Speech Analytics Aids Customer Relationships
Speech analytics is a technology that contact centers are increasingly relying on for a combination of agent training, enhancing customer relationships, and improving product quality, as speech experts discussed at the recent Verint Engage19 conference.
“Conversational speech analytics, which relies on artificial intelligence and machine learning to continue to improve, can help companies improve NPS and other customer relationship metrics, increase revenue, identify loyalty and operational issues, help ensure security and compliance adherence and provide other benefits,” said Pichappan Pethachi, Concentrix vice president, innovation and automation IT services. Concentrix is a Verint partner, and uses quality assurance automation enabled with Verint Speech Analytics.
In its customer engagement services, Concentrix analyzes all interaction data, including telephone calls, social posts, emails, chats, and other data sources in order to help understand what drives business value.
“End-to-end analysis identifies product dissatisfiers,” Pethachi explained. This is important in a customer engagement services environment because customer dissatisfaction with products can drive high contact volumes and handle times, both costly for the contact center, as well as high product service support and returns, which can be very costly for consumer goods companies.
Speech analytics enables a customer engagement services center to monitor interactions in real time, uncovering key words and phrases that help guide interactions to better outcomes as well as to provide agents with on-screen, personalized guidance, notification to managers—and to analysts-- via the use of conversation tags, according to Pethachi. Real-time triggers include agent assistance with “next best action” guidance, supervisor dashboard details, monitoring and alerts.
By using speech analytics, combined with the analysis of product return data for one such company, Concentrix was able to identify what was causing the customer dissatisfaction, which led to a redesign and packaging changes for the product—lowering defect and returns, for a total of 6% customer service cost reduction, according to Pethachi.
With speech analytics, companies can take deeper dives into why received goods are damaged, while also prompting agents to ask follow-up questions. Automated analysis of the responses can help uncover why the goods were damaged, according to Pethachi.
Breakdowns of defective returns is also possible. Again agent probing can lead to a ‘gold mine’ of product information which can be quantified by brand, geo-location, etc.
Among the benefits cited by a Concentrix electronic retailer include reduced returns, uncovering call driver metrics and enhancing the company’s IVR menu.
Speech analytics is a key component of Verint’s key product offerings announced at the conference, which are undergoing continuous improvement.
Verint’s comprehensive suite of products provide a complete view of direct, indirect, and inferred customer insights from across customer engagement channels with an automated analytics engine to deliver actionable insights so that organizations can prioritize and implement the CX initiatives with the best financial returns.
Key product features include:
- Cross-channel structured and unstructured customer data collection including email, SMS and post-call IVR surveys, digital feedback from websites and mobile devices, as well as customer interactions from contact centers.
- Unified customer data analysis allowing organizations to map data from multiple sources, create common KPI’s to provide identification, sizing, and prioritization of CX issues from across all channels.
- Triggers, alerts and case management that work out-of-the-box on the unified data sets to solve operational issues, for example, leveraging digital feedback to alert the contact center of emerging issues and initiate actions to resolve those issues.
Verint announced a new offering, Verint AI Blueprint, which is designed to help companies launch conversational artificial intelligence solutions through a combination of consulting and technology.
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