As speech analytics market continues to evolve, new versions of the technology arise with the aim to meet unanswered needs of organizations. Real time speech analytics which can be defined as a next generation version of speech analytics, is on the rise and has been used by increasing number of organizations each day. According to latest research from MarketsandMarkets, real-time speech analytics solutions are gaining market traction due to the increasing need of companies for better and cost-effective solutions.
Since organizations have more options now, deciding on the right analytics solution requires a serious consideration. During this evaluation many organizations face with a primary question: real time vs. post-call speech analytics? Although each technology has its own advantages and both of them make various contributions, they differentiate in answering specific needs of organizations.
A great majority of speech analytics solutions are based on post-call analysis which works by analyzing data from historical call recordings that are transcribed into text using phonetic indexing or large vocabulary continuous speech recognition.
On the other hand, real-time speech analytics which is gaining popularity, analyzes calls as soon as they occur with a slight delay of a few seconds. This analysis is based on bridging into the live conversation and identifying words and phrases that point out a specific topic.
While real-time speech analytics is a good option for conversations where events occur in shorter intervals; for events that evolve over long periods of time, post-call speech analytics can be a better option.
Organizations which operate in industries that require real-time customer service like 24/7 customer care and technical support, makes the most of real-time speech analytics since it enables immediate action which is a must for qualified customer service. In such cases, real-time speech analytics can change the outcome of calls and impact the overall customer experience in a positive way.
Organizations which need to evaluate customer journey with an integrated and holistic approach can apply post-call analysis since this method helps quickly and easily identify long-duration and repeating events. By continually monitoring conversations, such organizations can find out why customers call and unveil insights about customer satisfaction.
Real-time speech analytics makes remarkable contributions to customer service performance which directly influences customer experience and customer satisfaction in the long-run. When used as an agent guidance tool, real-time speech analytics can improve agent performance by increasing script adherence and identifying problematic situations when agents are not in compliance with standard operating procedures. By providing real-time agent feedback and online coaching, the technology unveils training needs of agents and helps organizations to adopt a continuous learning approach.
In addition to its contributions in terms of agent performance, real-time speech analytics also helps organizations to boost customer satisfaction by improving interactions as they happen and by providing personalized responses to customers’ questions. Being able to improve customer satisfaction at the time of the call, shapes the future of customer-brand engagement. In other words, real-time speech analytics helps organizations reach first base with customer loyalty and brand advocacy in the long run.
Post-call speech analytics which already has a dominance in the market, already proved success in various industries through diversified projects. The technology has been an important component of voice of the customer platforms by giving an answer to the question ‘Why customers call?’ Post-call analysis not only identifies useful insights about a company’s products, services, customers and competitors but also uncovers insights regarding overall call center performance.
Post-call speech analytics contributes to enhanced customer experience by enabling continuous monitoring which includes categorizing calls into groups and reviewing them in order to determine customer-related issues accurately. Applying comprehensive analysis with historical data also helps organizations discover the root causes of customer issues and trending topics in customer communications. Thus organizations can adopt a proactive approach in a way that prevents customer churn, repeating calls and negative customer perception.
The power of collaboration
Taking into account their overall contributions; it is possible to see real-time speech analytics and post-call speech analytics as components of a holistic analytics system. While real-time speech analytics provides the ability to alter the outcome of a call positively by intervening interactions as they happen; post-call speech analytics lets organizations better see the longer term impacts of real-time actions they take. The technologies complement each other by improving different stages of customer interactions which result in overall enhancement in customer experience. Organizations which use real-time data in conjunction with post-call reporting tools can maximize the business value by improving agent performance, customer satisfaction and call center processes.
Author: Hilal Bakanay, Senior Marketing Specialist, Sestek