Speech analytics is a relatively new concept that has been more thoroughly developed in recent years, making it a fast-growing business information tool that is becoming essential for businesses to truly thrive.
Speech analytics gives businesses a variety of tools to better manage and track their call interactions, and can include automatic transcription of call center conversations, analysis of calls for any positive or negative sentiments, highlighting of ongoing trends, and creating a searchable database of keywords and phrases as picked up in recordings. The technology provides unprecedented access to business information that can be used to improve customer experiences, enhance agent training, and even maximize sales opportunities.
The history of speech analytics dates to around the early 2000s when the United States government began using the technology to track key phrases or words by people and organizations that were under surveillance. According to Smart Customer Service, at first, the technology consisted of an application that converted an audio file to a text file which was scanned for predetermined words of phrases. An operator would be alerted to any identified matches. These early speech analytics programs were known as word spotting or audio mining applications, though the accuracy of these early programs was less than 50 percent.
As speech analytics has evolved, phonetic-based search has driven improvements in the accuracy of these applications. Speech analytics programs now boast accuracy rates as high as 98 percent. Other recent developments in the technology have included the ability to detect emotion, identify different speakers, and even track silence or an agent talking over a caller. The ability to track these interactions, alongside capabilities to analyze trending words or phrases, such as cancellation calls or complaints, and agent and customer scorecards all make speech analytics an incredibly powerful business information tool that can identify areas of success and failure and opportunities to further improve.
At Vaspian, we’re passionate about the capabilities of speech analytics and opportunities it can offer your business. We provide fast, affordable and efficient speech analytics services starting from one low monthly price, with additional extensions and add-ons available to provide even more value for your business. Call us today at 855-VASPIAN to learn how you can get started with speech analytics for your business.