Voice Analytics is a process of recording audio conversations, voice mails, live calls, and other data on call flows. This is used by customer service centers to analyze customer interactions with an organization. It is commonly used for improving customer service as well as the ability to provide customer satisfaction.
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What Is Voice Analytics? Definition, Tips, Best Practices
The process of Voice Analytics is similar to the process of traditional Call Detail Records. The first step is creating a list of questions or concerns that may arise during any given call. Once the list is in place, the recording is done, recording all possible conversations. After recording, data can be stored for future reference.
The goal of voice analytics is to provide customers with a better understanding of what their calls are about and what they need help with. It allows an organization to identify areas where improvement needs to take place. Voice Analytics also provides customers with a clearer picture of how the call occurred. This helps the customer understand more clearly what occurred.
Data from a voice recorder can also be used in training. The information gained during this process helps trainees better understand and react to a call.
Speech Analytics Software for Contact Centers
Information from recordings can also be used for sales purposes. This allows for better understanding of customer’s needs and also better ways of communicating with them.
Customer service is also enhanced by using voice recordings. For instance, if a customer is calling for assistance, the voice recorder can give them a better understanding of the problem or question. It gives them a sense of control over the situation.
The voice recording can also be used to give sales representatives a better idea of what the caller wants or needs. With better understanding, sales representatives are better able to direct the caller to the product or service that best suits their needs.
Voice Analytics is a valuable tool in many industries. It has been used to improve business processes and improve customer service. Its applications range from corporate training to retail training, call center training, and sales training.
Voice Analytics vs. Speech Analytics
Voice analytics can be used to streamline communication between departments, staff, and customers. For instance, it can help companies improve customer service by using voice recording technology to better understand customer behavior and provide more useful answers to customers’ questions.
The software is also helpful in improving communication between the company’s customers and staff. Customers can be notified of new products and services as well as the status of existing ones.
Analytics can also be used to improve customer service. This can be done through a variety of methods. For example, customer voice recording can be used to remind customers to confirm their orders, it can alert employees when certain items are out of stock, and it can send out emails to alert customers of special deals or special discounts.
Best Speech Analytics Software in 2020
Voice Analytics can also be used to collect data on customer satisfaction. This data can then be used to improve and increase customer service or it can be used to identify customer complaints.
In most cases, this software does not need any upfront investment. A simple recording can be made and used on the fly and it does not require any purchase.
Voice Analytics can be used for many purposes; however, there are some limitations that should be taken into consideration before purchasing. Some vendors do not provide support after purchase. Additionally, some voice recorder programs only record data for one customer and only provide data for that customer. If the recording is to be used for a business or organization, it will be helpful if the recording is used with a large number of calls.
Here’s a look at the best voice analytics tools available in 2022.
1. LiveVox SpeechIQ
LiveVox’s SpeechIQ aims to make the quality assurance process easier and more effective. The system can analyze not just calls but 100% of texts, emails and chat interactions, providing a more cohesive picture of customer interactions. It also features advanced search capabilities to find specific conversations faster.
SpeechIQ’s sentiment analytics feature lets users better understand customer intents and trends. It then can suggest coaching opportunities and best practices to maximize a business’s customer support. Automated alerts and omnichannel analysis make it an even more comprehensive and easy-to-use system.
2. CallMiner Eureka
CallMiner is another one of today’s leading voice analytics companies. Their flagship product, Eureka, is a machine learning-powered analytics tool that focuses on omnichannel support. The platform analyzes patterns across text and audio conversations to offer personalized training programs.
Interactive visualizations make it easier to understand what customer service teams are doing well and where they could improve. Eureka also places a strong emphasis on security, automatically redacting personal information to keep customers’ data private. As cybercrime continues to grow, that’s becoming an increasingly relevant concern.
Another security-conscious voice analytics tool, Observe.ai complies with the GDPR, CCPA and ISO 27001. Similar to Eureka, it also automatically redacts sensitive information from both audio and transcription records. These automated tools go beyond recognizing personally identifiable information, too.
Observe.ai can identify people, locations and organization names within calls, offering more personalized insights. Perhaps more interestingly, it also analyzes silence in calls. The platform can differentiate between dead air, conversational pauses and hold time to help offer more accurate recommendations.
While Observe.ai offers many cutting-edge features, it focuses on voice calls. Alternatives like SpeechIQ may offer a more comprehensive view of customer interactions, as they include text-based conversations, too.
Tethr focuses on the scoring side of voice analytics. Using nearly a decade of research into customer conversations, the platform offers three different types of call scoring. The Tethr Effort Index tracks customer effort, Agent Impact scores look at how helpful agents are and custom scoring lets businesses define and track their own metrics.
This variety of reporting methods gives businesses fairly deep insight into their customer experiences. Omnichannel support and pre-built dashboards make it easy to access and understand these insights, too. On top of customer support, the platform also provides insight into improving things like marketing and sales.
Despite being a relatively new voice analytics company, Daisee has already demonstrated some impressive figures. The service claims to have more than 90% transcription accuracy and boost customer satisfaction by 22%. To achieve this, the platform uses advanced voice recognition AI paired with an easy-to-use user interface.
Essence, Daisee’s AI tool, actively analyses phrases to establish customer intent, signals and trends across each call. The platform then delivers a programmable scorecard that companies can tailor to fit their specific needs. Multiple ways of viewing these scores provide actionable insights for the whole team. Daisee is also comparatively affordable, making it more accessible to smaller businesses.