact Center can do this—in real time, as the call is happening.
👉 Dialpad tip:
A good speech analytics solution should at the very least be able to transcribe conversations accurately. Otherwise, it can’t provide you with the actionable insights you need to make informed decisions and improve agent performance.
What contact centers can do with Dialpad's speech analytics
Spot problem areas more easily
Are certain competitors coming up in conversations more? Maybe you’re interested in reasons why customers call to ask for refunds. You can program these words and phrases into Dialpad to track how often they come up in conversations—and provide a better customer experience.
Reduce churn
Retaining customers is important for every business. What if you could anticipate issues better and solve issues before customers leave you? A speech analytics tool like Dialpad can help you pick out these issues more quickly. Create Custom Moments to track how often “money back” or “cancel” or “refund” comes up on customer conversations:
Coach agents at scale
What if an agent needs assistance during a phone call? With Dialpad, call center managers and supervisors can see a live sentiment analysis for each call, read real-time transcripts of phone calls their agents are on, and message them on the side with advice.
Provide a great customer experience while reducing costs
Use customer insights from your calls to improve your quality assurance and quality monitoring efforts, reduce the number of repeat calls—and ultimately, improve customer satisfaction—at a lower cost.
Easily identify and address compliance issues
Compliance is a top priority for contact centers and call centers in quite a few industries. As well as adhering to legislation like the Payment Card Industry Data Security Standard (PCI-DSS) and Healthcare Insurance Portability and Accountability Act (HIPAA), you also need to adhere to the requirement in many states that customers must give consent for a call to be recorded. Along with Dialpad's speech analytics, you can also build custom APIs to automatically identify compliance issues in customer engagements.
Start harnessing AI-driven speech analytics with Dialpad
You may already have a team of great agents working in your contact center or call center, but with a good speech analytics tool, you can turn those great agents into super agents.
By analyzing the conversations between customers and agents, either in real-time or later as call recordings or transcriptions, you can adjust your tactics to improve your contact center performance.
Interested in speech analytics?
From helping you improve your FAQ self-service knowledge base to finding new ways to provide the best customer experience possible, the uses are endless. Get a product tour of Dialpad to see how it can work for your agents!
FAQs about speech analytics
Which types of businesses can benefit from speech analytics?
While contact centers and call centers are the main beneficiary of speech analytics, any industry that has regular phone communication with customers can also benefit. (And you can combine it with other conversations on, say, email and live chat too for an omnichannel analysis.) That includes banks and financial organizations, utility companies, the travel and hospitality sector, healthcare organizations, and more. (Yes, even businesses with more strict compliance needs!)